DICK'S Sporting Goods to acquire Foot Locker for $2.5bn.

DICK'S Sporting Goods, a company specializing in sporting goods and omnichannel retail, agreed to acquire Foot Locker, a company focused on global sneaker and apparel retailing, for $2.5bn. "We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve. We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker's position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers," Ed Stack, DICK'S Executive Chairman.