📍 New York, NY — September 2, 2025
In a blockbuster move set to reshape the athletic retail landscape, Dick’s Sporting Goods has announced its acquisition of Foot Locker, Inc. in a deal valued at $2.4 billion in equity, with an enterprise value of approximately $2.5 billion.
The merger, first revealed in May and approved by Foot Locker shareholders in August, marks one of the largest retail consolidations in recent years. Under the terms of the agreement, Foot Locker shareholders will receive either $24.00 in cash or 0.1168 shares of Dick’s common stock for each Foot Locker share they own.
🏬 Retail Powerhouse Formation
The combined company will operate over 2,400 stores across 20 countries, including North America, Europe, Asia, Australia, and New Zealand. Foot Locker’s portfolio—featuring brands like Kids Foot Locker, Champs Sports, WSS, and atmos—will remain intact, with Dick’s planning to run Foot Locker as a standalone business unit.
💬 “We’ve long admired Foot Locker’s cultural significance and brand equity,” said Ed Stack, Executive Chairman of Dick’s Sporting Goods. “Together, we’ll unlock new growth opportunities and deliver an unmatched retail experience to global consumers”.
📉 Foot Locker’s Financial Struggles
The acquisition comes amid a challenging year for Foot Locker, which reported a $363 million net loss in Q1 2025, compared to an $8 million profit the previous year. Dick’s executives cited the opportunity to revitalize Foot Locker’s brand and expand its reach as key drivers behind the deal.
🛍️ What’s Next
The transaction is expected to close in the second half of 2025, pending regulatory approvals. Industry analysts say the merger could intensify competition with global retail giants like JD Sports and Frasers Group, both aggressively expanding in the U.S. and abroad.
This merger signals a new era for athletic retail—one where legacy brands must evolve or consolidate to stay competitive. Dick’s and Foot Locker are betting big that together, they’ll do both.