Dick’s Sporting Goods seals $2.4B Foot Locker takeover in retail shake-up
Dick’s Sporting Goods has finalised its $2.4 billion purchase of Foot Locker. The deal brings together two major US retailers, aiming to boost their influence with leading sports brands. A new leadership team, drawn from both companies, will now steer the combined business.
The acquisition marks a significant shift for Foot Locker, which will now operate under Dick’s leadership. Ed Stack, Dick’s Executive Chairman, will oversee the retailer alongside two newly appointed presidents. Ann Freeman, a 26-year veteran of Nike, will take charge as president of Foot Locker North America. Her deep experience with the brand could prove vital, given Nike's importance to Foot Locker's sales.
The deal reshapes the sports retail landscape, with Dick’s now controlling a major rival. Foot Locker’s new leadership includes seasoned executives from Nike, PepsiCo, and both retailers. The next steps will likely focus on integrating operations and solidifying relationships with key suppliers.
