Is Foot Locker Giving the Boot to Malls?

Yahoo! Finance Aug 02, 2021 05:15 PM ET

Foot Locker (NYSE: FL) announced Monday it plans to pay $1.1 billion in two separate deals for a pair of shoe retailers that march to a different tune than the retail giant's longstanding but perhaps slowly fading reliance on enclosed shopping malls.In one announcement, the New York-based retailer said it plans to pay $360 million for Text Trading Company, which operates 49 stores -- including 39 in Japan and a handful around the United States -- under the atmos brand. In the other, Foot Locker...