Dicks Sporting Goods (NYSE: DKS) is in advanced talks to acquire Foot Locker (NYSE: FL) in a deal valued at approximately $2.3 billion, according to The Wall Street Journal. The proposed offer values Foot Locker at $24 per share, representing an 86% premium over its most recent closing price of $12.87.
Since the news broke, Dick stock has fallen by 8.02%, while Foot Locker shares have surged by 82.21%, with the stock now trading close to $24 per share.
Sources familiar with the matter told the Journal that the deal could be finalized as soon as Thursday, assuming there are no unexpected delays. If completed, the acquisition would mark the largest in Dicks corporate history, significantly expanding its international reach through Foot Locker’s overseas operations.
Foot Locker (NYSE: FL) shares have struggled in 2025, falling approximately 41% year-to-date. The decline can be attributed to several factors, including weaker-than-expected sales, shifting pricing strategies at key brand partner Nike (NYSE: NKE), and concerns over proposed tariffs from U.S. President Donald Trump. While many of those levies were later paused, the initial impact still weighed heavily on the retailer’s stock.
Trump’s tariff announcement last month dealt a particularly harsh blow to the footwear industry. The prospect of increased import costs and supply chain disruptions—especially for products sourced from China, a major hub for sneaker manufacturing—shook investor confidence. Even though the subsequent delay in implementing these tariffs provided some much-needed relief, the initial shock reverberated across the sector.
Dicks Sporting Goods (NYSE: DKS), which also operates Golf Galaxy stores, has not been immune to the fallout. Its stock has declined more than 8% in 2025, reflecting broader industry headwinds and similar concerns around trade policy and consumer demand.
The proposed acquisition of Foot Locker comes just weeks after Skechers (NYSE: SKX) agreed to a $9.4 billion buyout by 3G Capital, underscoring a trend of consolidation in the sporting goods and sneaker industry as companies seek scale amid global uncertainty.
Maria Reed is a financial journalist with a passion for covering US equities. She joined the ABBO News team in June 2023. Maria holds an M.S. degree in International Economics and Finance from Otto-von-Guericke University in Magdeburg and is a CFA Level 2 candidate. Read Full Bio
