Foot Locker Divests Team Sales Business To BSN Sports

Foot Locker Inc FL subsidiary, Foot Locker Retail Inc, has signed a definitive agreement to sell the Team Sales business to BSN SPORTS. The financial terms were not disclosed.
BSN SPORTS is a direct marketer and distributor of sporting goods, footwear, apparel, and branding to the school and league markets.
The transaction is expected to close in the coming weeks.
In addition, Foot Locker plans to fully consolidate the Eastbay.com retail website into the Champs Sports banner, completing the integration of those two banners that began in 2019.
Price Action: FL shares closed higher by 1.83% at $29.55 on Friday.