Dick’s Sporting Goods Reportedly Nearing a Deal to Buy Foot Locker
Published
Ever since Covid-19, retailers across the footwear industry have had struggles, as evidenced by multiple long-time players, including Eastbay, YCMC, and others, shutting down. For the big-box players, the landscape is about to shift as according to The Wall Street Journal, Dick’s Sporting Goods is reportedly close to finalizing a major retail acquisition: a deal to acquire Foot Locker for approximately $2.3 billion.
The deal under discussion values Foot Locker at $24 per share—an eye-popping 90% premium over the stock’s recent closing price of $12.87. Foot Locker’s shares have taken a significant hit in 2025, dropping roughly 40% amid weaker-than-expected sales guidance, mounting pressure from shifting Nike distribution strategies, and recent discussions around tariffs.
While the broader retail sector has had to navigate disruptions, especially in the sneaker and athletic wear markets, Dick’s has managed to maintain its footing. The Pittsburgh-based company is the largest sporting goods retailer in the U.S. and operates a growing portfolio that includes Golf Galaxy and House of Sport locations. Acquiring Foot Locker would significantly bolster Dick’s presence in the sneaker and streetwear space, and potentially expand its global footprint.
Neither company has officially confirmed the deal, but investors and analysts alike will be watching closely to see how this plays out. For more updates on the latest happenings in the sneaker and streetwear world, download the Sole Retriever mobile app.
Sneakerhead from South Florida who turned his passion into a career. When not writing for Sole Retriever, I enjoy attending concerts and catching the latest movies. Email: nick@soleretriever.com
