US senator calls for antitrust scrutiny of Dick's bid for Foot Locker
'The combination of Dick's Sporting Goods and Foot Locker would decrease competition in the retail athletic footwear markets, cut jobs, raise prices, and leave Americans to foot the bill. This is particularly concerning given that more than half of parents 'plan to sacrifice necessities, such as groceries', because of rising prices for back-to-school shopping, including sneakers,' said Warren.
US senator Elizabeth Warren urged the FTC and DOJ to scrutinise and potentially block Dick's $2.4 billion bid to acquire Foot Locker, warning it could reduce competition, raise pricesâ€'especially for struggling familiesâ€'and lead to job losses and harm to small businesses. She cited rising back-to-school costs, potential store closures, and increased market dominance as concerns.
In May 2025, Dick's Sporting Goods announced its intention to acquire Foot Locker for $2.4 billion, which would combine the US' largest sporting goods retailer with one of the largest athletic shoe retailers in the country. The new giant would allow Dick's to control more than 15 per cent of the US sporting goods market and could create a duopoly with the current largest athletic footwear retailer, JD Sports.
'The size of the deal and each company's significant presence in the athletic footwear market suggests this deal merits significant scrutiny from antitrust agencies…If competitors Dick's and Foot Locker combined, the resulting elimination of competition could lead to higher prices for consumers and other negative effects… Higher prices on athletic footwear could lead to further economic hardship for parents,' added Warren.
Families are already struggling amid rising prices for clothes and shoes: 39 per cent of parents say 'they can't afford back-to-school shopping this year', and 44 per cent 'plan to take on debt to cover the cost of school supplies'.
The deal also poses a threat to workers. Due to the overlap in Dick's and Foot Locker stores, Foot Locker has already announced that some stores would likely close as a result of the acquisition. The resulting job losses could put additional strain on local communities, which are already facing historic rates of retail store closures, the company said in a press release.
The proposed deal could also hurt small businesses. The new company would have significantly increased power to extract favourable conditions with manufacturers, putting independent retailers at a disadvantage and giving Dick's and Foot Locker an incentive to engage in anticompetitive conduct to restrict suppliers from dealing with independent retailers.
Warren highlighted the benefit of preserving competition as exemplified by a federal judge's blocking Kroger and Albertsons' proposed merger and recent comments by the new CEO of Albertsons, who said the company now planned to improve to keep prices low to attract more shoppers' in order to compete with rival companies. 'This is a striking example of the benefits of competition for consumers, and should give antitrust agencies the confidence to continue vigorously enforcing antitrust law,' said Warren.
This megadeal also comes as consumers face increased athletic shoe costs from President Trump's chaotic tariff policy. As a result of the administration's erratic trade policy—and the uncertainty it has created—economists project that shoe prices are slated to rise by 44 per cent.
'This deal could raise prices for families already facing higher sneaker costs from President Trump's tariffs and threaten workers and small businesses. The FTC and DOJ should carefully scrutinise this merger and block it if it illegally harms competition in violation of federal law,' concluded Warren.
Fibre2Fashion News Desk (RR)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
an hour ago
- Time of India
First August social security payments hit this week, but some ckecks could be shockingly smaller
How will Social Security payments be scheduled this August 2025? August 13: For recipients born between the 1st and 10th For recipients born between the 1st and 10th August 20: For birthdates from the 11th to 20th For birthdates from the 11th to 20th August 27: For those born between the 21st and 31st What is the maximum Social Security payment in August 2025? Live Events Why is the SSA switching to electronic payments only in 2025? How will the 2025 cost-of-living adjustment affect Social Security benefits? What new tax relief will Social Security beneficiaries see in 2025? Are Social Security benefits at risk of future cuts? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel As millions of Americans depend on Social Security to meet their monthly expenses, the August 2025 payment cycle arrives with critical updates shaping when and how funds land in bank accounts. With the Social Security Administration (SSA) fine-tuning payment dates, moving to electronic-only disbursements, and rolling out a fresh cost-of-living adjustment (COLA), understanding these changes is vital for retirees, disabled workers, and their SSA's staggered payment system remains firmly in place this August, carefully calibrated to ease cash flow pressures and streamline benefit processing. Instead of one blanket payment day, Social Security benefits will be released over three Wednesdays in August:This method aims to prevent backlogs and ensure timely deposits, but it means beneficiaries must stay alert to their exact payment Security Income (SSI) recipients should note a unique twist: two payments will hit accounts this month — one on August 1 for August benefits, and another on August 29 covering September. This double payout is a direct result of the Labor Day holiday impacting the usual brings a notable boost for those who delayed retirement until age 70, with the maximum monthly benefit climbing to $5,108. This figure reflects the SSA's ongoing effort to reward sustained workforce participation and robust earnings over a most beneficiaries will receive amounts based on their unique work histories and retirement age. For a tailored estimate, the SSA encourages users to check their personal 'my Social Security' accounts or speak directly with agency of the most consequential shifts on the horizon is the SSA's planned end to paper checks by September 30, 2025. From that date forward, Social Security payments will be delivered exclusively via electronic means — either direct deposit into bank accounts or prepaid debit cards like Direct digital-only move is driven by security concerns, cost-saving imperatives, and a push to combat fraud linked to mailed checks. While the SSA may allow limited exceptions, beneficiaries should proactively confirm their banking information is up to date to avoid payment years of inflationary pressure, the SSA announced a 2.6% cost-of-living adjustment (COLA) for 2025. This boost helps shield beneficiaries from rising costs in essentials such as food, energy, and healthcare — expenses that weigh heavily on fixed the increase may seem modest, for many seniors and disabled Americans, every dollar matters in stretching monthly the recently enacted 'One Big Beautiful Bill Act,' seniors aged 65 and older earning less than $75,000 (or $150,000 for couples) become eligible for expanded tax deductions — $6,000 for individuals and $12,000 for joint tax relief aims to ease the financial burden on approximately 90% of Social Security recipients, offering welcome breathing room amid climbing living these positive developments, looming concerns over Social Security's long-term solvency remain. Current projections warn of potential insolvency within eight years if Congress fails to enact meaningful reforms. Should that happen, benefit cuts as deep as 23% could be on the stark reality underscores the urgency for beneficiaries to stay informed on legislative efforts and consider contingency Social Security evolves amid shifting economic and policy landscapes, staying ahead of payment schedules, benefit adjustments, and regulatory changes is essential for millions relying on this vital income. The August 2025 updates spotlight both the challenges facing American retirees and the government's attempts to modernize and safeguard the precise, personalized information, beneficiaries should visit the official Social Security website or consult trusted financial advisors to navigate these changes with will be staggered over three Wednesdays—August 13, 20, and 27—based on your starting September 30, 2025, all Social Security payments will be electronic maximum benefit for those delaying retirement until age 70 is $5, your banking information through your 'my Social Security' account or sign up for the Direct Express prepaid debit card.
NDTV
2 hours ago
- NDTV
Should Trump Have Imposed Tariff On India Over Russian Oil? Survey Finds...
America shouldn't have imposed tariffs on India over its exports of oil from Russia, a survey by a US-based think tank found. While 53 percent of respondents said the move was wrong, 43 percent were for it, the survey by the Democracy Institute showed. US President Donald Trump last week ordered steeper tariffs on Indian goods over New Delhi's continued purchase of Russian oil, opening a new front in his trade wars. Trump's additional 25-percent tariff on Indian goods, set to come into place in three weeks, stacks atop a separate 25-percent duty. This takes the level to 50 percent for many products - among the highest on any American trading partner. "Given American voters' strong support for protectionist tariffs in principle, that's a surprising response," said Patrick Basham, founding director of the Democracy Institute and its lead pollster. The respondents were evenly divided (44% to 44%) on the question of whether Trump's new tariffs were good for America. Mr Basham noted that, "Although Americans remain steadfast in their support of Trump's tariffs as an instrument of industrial policy, they are unimpressed by his increasing use of tariffs to leverage geopolitical decisions on his allies." A majority (53 percent) of the sample also said that they cared about America's image in front of the Indian government and the people. Earlier, Trump had remarked that India was a "dead economy" and that he didn't care how New Delhi dealt with Moscow. "I don't care what India does with Russia. They can take their dead economies down together, for all I care," Trump had said in a social media post on August 3. After imposing the staggering 50 per cent duty, Trump ruled out any trade talks between the two countries until the tariff issue was resolved. "No, not until we get it resolved," Trump said in the Oval Office in response to a question on whether he expects more trade negotiations with India after doubling the tariffs on Indian imports to 50 per cent. An overwhelming number (64%) of the respondents believed that India's growing economic influence globally was a "good thing". Prime Minister Modi was perceived as leading a successful government and a reliable ally, according to the survey. A large majority (59 percent to 38 percent) of the respondents said that PM Modi's leadership was good for America. The only negative response, as far as India is concerned, was over a question on the H-1B visa. More than 60 percent supported ending the H-1B professional visa programme that currently sees lakhs of highly skilled Indians employed in American businesses. "The argument that H1-B visas prioritise foreigners, especially Indians, over American workers, and thereby take jobs away from Americans, resonates very strongly with the American people," observed Mr Basham. The telephone survey was conducted among 1,500 likely American voters between August 3 and August 5. The government today said that nearly 55 percent of India's merchandise exports to the US will be subject to the tariff imposed by the Trump administration. "The Department of Commerce is engaged with all stakeholders, including exporters and industry, for taking feedback of their assessment of the situation," Pankaj Chaudhary, junior finance minister, said in a written response. The Ministry of External Affairs hit back at the US for targeting it over Russian oil imports, terming the move "unfair, unjustified, and unreasonable".
Time of India
2 hours ago
- Time of India
The ugly truth of Trump's 'big beautiful bill': It will cut $186 billion in food aid leaving 18 million children hungry in America's public schools
Trump's new tax bill cuts SNAP funding and shifts costs to US states President Donald Trump's "big beautiful" tax and spending bill, signed on 4th July, carries a devastating cost for millions of American children. The legislation slashes $186 billion from the Supplemental Nutrition Assistance Program (SNAP) over the next decade — a move that threatens to leave 18 million children without access to free school meals. Food insecurity is already a pressing issue in classrooms nationwide. Teachers frequently witness students arriving hungry, struggling to focus, and unable to engage fully in their education. As Becky Pringle, president of the National Education Association (NEA), wrote in Time magazine, "School meals are more than a budget line item. They are lifelines that help millions of students learn and grow." Hunger is a barrier to learning Research from the Food Research & Action Center (FRAC) shows that children who participate in school breakfast and lunch programmes perform better academically, demonstrate improved behaviour, and have higher attendance rates. Yet, under this new law, SNAP benefits will be cut, eligibility restricted, and administrative costs shifted to states — making it harder for vulnerable families to access these crucial supports. Currently, more than 42 million Americans receive SNAP benefits to help buy food, with children constituting a significant portion of beneficiaries, according to the Center on Budget and Policy Priorities (CBPP). But the new bill tightens eligibility rules and requires states to pay a larger share of benefit costs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Our healthy baby has a hole in his heart, please help us! Donate For Health Donate Now Undo Many states face the difficult choice of raising taxes, cutting other services, or restricting food aid — all of which could mean fewer children receive the meals they need to thrive. The scale of the problem According to official data from the U.S. Department of Agriculture (USDA), the average state error rate on SNAP payments is about 10.9%, which will force many states to cover up to 15% of the programme's food benefit costs. For example, California alone could owe $1.8 billion by 2028, based on projections from Feeding America. Such financial burdens come amid already tight budgets and cuts to education and public services. States with high numbers of children eligible for free or reduced-price meals, especially in rural and southern areas, will be hardest hit. According to Food Research & Action Center (FRAC) data, nearly two-thirds of students in Texas qualify for free school meals, and in Mississippi, that figure is an astonishing 99.7%. The bill's cuts will disproportionately affect the most vulnerable communities, widening inequalities and harming children's ability to learn. Teachers are stepping in — but it's not enough Educators nationwide are already going above and beyond to support hungry students. Many spend their own money on snacks, organise food drives, or implement creative programmes to ensure no child goes hungry during the school day. However, as Pringle warns, "This isn't about whether we can afford to feed kids — it's about whether we choose to." Without federal support, schools will struggle to fill the gap left by SNAP reductions, and food banks will be unable to meet the increased demand. The long-term consequences could be severe — diminished academic achievement, poorer health, and lifelong disadvantages for millions of children. A national crisis in the making The "big beautiful" bill is a stark example of how policy decisions reverberate far beyond Capitol Hill, affecting the daily lives and futures of America's children. By cutting food assistance and shifting costs to states, it jeopardises the wellbeing and education of millions of students. Ensuring that no child goes hungry at school should be a bipartisan priority. As this law takes effect, educators, policymakers, and communities must come together to protect the essential programmes that keep children fed and ready to learn. TOI Education is on WhatsApp now. Follow us here . Ready to navigate global policies? Secure your overseas future. Get expert guidance now!
