Dick’s Sporting Goods Buys Foot Locker for $2.4 Billion: A Game-Changer in Sports Retail

Dick’s Sporting Goods

has officially announced its takeover of

Foot Locker

In a transaction valued at $2.4 billion, the sports apparel and shoe industry will experience significant changes. This news comes amid increasing speculations as merger talks began circulating within financial and retail circles yesterday.

Lauren Hobart, who serves as both the CEO and President of Dick’s Sporting Goods, released a statement expressing optimism about the potential growth of the recently enlarged brand portfolio. She commented, “We are excited to include Foot Locker’s skilled team and expand on their knowledge and dedication to their enterprise, which we plan to respect and enhance collaboratively.”

Established in 1948, Dick’s Sporting Goods now manages more than 800 outlets throughout the U.S., encompassing various brands such as Golf Galaxy, Going Going Gone!, and Public Lands. By acquiring Foot Locker, Dick’s gains an extensive international presence, as Foot Locker runs approximately 2,400 stores spanning 20 nations, including locations in Europe, Australia, and New Zealand.

Even with the ownership shift, Foot Locker isn’t going away. In fact, Dick’s has stated that Foot Locker will keep operating independently under their expanding roster of brands. This transaction is anticipated to wrap up during the latter part of 2025.

By making this move, Dick’s Sporting Goods emerges as a leading player in both the domestic and global athletic retail sectors, boasting an aggregated scope and consumer following that can compete with top industry giants.

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Dick’s Sporting Goods Buys Foot Locker for $2.4 Billion
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