The US retail group Foot Locker Inc. is streamlining its portfolio. On Monday, the company announced the separation of its Team Sales division. The segment, in which the direct sale of sporting goods to high school teams is bundled, will be sold by the group subsidiary Foot Locker Retail Inc. to the team sports outfitter BSN Sports, which belongs to the Varsity Brands group of companies, said Foot Locker. A corresponding agreement has already been signed, but the company has not published any financial details.
With the transaction, which is to be completed in the coming weeks, the group is sharpening its “focus on its core business” in retail, explained Foot Locker. As part of the sale of the Team Sales division, the associated online shop Eastbay.com will be completely integrated into the Champs Sports group brand.
Richard Johnson, Chairman and CEO of Foot Locker, was “very pleased” with the solution that has now been found. The team sales activities with their “experienced teams of experts” have “a promising future” under the umbrella of BSN Sports, he explained in a message.