{"id":55742,"date":"2025-05-15T21:35:02","date_gmt":"2025-05-16T01:35:02","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=55742"},"modified":"2025-05-15T22:45:33","modified_gmt":"2025-05-16T02:45:33","slug":"dicks-sporting-goods-to-buy-shoe-store-chain-for-2-4-billion","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2025\/05\/15\/dicks-sporting-goods-to-buy-shoe-store-chain-for-2-4-billion\/","title":{"rendered":"Dick\u2019s Sporting Goods to buy shoe store chain for $2.4 billion"},"content":{"rendered":"\n

Dick\u2019s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over how U.S. President Donald Trump\u2019s tariffs will impact companies that make many of their products overseas.<\/p>\n\n\n

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Dick\u2019s said Thursday that it expects to run Foot Locker as a standalone unit and keep the shoe store company\u2019s brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.<\/p>\n\n\n\n

\u201cSports and sports culture continue to be incredibly powerful, and with this acquisition, we\u2019ll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases,\u201d Dick\u2019s CEO Lauren Hobart said in a statement.<\/p>\n\n\n\n

Foot Locker shareholders can choose to receive either $24 in cash or 0.1168 shares of Dick\u2019s common stock for each Foot Locker share that they own.<\/p>\n\n\n\n

The footwear industry has been growing increasingly concerned over Trump\u2019s trade war with other countries, particularly China. Athletic shoe makers have invested heavily in production in Asia.<\/p>\n\n\n\n

Shares of sporting goods and athletic shoe companies have been under pressure all year.<\/p>\n\n\n\n

About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Using factories overseas has kept labor costs down for U.S. companies, but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs.<\/p>\n\n\n\n

Foot Locker offers Dick\u2019s a lot of potential, namely its huge real estate footprint, and would give the Pittsburgh company its first foothold overseas.<\/p>\n\n\n\n

Foot Locker has about 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand. It also has a licensed store presence in Europe, the Middle East and Asia. The company had global sales of $8 billion last year.<\/p>\n\n\n\n

Dick\u2019s, started by Dick Stack in Binghamton, N.Y., said that it anticipates closing on the Foot Locker deal in the second half of the year. The transaction still needs approval from Foot Locker shareholders.<\/p>\n\n\n\n

Dick\u2019s stock dropped more than 13% before the market opened, while shares of Foot Locker surged more than 82%<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Dick\u2019s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders… <\/p>\n","protected":false},"author":2,"featured_media":55743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"4","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":true,"token":"eyJpbWciOiJodHRwczpcL1wvaTAud3AuY29tXC9sYWtlbGFuZGdhemV0dGUuaW5mb1wvbmV3c1wvd3AtY29udGVudFwvdXBsb2Fkc1wvMjAyNVwvMDVcL2Rvd25sb2FkLTEud2VicD9maXQ9MzAwJTJDMTY4JnNzbD0xIiwidHh0IjoiRGlja1x1MjAxOXMgU3BvcnRpbmcgR29vZHMgdG8gYnV5IHNob2Ugc3RvcmUgY2hhaW4gZm9yICQyLjQgYmlsbGlvbiIsInRlbXBsYXRlIjoiaGlnaHdheSIsImJsb2dfaWQiOjE2MzA0MDY2MX0.PMD73LzFupJYamoMvCEamrIC-0kaghUriCjHB4qAAW0MQ"},"version":2,"attached_media":[{"id":55743,"url":"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2025\/05\/download-1.webp","type":"image\/jpeg"}]},"_wpas_customize_per_network":false},"categories":[4],"tags":[11500],"class_list":["post-55742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-dicks-sporting-goods-to-buy-shoe-store-chain-for-2-4-billion"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/55742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=55742"}],"version-history":[{"count":1,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/55742\/revisions"}],"predecessor-version":[{"id":55744,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/55742\/revisions\/55744"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/55743"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=55742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=55742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=55742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}