DICK’S Sporting Goods, Inc., the US-based omni-channel sporting goods retailer, has announced the completion of its US $ 2.4 billion acquisition of footwear and apparel retailer Foot Locker, Inc.
Following the transaction, the combined company will operate more than 3,200 stores, as well as e-commerce and digital platforms across 20 countries in North America, Europe, Asia and Australia. It will also maintain a licensed store presence in Europe, the Middle East and Asia. The expanded footprint is expected to strengthen ties with brand partners by offering broader reach and increased visibility worldwide.
DICK’S confirmed that it will continue to operate Foot Locker’s portfolio of brands, which include Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos. The business will be led by a new leadership team, with DICK’S Executive Chairman Ed Stack taking charge of the global Foot Locker operations alongside two newly created presidential roles – one for North America and one for International. Ann Freeman, a former Nike executive, has been named President of Foot Locker North America, while a President for Foot Locker International is yet to be appointed.
The company expects the deal to generate between US $ 100 million and US $ 125 million in cost synergies in the medium term, primarily through procurement and sourcing efficiencies. It anticipates the transaction will be accretive to earnings per share in fiscal 2026, excluding one-off costs related to the deal.
Ed Stack, Executive Chairman of DICK’S, said the company was committed to investing in Foot Locker and returning it to a leading position within the industry. He added that the newly assembled leadership team would focus on strengthening the brand’s culture and enhancing customer experiences.
Lauren Hobart, President and CEO of DICK’S, stated that combining the strengths of both companies would help return Foot Locker to growth while continuing to build momentum for DICK’S. She said the merged entity would create a global platform capable of redefining the sports retail sector and delivering value to brand partners, employees, communities and shareholders.
Ann Freeman, President of Foot Locker North America, described her appointment as an opportunity to build on Foot Locker’s heritage and expand its appeal to a wide range of consumers, from athletes to sneaker enthusiasts. She said she looked forward to working with the team to accelerate growth, strengthen brand partnerships and engage the next generation of customers.
