Dick's Sporting Goods Aims for Retail Dominance with Foot Locker Acquisition

Dick's Sporting Goods announced its intention to acquire Foot Locker, aiming to create a "global leader in the sports retail industry."

The move comes as President Donald Trump has implemented tariffs on imported goods, which are expected to have a significant impact on shoes and apparel. According to the U.S. International Trade Commission, over 96% of footwear in the U.S. is imported.

"We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve," said Ed Stack, executive chairman of Dick's Sporting Goods. "We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker's position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers."

The deal is expected to cost Dick's Sporting Goods $2.4 billion, with the company offering Foot Locker shareholders $24 or 0.1168 shares of Dick's Sporting Goods stock for each share of Foot Locker stock.

The acquisition will create a global platform within the growing sports retail industry, serving a broader set of consumers across differentiated concepts, strengthening relationships with brand partners through global reach, investing in future growth through an industry-leading omnichannel experience, and unlocking operational efficiencies that create shareholder value.