Consumer

Dick’s Sporting Goods to Buy Foot Locker for $2.4 Billion

A Dick's's Sporting Goods store in Pleasant Hill, California.
Photographer: David Paul Morris/Bloomberg

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By Kim Bhasin, Crystal Tse, and Liana Baker

May 15, 2025 at 10:18 AM UTC

Updated on

May 15, 2025 at 1:53 PM UTC

This article is for subscribers only.

Dick’s Sporting Goods Inc. reached a $2.4 billion deal to acquire Foot Locker Inc., combining two retailers troubled by President Donald Trump’s tariff wars.

Dick’s will pay $24 a share for Foot Locker, reflecting a premium of 87% on the closing share price on Wednesday, before news of the deal emerged. Shareholders in Foot Locker can also elect to receive Dick’s shares instead of cash.