DICK’S Sporting Goods Completes $2.4B Foot Locker Acquisition

DICK’S Sporting Goods advances its footprint and influence in sports and sneaker retail with the historic $2.4 billion acquisition of Foot Locker now operating more than 3,200 stores and multiple brand banners worldwide.

Retail Reach Expands Across 20 Countries

With the purchase of Foot Locker finalized on September 8, 2025, DICK’S Sporting Goods now operates over 3,200 stores as well as robust e-commerce and digital businesses across North America, Europe, Asia, and Australia—plus licensed store presences in Europe, the Middle East, and Asia. The deal boosts DICK’S global strategy, doubles down on sneaker culture, and strengthens relationships with top athletic brands.

The portfolio now includes iconic brands such as Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos, which DICK’S will continue to manage as distinct businesses under a new leadership team.

High-Profile Leadership for North America and Beyond

Ed Stack, Executive Chairman of DICK’S, will lead global Foot Locker operations, supported by two new presidents—one for North America and another for International. Ann Freeman, a former Nike executive, has been appointed President of Foot Locker North America, bringing fresh leadership to the brand’s U.S. resurgence. The North American executive team features veterans and new talent from both DICK’S and Foot Locker, including Tony Aversa (SVP/GM), Denise Karkos (SVP/GM of Champs Sports), George Jenkins (SVP Store Ops), and Brett O’Brien (SVP CMO, formerly of PepsiCo).

Ed Stack commented: “We are very enthusiastic about the future of Foot Locker. The world class team we have assembled is committed to returning Foot Locker to its rightful place in our industry. We are committed to investing in and growing Foot Locker through its strong culture, led by the Stripers, and creating a more powerful experience for consumers.”

Leadership Optimism and Strategy for Growth

Lauren Hobart, President and CEO of DICK’S, said: “Bringing together the strengths of both companies will help us return Foot Locker to growth while continuing to fuel DICK’S momentum. As a combined company, DICK’S and Foot Locker will create a global platform that will redefine the sports retail industry and unlock value for both companies, our brand partners, our teammates, our communities and our shareholders.”

Ann Freeman, President of Foot Locker North America, added: “Together, we have an extraordinary opportunity to build on Foot Locker‘s rich heritage and deliver innovative experiences to a variety of footwear consumers – from athletes to sneaker enthusiasts and everyone in between. I look forward to working with the talented Foot Locker team as we accelerate growth, enrich our brand partnerships and inspire the next generation of consumers.”

Financial Impact and Global Ambitions

The deal is projected to deliver between $100 million and $125 million in cost synergies over the next few years—mainly via procurement and direct sourcing—with transaction synergies expected to be accretive to earnings per share in fiscal year 2026 (before one-off costs). DICK’S is betting that leveraging its scale and retail expertise will help Foot Locker regain lost ground and energize both performance and lifestyle segments.

A New Era in Sports and Sneaker Retail

By keeping brand portfolios intact, leveraging two deep rosters of retail and brand partners, and investing in culture—DICK’S and Foot Locker are poised to set the global pace for both core athletes and sneaker enthusiasts. Retailers, brands, and consumers should expect a more powerful, innovative shopping experience in stores and online in the years ahead.

For complete details, see DICK’S investor news and leading coverage at USA Today.