Dick’s completed the USD 2.4 Billion acquisition of Foot Locker a move reflecting both strategic consolidation in the athletic footwear industry. As a combined company, Dick’s will now operate more than 3,200 stores plus e-commerce as well as digital businesses across 20 countries in North America, Europe, Asia, and Australia, including a licensed store presence in Europe, the Middle East and Asia.
The transaction is expected to deliver between USD 100 Million to USD 125 Million in cost synergies in the medium term, primarily through procurement and direct sourcing efficiencies, and Dick’s anticipates the transaction to be accretive to earnings per share in fiscal year 2026.
Dick’s executive chairman, Ed Stack, will lead the global Foot Locker businesses, in partnership with two new presidents, one for North America and one for international.
In case of the North America, Dick’s has named former longtime Nike executive Ann Freeman as president of the North America. Freeman spent 26 years at the Swoosh, with her most recent role served being vice president and general manager of North America.
Executive Statement
According to Freeman, the president of Foot Locker North America, together, they have an extraordinary opportunity to build on Foot Locker’s rich heritage and deliver innovative experiences to a variety of footwear consumers – from athletes to sneaker enthusiasts and everyone in between. With strong leadership in place, Dick’s and Foot Locker are well-positioned to drive growth, deepen brand partnerships, and inspire the next generation of consumers in the dynamic retail industry.