Dick’s Sporting Goods has officially confirmed its acquisition of Foot Locker in a deal worth $2.4 billion, shaking up the sportswear and footwear space. The announcement follows growing speculation after merger rumors started surfacing across financial and retail sectors yesterday.
Lauren Hobart, CEO and President of Dick’s Sporting Goods, issued a statement reflecting confidence in the future of the newly expanded brand family. “We look forward to welcoming Foot Locker’s talented team and building upon their expertise and passion for their business, which we intend to honor and amplify together,” she said.
Founded in 1948, Dick’s Sporting Goods currently operates over 800 stores across the U.S. under banners including Golf Galaxy, Going Going Gone!, and Public Lands. The acquisition of Foot Locker gives Dick’s a significant global footprint, with Foot Locker operating 2,400 stores across 20 countries—including in Europe, Australia, and New Zealand.
Despite the ownership change, Foot Locker won’t be disappearing. Instead, Dick’s confirmed that Foot Locker will continue to operate as a standalone business within its growing portfolio. The deal is expected to close in the second half of 2025.
This move positions Dick’s Sporting Goods as a dominant force in both the U.S. and international athletic retail markets, with a combined reach and customer base that could rival any major competitor.
