UPDATE 5/15/25: On May 15, 2025, Dick’s Sporting Goods has officially acquired Foot Locker for $2.3 billion. This deal cements Dick’s as the leading global athletic retailer, generating more than $21 billion in revenue during FY24. The acquisition includes key Foot Locker subsidiaries: Champs Sports, Kids Foot Locker, atmos, and WSS.
Original Post:
Looks like Dick’s Sporting Goods is lacing up for a major retail power play. Word on Wall Street? They’re closing in on a deal to scoop up Foot Locker for a whopping $2.3 billion. That’s right—Dick’s might be adding new sneakers to their portfolio by Thursday, May 15.
The deal values Foot Locker at $24 per share—nearly double its current stock price. Talk about a glow-up! Founded in 1974, Foot Locker has more than 2,000 stores in 40+ countries and employs over 46,000 people. But despite its iconic status, it’s been tripping lately—losing 6% in revenue and closing hundreds of stores since 2019.
Meanwhile, Dick’s Sporting Goods, founded in 1948, is flexing as America’s top sporting goods retailer with over 700 stores as of 2024. This retail acquisition would let Dick’s go global in a big way—and possibly shake up the sneaker industry while they’re at it.
If finalized, the Dick’s Sporting Goods Foot Locker acquisition could combine performance wear, lifestyle kicks, and global reach under one giant retail roof. Talk about a retail crossover episode we didn’t see coming.
Stay tuned. This business sneaker drop might just be bigger than your favorite retro re-release.
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