Dick's Sporting Goods Acquires Foot Locker, Becoming Sports Retail Industry Leader

By Tamara Parker • Monday, September 08 15:49 • Permanent Link

Dick’s Sporting Goods, Inc. has announced the completion of its acquisition of Foot Locker, Inc., positioning it as a global leader in the sports retail industry. The combined company will now operate more than 3,200 stores plus e-commerce and digital businesses across 20 countries in North America, Europe, Asia, and Australia, along with a licensed store presence in Europe, the Middle East, and Asia.

The transaction is expected to deliver between $100 million to $125 million in cost synergies in the medium term, primarily through procurement and direct sourcing efficiencies. Dick’s anticipates the transaction to be accretive to earnings per share (EPS) in fiscal year 2026, excluding transaction and other one-time costs to achieve synergies.

The company has appointed an experienced new leadership team to operate Foot Locker’s portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. This team includes Ann Freeman, a longtime former Nike executive, who has been appointed president of Foot Locker North America.

Additionally, Dick’s has announced new senior leaders to support the management team of Foot Locker North America, including Tony Aversa, Denise Karkos, George Jenkins, Peter Scaturro, Steve Miller, Brett O’Brien, and Michael Keinath.

The acquisition is expected to create a global platform that will redefine the sports retail industry and unlock value for both companies, brand partners, teammates, communities, and shareholders, according to Lauren Hobart, President and CEO of Dick’s.

Goldman Sachs served as the financial advisor to Dick’s for the transaction, while Wachtell, Lipton, Rosen & Katz served as Dick’s legal advisor.

With this acquisition, Dick’s Sporting Goods is positioned to expand its global footprint and enhance its relationships with key brand partners, offering broader reach and enhanced visibility on a global level. Today the company's shares have moved -0.06% to a price of $221.105. For the full picture, make sure to review DICK'S SPORTING GOODS, INC.'s 8-K report.

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