Billionaire Increases Bet on Foot Locker After Macy’s Exit (1)

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.

Daniel Kretinsky

Representatives for Vesa Equity and Foot Locker didn’t respond to requests for comment.

Kretinsky, 45, has invested in a number of companies this year, ...