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FOOT LOCKER , INC . NEWS RELEASE Investor Contact : James R. Lance Vice President , Corporate Finance and Investor Relations Foot Locker , Inc. jlance@footlocker.com ( 212 ) 720-4600 Media Contact : Cara Tocci Vice President , Corporate Communications Foot Locker , Inc. cara.tocci@footlocker.com ( 914 ) 582-0304 Exhibit 99.1 FOOT LOCKER , INC . ENHANCES POSITIONING IN NORTH AMERICA WITH ACQUISITION OF WSS Diversifies Store Footprint and Product Mix with High - Growth Brand Serving Complementary Customer Base in Rapidly Growing LatinX Community Expected to Be Accretive to EPS in Fiscal Year 2021 NEW YORK , August 2 , 2021 - Foot Locker , Inc. ( NYSE : FL ) ( " Foot Locker " or the " Company " ) , the New York - based specialty athletic retailer , today announced it has entered into a definitive agreement to acquire Eurostar , Inc. ( " WSS ” ) , a U.S. - based athletic footwear and apparel retailer , which primarily operates on the West Coast , for $ 750 million . The transaction will be funded with the Company's available cash . WSS is an athletic - inspired retailer focused on the large and rapidly growing Hispanic consumer demographic , operating a fleet of 93 off - mall stores in key markets across California , Texas , Arizona , and Nevada . WSS's community - driven business benefits from deep relationships with customers - with approximately 80 % of its sales coming from customers who are members of its loyalty program . 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 . WSS generated approximately $ 425 million in revenue in its fiscal year 2020 and a three - year revenue CAGR of approximately 15 % . The acquisition is expected to be accretive to Foot Locker's earnings per share in fiscal year 2021 . Richard A. Johnson , Chairman and Chief Executive Officer of Foot Locker , Inc. said , “ WSS has built a successful , high - growth business by pioneering the neighborhood - based store model , built on community engagement and a full - family offering . This acquisition enhances our product mix and provides access to a customer base and store footprint that are both differentiated from and complementary to our current portfolio . We are thrilled to welcome WSS's customers into the Foot Locker family , as well as join forces with their talented team . Looking ahead , we see significant opportunities to expand this business , including by accelerating WSS's store growth into new geographies in North America . ” Eric Alon , Founder and Executive Chairman of WSS , said , “ Since WSS's inception 37 years ago , we have focused on meeting the needs of underserved communities while elevating our neighborhoods , one step at a time . Through our WSS Cares ! initiative and the support of Foot Locker , our mission to positively impact the communities we serve will continue . We are extremely proud to be a part of Foot Locker as they share our commitment to community . " Rick Mina , Chief Executive Officer of WSS , said , “ Our team is excited about being a part of the Foot Locker family . The talents , resources , and rich history of a leading athletic specialty footwear and apparel retailer will make WSS a better and stronger business . This is a historic day for the future of WSS . " Foot Locker , Inc. 330 West 34th Street , New York , NY 10001