Dick’s Sporting Goods completes US$2.4 billion Foot Locker deal

Footwear retailer Dick’s Sporting Goods said on Monday it had completed its $2.4 billion acquisition of Foot Locker.

The deal gives Dick’s a stronger foothold in the sneaker market with over 3,200 stores and an entry into international markets, while both companies battle for market share.

Dick’s expects the transaction to add to its earnings per share in fiscal 2026, excluding transaction related and other one-time costs.

The company in May said it expects to operate Foot Locker as a standalone business within its portfolio and maintain the sporting goods retailer’s brands.

The deal was closed after the mandatory waiting period under U.S. antitrust law ended on Aug. 25.

(Reporting by Anshi Sancheti in Bengaluru; Editing by Maju Samuel)