Sneaker News Updated May 15th, 2025: As of the morning of May 15th, 2025, Dick’s Sporting Goods has officially acquired Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of approximately $2.5 billion. This new acquisition positions Dick’s Sporting Goods as the premiere sports/athletic retailer in the world, totaling over $21 billion in revenue in FY24. The acquisition of Foot Locker also includes Champs, Kids Food Locker, atmos, and WSS.
The below article was originally published on May 14th, 2025 at 5:48 PM ET.
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 allows Dick’s Sporting Goods to spread its wings farther across the globe.
