Big Foot will pay $750 million for Hispanic market-focused retailer WSS, which operates 93 off-mall stores in CA, TX, AZ and NV, and $360 million plus an earnout for Japanese streetwear brand and sneaker retailer Atmos and its 49 stores. Both acquisitions are being easily funded from FL’s cash hoard, which stood at $1,963 million at the end of Q1. Both are also expected to be immediately accretive to earnings this year.

We can’t help but imagine that the WSS deal was accelerated by JD Sports snapping up Shoe Palace, which also targets a Hispanic audience in roughly the same territory. ... Log in to view full article.