Czech Billionaire Raises Foot Locker Stake to Become Top Holder

Daniel Kretinsky now owns about 10% of footwear retailer
Czech investor has also invested in British grocer J Sainsbury

New York City Reopens Malls While In-Door Dining Remains On Hold — Photographer: Peter Foley/Bloomberg

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By Benjamin Stupples

November 26, 2020 at 12:40 PM UTC

Updated on

November 27, 2020 at 12:38 PM UTC

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Daniel Kretinsky, the Czech billionaire who invested in Macy’s Inc. earlier this year, has boosted his stake in Foot Locker Inc., making him the sneaker store chain’s top shareholder.

Kretinsky’s Vesa Equity Investment now owns 10.3% of the company’s common shares, according to a U.S. regulatory filing. The firm previously revealed a 6% stake in May. Its current stake in the New York-based company has a market value of about $400 million.