Dick’s Sporting Goods has announced the acquisition of Foot Locker for approximately $2.4 billion, marking the second major footwear company buyout in recent weeks amidst concerns over U.S. President Donald Trump’s tariffs. Dick’s plans to operate Foot Locker as a standalone unit, retaining its brands such as Kids Foot Locker, Champs Sports, WSS, and atmos. This acquisition aims to create a global platform serving evolving sports and sports culture needs through enhanced store designs and omnichannel experiences. Foot Locker’s international presence, with about 2,400 stores across 20 countries, offers Dick’s its first overseas foothold. The deal is expected to close in the second half of the year, pending approval from Foot Locker shareholders. Dick’s stock dropped over 10% pre-market, while Foot Locker’s surged more than 82%. This acquisition strengthens Dick’s bargaining power with national brands, particularly in the sneaker market. — new from OregonLive.com
