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West Coast-based Eurostar (parent company of WSS), a Hispanic-focused US specialty retailer of athletic, fashion and work-related footwear and accessories, has reached an agreement to be acquired by New York-based specialty athletic retailer Foot Locker for $750 million. WSS will maintain its name, operating as a new banner in Foot Locker's portfolio.
The transaction is expected to close late in the third quarter of this year, as press release from Foot Locker said.
WSS operates a fleet of 93 off-mall stores in key markets across California, Texas, Arizona and Nevada. Four-fifths of its sales come from customers who are members of its loyalty programme.
Through this transaction, Foot Locker will benefit from WSS's differentiated market position and complementary customer base and real estate portfolio. WSS's assortment of classic styles will further diversify Foot Locker's product mix, enabling the company to serve a broader range of consumer needs across price points, the press release said.
Fibre2Fashion News Desk (DS)
West Coast-based Eurostar (parent company of WSS), a Hispanic-focused US specialty retailer of athletic, fashion and work-related footwear and accessories, has reached an agreement to be acquired by New York-based specialty athletic retailer Foot Locker for $750 million. WSS will maintain its name, operating as a new banner in Foot Locker's portfolio.