Dick’s Sporting Goods to buy Foot Locker for $2.4 billion: What to know
FILE-A Dick’s Sporting Goods store stands in Staten Island on March 09, 2022 in New York City. (Photo by Spencer Platt/Getty Images)
Dick’s Sporting Goods is purchasing Foot Locker for $2.4 billion, marking the second buyout of a major footwear retailer.
The Pennsylvania-based company told the Associated Press that it expects to close on the Foot Locker deal in the second half of 2025.
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What are Dick’s Sporting Goods plans for Foot Locker?
Dig deeper:
Dick’s Sporting Goods told the Associated Press Thursday that it expects to run Foot Locker as a standalone business and keep the Foot Locker brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.
Foot Locker has roughly 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia, and New Zealand. The footwear chain also has a licensed store presence in Europe, the Middle East and Asia. The company had global sales of $8 billion in 2024.
How are tariffs impacting the shoe industry?
Why you should care:
The Associated Press noted that the footwear industry is worried about President Donald Trump’s trade war with other countries, specifically China, with athletic shoe manufacturers that have invested substantially in production in Asia.
According to the American Apparel & Footwear Association, roughly 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia.
The Associated Press reported that using factories overseas has kept labor costs down for U.S. companies, but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs.
Dick’s Sporting Goods announcement to buy Foot Locker comes after news earlier this month that Skechers was being taken private by the investment firm by 3G Capital in a deal worth over $9 billion.
The Source: Information for this story was provided by the Associated Press, which received comments from Dick’s Sporting Goods about the announcement. This story was reported from Washington, D.C.