Sneaker Giant Foot Locker Snaps Up Two Rival Retailers for $1.1 Billion

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In the shoe business, everybody wants a bigger footprint.

That certainly includes American sneaker and sportswear giant Foot Locker, which announced Monday it is buying California shoe store chain WSS for $750 million and Japanese streetwear brand Atmos for $360 million. The acquisitions should help Foot Locker reposition its retail operations as the company (along with Tesla, Gap, and everyone else) continues its exodus from shopping malls.

Source Fool.com