Dick's Sporting Goods laces up deal, acquires Foot Locker for $2.4B

Saleen Martin, USA TODAY

Thu, May 15, 2025, 10:23 AM 4 min read

Dick’s Sporting Goods is buying sneaker concatenation Foot Locker for $2.4 billion, Dick’s institution executives announced connected May 15.

The company’s acquisition of Foot Locker has an endeavor worth of $2.5 cardinal and if approved, the woody volition adjacent during the 2nd fractional of the year, Dick’s Sporting Goods said successful a news release.

Dick’s is based successful Coraopolis, Pennsylvania, astir 14 miles northwest of Pittsburgh, and has hundreds of stores crossed the United States.

Foot Locker is based successful New York and owns brands specified arsenic Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores successful 20 countries, including North America, Europe, Asia, Australia and New Zealand.

Foot Locker besides has franchises successful Europe, the Middle East and Asia, and successful 2024, Foot Locker made $8 cardinal worldwide, Dick’s Sporting Goods said.

The merger comes amid a tariff war betwixt the U.S. and China. Most recently, President Donald Trump agreed to trim reciprocal tariffs connected goods imported from China for 90 days. The tariffs volition signifier 125%  to 10%, lining up with tariffs the Trump medication has issued for different countries.

Foot Locker besides said connected May 15 that during the archetypal 4th of 2025, income decreased by 2.6% from past year. Foot Locker added that nett nonaccomplishment is expected to beryllium $363 cardinal compared to a nett income of $8 cardinal past year.

Dick’s Sporting Goods said successful the quality merchandise that it plans to proceed moving Foot Locker arsenic a standalone concern unit, truthful Foot Locker brands volition enactment put.

According to Dick's Sporting Goods, buying Foot Locker volition let Dick’s Sporting Goods to service consumers successful caller locations crossed the United States, arsenic good arsenic worldwide, for the archetypal time.

The merger volition let Dick’s Sporting Goods to usage caller concepts to service customers, according to the announcement. In April 2024, Foot Locker announced a caller conception for its stores that promised customers a new, immersive layout, agleam caller sections highlighting caller releases, and a communal try-on area, and more. Dick’s said it plans to harvester its ain civilization with Foot Locker’s reimagined store concept, providing “an unmatched immersive and innovative retail acquisition for consumers.”

While Dick’s anticipates affirmative changes if the acquisition is finalized, results could look otherwise owed to the existent economical clime and factors specified arsenic changes to planetary commercialized relations, proviso concatenation constraints, delays and disruptions, and fluctuations successful merchandise costs and availability owed to tariffs, executives said.