With atmos, we are executing against our expansion initiative in the rapidly growing Asia-Pacific market, establishing a critical entry point in Japan and benefitting from immediate scale.

said, “atmos is uniquely positioned through its innovative retail stores, high digital penetration, and distinctive products that have made it a key influencer of youth and sneaker culture. Johnson, Chairman and Chief Executive Officer of Foot Locker, Inc. The acquisition is expected to be accretive to Foot Locker’s earnings per share in fiscal year 2021. atmos generated approximately $175 million of revenue in its fiscal year 2020, more than 60% of which was generated through digital channels.

The acquisition of atmos will accelerate Foot Locker’s global reach with a highly strategic foothold in Japan, the third largest economy globally, while extending the Company’s premium and top-tier offering. atmos’s base of 49 stores globally, including 39 in Japan, operate under the atmos banner and atmos pink, its women’s brand. The transaction will be funded with the Company’s available cash.Ītmos is a culturally connected brand featuring premium sneakers and apparel, an exclusive in-house label, collaborative relationships with leading vendors in the sneaker ecosystem, experiential stores, and a robust omni-channel platform. (“atmos”), which owns and licenses the atmos brand, a digitally led, premium, global retailer headquartered in Japan, for $360 million. “Mary has established a remarkable track record in the retail industry, and she brings an incredible mix of talent, experience and commitment to take Foot Locker to the next level.Expected to Be Accretive to EPS in Fiscal Year 2021įoot Locker, Inc., the New York-based specialty athletic retailer, today announced it has entered into a definitive agreement to acquire Text Trading Company, K.K. “The Board and I have worked closely together on a thoughtful succession plan, and with a strong foundation in place and ongoing momentum against our strategic objectives, we believe now is the right time to complete the CEO transition,” 64-year-old Johnson said in a statement. In February, Foot Locker said no single vender will account for more than 60% of its total purchases this fiscal year. That’s going to be a tall order, as Nike accounted for 70% of Foot Locker’s inventory purchases last year. Mary Dillon was most recently executive chair of Ulta Beauty, where she was the company’s CEO until 2021. She will succeed Richard Johnson, who is retiring.įoot Locker has tapped 61-year-old Dillon as it angles to shift away from increasingly empty shopping malls as well as grow its independence from Nike, which has recently increased its focus on selling its own goods directly to customers. Mary Dillon, who was Ulta’s executive chair and former CEO until June 21, will be taking the reins of the 2,800-store retail chain on Sept. Foot Locker’s stock soared 20% after the sneaker chain said Friday it has named Ulta Beauty’s executive chair as its new chief executive.

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