Pending shareholder approval, Dick’s Sporting Goods is acquiring Foot Locker for $2.4 billion. This deal will help Dick’s international presence and strengthen its position in the sneaker market.
After the deal closes Foot Locker stores will still operate as a standalone unit, maintaining its brand and 2,400 stores across 20 countries.
This deal does not come with eye-popping risk. The sneaker retailer’s sales have been declining. In the first quarter of 2025, the company reported a 2.6% drop in comparable sales year-over-year, with a net loss of $363 million. The decline has been attributed to ongoing inventory challenges, weaker consumer demand, and increased promotional activity.
