Dick's Sporting Goods Buys International Footwear Chain In $2.4B Deal

PITTSBURGH, PA — In a move with international implications, Pittsburgh-based Dick's Sporting Goods is acquiring footwear and apparel retailer Foot Locker. The $2.4 billion deal was announced Thursday morning.

Dicks is purchasing a chain with about 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand and a licensed store presence in Europe, the Middle East and Asia. In 2024, Foot Locker recorded net worldwide sales of $8 billion

Dick's expects to operate Foot Locker as a standalone business and maintain its brands, which include Kids Foot Locker, Champs Sports, WSS and atmos.

"We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve," Dick's Executive Chairman Ed Stack said in a release.

"We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker's position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers."

Dick's said the combined company offers significant strategic and financial benefits that include:

• Creating a global platform within the growing sports retail industry. The transaction will better position the combined company to serve consumers worldwide.
• Serving a broader set of consumers across differentiated concepts that will provide an immersive and innovative retail experience for consumers.
• Strengthening relationships with brand partners through global reach. Together, Dick's and Foot Locker plan to serve as a stronger partner for key brands, offering multiple platforms for both established and emerging partners to showcase their assortments, connect with athletes and increase visibility on a global level.

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