PITTSBURGH: Dick’s Sporting Goods, Inc., a leading US-based full-line omni-channel sporting goods retailer, Monday announced that it has completed its acquisition of leading footwear and apparel retailer Foot Locker, Inc.
Dick’s is now positioned to become a global leader in the sports retail industry at the intersection of sport and culture, serving a broader set of consumers across compelling, differentiated concepts.
As a combined company, Dick’s will now operate more than 3,200 stores plus e-commerce and digital businesses across 20 countries in North America, Europe, Asia, and Australia, plus a licensed store presence in Europe, the Middle East and Asia. This expanded footprint will strengthen its relationships with key brand partners by offering broader reach and enhanced visibility on a global level, while both companies battle for market share.
Dick’s will continue to operate Foot Locker’s portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos, under a new leadership team. Dick’s executive chairman Ed Stack will lead the global Foot Locker businesses, in partnership with two new presidents, one for North America and one for International.
Ann Freeman, a longtime former Nike executive, has been appointed president of Foot Locker North America. Dick’s will appoint a president of Foot Locker International to lead other regions.
The transaction is expected to deliver between $100 million to $125 million in cost synergies in the medium term, primarily through procurement and direct sourcing efficiencies, and Dick’s anticipates the transaction to be accretive to EPS in Fiscal Year 2026 (excluding transaction and other one-time costs to achieve synergies).
“We are very enthusiastic about the future of Foot Locker,” said Ed Stack, executive chairman of Dick’s. “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.”
“We are excited to officially welcome the Foot Locker team,” added Lauren Hobart, president and CEO of Dick’s. “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.”
“I am thrilled to join and lead Foot Locker North America at such a transformative moment,” said Freeman. “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.”
