DICK’S Sporting Goods Buys Foot Locker, Beloved Retailer Saved

Dick’s Sporting Goods has finalized its acquisition of Foot Locker, creating one of the largest athletic retail companies in the world.

The combined business now operates more than 3,200 stores across 20 countries and significantly expands DSG’s global reach.

For many, Foot Locker is a beloved brand. Famous for its referee pinstripe uniforms and presence across America in malls and retail strips, Foot Locker has been a staple for young athletes, hypebeasts, and trendsetters for decades.

It went sideways over the past few years. Foot Locker had increasingly faced financial issues, but this acquisition keeps a nostalgic staple of shoe culture alive.

New Ownership, Same Brand

The company will continue to operate under its existing banners, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. Oversight of the global business will fall under Dick’s Executive Chairman Ed Stack.

The company expects the merger to generate $100 to $125 million in cost savings over the medium term through efficiencies in sourcing and operations. It also projects the deal will boost earnings beginning in fiscal year 2026.

Ann Freeman, a former Nike executive, has been appointed President of Foot Locker North America. She will lead a seasoned team of executives, including Tony Aversa and Denise Karkos, who will continue in leadership roles.

READ PREP NETWORK’S FULL INTERVIEW WITH DICK’S SPORTING GOODS EXECUTIVE

Dick’s CEO Lauren Hobart said the acquisition is a strategic move to build a stronger, more competitive global platform.

“We are excited to officially welcome the Foot Locker team,” Hobart said in a statement, “Bringing together the strengths of both companies will help us return Foot Locker to growth while continuing to fuel DICK’S momentum.” 

Founded in 1948 and headquartered in Pittsburgh, Dick’s operates several retail banners, including Golf Galaxy and Public Lands, as well as its flagship House of Sport locations. The addition of Foot Locker is expected to strengthen its appeal among younger and more urban consumer segments.

The acquisition is a significant retail merger amid increasing pressure from direct-to-consumer brands and online competition. But don’t worry, those striped uniforms aren’t leaving American malls now anytime soon.