The deal will keep Foot Locker stores operating under their original names and brands.
PITTSBURGH — Dick’s Sporting Goods has completed its acquisition of Foot Locker, creating a sports retail powerhouse with more than 3,200 stores across 20 countries, the companies announced Monday.
The deal, first announced in May, positions the Pittsburgh-based retailer as what it calls a “global leader in the sports retail industry,” combining Dick’s traditional sporting goods focus with Foot Locker’s strength in sneaker culture and urban athletic wear.
The combined company will continue to operate its separate brands including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, alongside existing Dick’s stores.
“We are very enthusiastic about the future of Foot Locker,” said Ed Stack, Dick’s executive chairman, who will lead the global Foot Locker businesses. “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.”
Ann Freeman, a former Nike executive, has been named president of Foot Locker North America. She’ll oversee the brand’s turnaround strategy as Dick’s works to revitalize Foot Locker’s performance after years of declining sales.
“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,” Freeman said in a statement.
The deal is expected to generate $100 million to $125 million in cost savings through improved purchasing power and supply chain efficiencies. Dick’s anticipates the acquisition will boost earnings per share starting in fiscal year 2026.
For shoppers, the expanded scale could mean better product availability and potentially improved pricing as the combined company leverages its size with major athletic brands like Nike, Adidas and Under Armour.
The acquisition comes as traditional retail faces continued pressure from online shopping and changing consumer habits. By combining forces, Dick’s aims to strengthen its position against competitors like Amazon and direct-to-consumer brands.
Dick’s, founded in 1948, also operates Golf Galaxy, Public Lands and other specialty retail concepts. The company has been expanding its experiential retail formats, including Dick’s House of Sport locations that feature climbing walls, batting cages and other interactive features.
Foot Locker, once a dominant force in athletic retail, has struggled in recent years with declining sales and a stock price that fell 41% through May of this year. The New York-based company, with $8 billion in global sales last year, announced a turnaround plan in 2023 partly aimed at improving relationships with major brands.
The Associated Press contributed to this story.