Dick’s Sporting Goods Nearing Deal To Buy Foot Locker For $2.3 Billion

Dick’s Sporting Goods is nearing a deal to buy Foot Locker for $2.3 billion, Wall Street Journal reports. The sides have discussed a deal at... © Sneaker News, 2025. | Permalink | No comment | Add to del.icio.us The post Dick's Sporting Goods Nearing Deal To Buy Foot Locker For $2.3 Billion appeared first on Sneaker News. The post Dick’s Sporting Goods Nearing Deal To Buy Foot Locker For $2.3 Billion appeared first on Sneaker News.

Dick’s Sporting Goods is nearing a deal to buy Foot Locker for $2.3 billion, Wall Street Journal reports. The sides have discussed a deal at $24 per share, which is nearly double the current price. According to their exclusive report, the deal could be finalized as soon as Thursday, May 15th.

Foot Locker, arguably the most globally known footwear retailer in the world, was established in 1974 and operates in over 40 countries with a approximately 2,000 stores and over 46,000 employees (as of 2023). Despite its breadth and history, Foot Locker has been struggling as of late, reporting dips in revenue (6$ decline year-over-year) and closing 20% of its stores since 2019. In 2025, Foot Locker expected to further decrease its brick-and-mortar presence by 4% or roughly 110 stores.

Dick’s Sporting Goods was founded by Richard Stack in Binghamton, NY in 1948. Today, there are over 700 locations as of 2024; they are the largest sports retail chain in the US. This acquisition of Foot Locker brings Dick’s Sporting Goods globally.

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