Nykaa, Metro Brands shares in focus to 70% in these US shoes stocks | Einsmark news

Shares of FSN e-commerce ventures, parent company of Nykaa, and Metro brands will remain in focus in Thursday’s trading session after US shoes for US shoes rose to 70 percent after the market hours of the market in the overnight trading on Wall Street. Nykaa share price ended Wednesday’s session in the red, falling 0.25 percent to £ 197.15 each. Meanwhile, Metro Brands’ share price closed yesterday’s trade session in the positive trajectory at £ 1,148.90 on NSE. American Athleisure and Sneaker Powerhouse Foot Locker officially entered the Indian market in October last year through a strategic partnership with retail leaders Nykaa and Metro brands. The company inaugurated its first shop in New Delhi. Under this collaboration, Metro brands will run Foot Locker’s brick and mortar stores, while Nykaa fashion oversees the online retail operations. Why is Foot Locker share price in news? Foot Locker shares jumped by as much as 70% on Wednesday in after-hour trading after a Wall Street Journal report that Dick’s Sporting Goods Inc. Advanced to buy the company. Foot Locker’s shares closed at $ 12.87 on Wednesday, dropping more than 3%, bringing its market cap to $ 1.2 billion. However, at the end of the after-hours trading at 20:00 EST, Foot Locker’s share rose 69%and reached $ 21.78. According to a report by the Wall Street Journal, the proposed agreement with Dick could appreciate the company at around $ 2.3 billion – and the current valuation is almost doubled. However, the report, referring to people familiar with the situation, said that a final agreement has not yet been finalized. Foot Locker operates about 2400 stores worldwide, mainly consisting of smaller locations, while Dick’s sports goods manage more than 800 large -format stores, mostly in suburban areas across the US, despite their various shop formats, both retailers rely a lot on sneaker sale for the majority of revenue. (With input from agencies) Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or brokerage companies, not coin. We advise investors to check with certified experts before making investment decisions.