Foot Locker completes Runners Point acquisition
Foot Locker completes buyout of German athletic store chain Runners Point
NEW YORK (AP) -- Athletic shoe and clothing chain Foot Locker has completed its purchase of privately held German athletic store chain Runners Point Group for 72 million euros ($94 million).
The deal was announced in May. At the time, Foot Locker Inc. said that the transaction would help expand its presence in Germany. Runners Point operates more than 200 stores mostly in Germany, as well as the online unit Tredex. It had 2012 sales of 197 million euros ($254 million).
Foot Locker has more than 600 stores in Europe and had more than $1 billion in 2012 revenue from the region. The New York company operated 3,321 stores in 23 countries as of May 4.
Shares of Foot Locker added 34 cents to $36.94 on Wednesday. They are approaching their 52-week high of $37.65 set last September,
