Latest news with #DICK'S
Associated Press
5 days ago
- Business
- Associated Press
The DICK'S Sporting Goods Foundation Quarterly Giving Series: Q1 2025
Originally published on DICK'S Sporting Goods Sideline Report TOGETHER, WE CHANGE LIVES Today we're bringing you the latest quarterly giving series from The DICK'S Sporting Goods Foundation to highlight the great work being done in support of our mission to help inspire and enable youth sports participation. In our first quarter of 2025, we: Read on to learn more. Disaster Relief Fundraiser Update In February, DICK'S Sporting Goods and The DICK'S Sporting Goods Foundation pledged more than $10 million to support communities impacted by the devastating wildfires in Los Angeles and the historic flooding in Asheville, North Carolina following Hurricane Helene. Through a four-week disaster relief campaign at point-of-sale (POS), store teammates raised $977,000. The DICK'S Foundation matched those donations – and brought the total giving from the campaign to $2 million. All proceeds are being directed to schools and non-profit organizations in the Los Angeles and Asheville areas affected by the recent disasters. Read more about DICK'S and The DICK'S Sporting Goods Foundation's $10 million natural disaster relief and recovery pledge here. Scoring Big for Sports Matter We clinched a win on and off the ice at this year's 7th annual Sports Matter Night with the Pittsburgh Penguins! More than $19,000 was raised for our Sports Matter Program through our Sports Matter Auction, sale of warm up and mystery pucks and our special ticket offer. We were joined by local corporate and field teammates. During the game's first intermission, The DICK'S Sporting Goods Foundation surprised Pittsburgh I.C.E. with a $25,000 Sports Matter Grant! The organization offers kids of all socio-economic backgrounds the opportunity to lace up and learn to play hockey. Run It Back: DICK'S & Brooks Team Up for the 2025 Empower Her Collection For the sixth year in a row, DICK'S Sporting Goods and Brooks are teaming up to give every girl a chance to run with the Empower Her Collection. DICK'S and Brooks together will donate $1 for every pair of socks, $5 for every apparel item and $10 for every pair of shoes with The DICK'S Sporting Goods Foundation logo on it sold through Dec. 31, 2025, up to a combined total of $500,000, to Marathon Kids via The DICK'S Sporting Goods Foundation. Check out the 2025 Empower Her Collection here. Celebrating Those Protecting Public Lands Guides at Public Lands nominated three outstanding organizations for a Public Lands Fund grant. My Team Triumph, The Hiking Buddies and Allegheny Cleanways will each receive a $5,000 grant to continue work to conserve public lands and create a more accessible and equitable outdoors. Learn more about the Public Lands Fund here. THESE MOMENTS ARE MADE POSSIBLE BY CONTRIBUTIONS TO THE SPORTS MATTER FUND. IF YOU'D LIKE TO DONATE, VISIT Written by Hilary Totin Visit 3BL Media to see more multimedia and stories from DICK'S Sporting Goods
USA Today
6 days ago
- Entertainment
- USA Today
Gear up for Father's Day with the ultimate DICK'S Sporting Goods gift guide
Gear up for Father's Day with the ultimate DICK'S Sporting Goods gift guide Feeling stuck and don't know what to get your dad for Father's Day? Well, you're not alone as many wind up scrambling for last-minute gifts. However, that scramble can be eliminated with one simple solution: DICK'S Sporting Goods! Whether your dad is into golfing, running, biking, being outdoors or weight lifting, DICK'S has a wide variety of great gift options available to truly make your dad feel cared for. More gift ideas: Father's Day gift ideas for the sports fan, outdoorsy guy and grill master dad To help you out, we curated the ultimate Father's Day gift guide that you're practically guaranteed to score a big hug and smile from dad this year. Here's a glance at some of the top products DICK'S has available for dad. Shop gifts for dad at DICK'S Sporting Goods 1. Callaway Elyte driver Summer is the perfect time to head to the driving range or hit the golf course for 18 holes. This new driver from Callaway earned a full write up from Golfweek's equipment guru David Dusek. 2. '47 Adult New York Knicks Clean Up adjustable hat As the NBA Playoffs wind down, repping his favorite team is a common theme for many dads. The clean up adjustable hat is sure to be a staple that he'll be wearing for years to come. 3. Nike Brasilia 9.5 training duffel bag A great multi-use duffel bag that can be used for going to the gym, the golf course and much more. The duffel bag includes a coated bottom for water resistance and durability and is for the practical dad. 4. Brooks men's Ghost 17 running shoes Using a super old pair of running shoes is a common trend with dad's as they're always attempting to "save money" when possible. Well, treat dad to a fresh pair of Brooks Ghost 17 running shoes, which feature great dynamic cushioning. 5. Golf Daddy - Golf At home simulator This caught my eye right away. For many who can't head out to a golf simulator on a weekly basis but want to work on their golf game, this golf at home simulator is the perfect gift. Now dad is able to work on his golf swing anytime, anywhere, even without a ball. 6. Mongoose Adult 29' Grendel adventure bike Running a bike into the ground is also something a lot of dads do, because, well, money is precious. Treat dad to a brand new bike that is made for off-road biking. 7. Nike Men's Club fleece hoodie Fleece hoodies are always a great gift as they can easily become staples for dad to use for years to come. The combination of soft and smooth materials helps make this a go-to. 8. birddogs mens khaki shorts You know it's summer time when dad breaks out the ripped and tattered khaki shorts he bought over 10 years ago. They might be called his "mowing shorts." Freshen up his look with some new khaki shorts that are breathable and will keep him cool. 9. Fitness Gear 300 lb. Olympic weight set Trash those rusty looking dumbbells for a fresh set of weights that's sold exclusively by DICK'S. Dad's will love the ability to do a wide range of exercises with this weight set, which includes multiple plates. 10. Nike men's calm slides Whether you're out on the deck, at the community pool or on the beach, slides are an underrated option that always perform. These slides feature a soft, yet supportive foam. When is Father's Day 2025? Father's Day in 2025 is Sunday, June 15.
Malaysian Reserve
16-05-2025
- Business
- Malaysian Reserve
DICK'S Sporting Goods to Acquire Foot Locker to Create a Global Leader in the Sports Retail Industry
Combination creates global platform within the growing sports retail industry, positioned to serve evolving needs of a broader range of consumers Poised to drive long-term success through innovative store concepts and digital experiences Foot Locker shareholders can elect to receive either $24.00 in cash or 0.1168 shares of DICK'S Sporting Goods common stock for each share of Foot Locker common stock Transaction expected to be accretive to DICK'S Sporting Goods EPS in the first full fiscal year post-close (excludes one-time costs) PITTSBURGH and NEW YORK, May 15, 2025 /PRNewswire/ — DICK'S Sporting Goods, Inc. ('DICK'S') (NYSE: DKS), a leading U.S. based full-line omni-channel sporting goods retailer, and Foot Locker, Inc. ('Foot Locker') (NYSE: FL), a leading footwear and apparel retailer, today announced that they have entered into a definitive merger agreement under which DICK'S will acquire Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of approximately $2.5 billion. Foot Locker has a strong history of sneaker expertise that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. It encompasses approximately 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand, and a licensed store presence in Europe, the Middle East and Asia. In 2024, Foot Locker achieved net worldwide sales of $8 billion. DICK'S expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands. 'We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve,' said Ed Stack, Executive Chairman of DICK'S. '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.' 'We look forward to welcoming Foot Locker's talented team and building upon their expertise and passion for their business, which we intend to honor and amplify together,' said Lauren Hobart, President and CEO of DICK'S. 'Sports and sports culture continue to be incredibly powerful, and with this acquisition, we'll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases.' 'Today's announcement marks the start of an exciting new chapter for Foot Locker and is a testament to our team's hard work and dedication to our mission,' said Mary Dillon, CEO of Foot Locker. 'By joining forces with DICK'S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry. We are pleased to provide shareholders with a transaction structure that offers the choice of significant and immediate cash value or the opportunity to invest in the combined company and benefit from the substantial upside potential. I am proud of all that our teams around the world, including our Stripers, have accomplished to reach this milestone moment, and am confident this transaction represents the best path for our shareholders and other stakeholders.' The proposed acquisition represents an important strategic milestone for DICK'S whereby the combined company offers significant strategic and financial benefits: Create a global platform within the growing sports retail industry. The transaction will better position the combined company to serve consumers worldwide and expands DICK'S addressable market opportunity. By combining with Foot Locker, DICK'S will be poised to serve consumers not only in new locations in the U.S. through Foot Locker's complementary real estate portfolio, but also internationally for the first time. With strong long-term industry tailwinds, the combined company is well positioned for long-term growth. Serve a broader set of consumers across differentiated concepts. Iconic concepts will cater to a broad spectrum of consumers, from performance-focused athletes to sneakerheads. Building upon the groundbreaking learnings from DICK'S House of Sport and Foot Locker's Reimagined Concept stores, the combined company will provide an unmatched immersive and innovative retail experience for consumers. Strengthen relationships with brand partners through global reach. Together, DICK'S and Foot Locker will serve as a stronger partner for key brands, offering multiple platforms for both established and emerging partners to showcase their assortments, connect with athletes and increase visibility on a global level. Invest in future growth through an industry-leading omnichannel experience. DICK'S has a history of strong growth and aims to invest in and grow the Foot Locker brand and position the combined company for long-term success. The combination will drive growth through differentiated store concepts and robust digital experiences to enable sustainable long-term profitable growth. Unlock operational efficiencies that create shareholder value. DICK'S expects the transaction to be accretive to EPS in the first full fiscal year post-close (excludes transaction and other one-time costs to achieve synergies) and to deliver between $100 to $125 million in cost synergies in the medium-term achieved through procurement and direct sourcing efficiencies. Additional Transaction Details Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of DICK'S and Foot Locker, Foot Locker shareholders will elect to receive either (i) $24.00 in cash or (ii) 0.1168 shares of DICK'S common stock for each share of Foot Locker common stock. The election is not subject to a minimum or maximum amount of cash or stock consideration. Based on the closing price of Foot Locker common stock on 5/14/2025, the $24.00 per-share consideration represents a premium of approximately 66% to Foot Locker's 60-trading day volume weighted average price. The total consideration represents an acquisition multiple of approximately 6.1x fiscal 2024 adjusted EBITDA. DICK'S intends to finance the acquisition through a combination of cash-on-hand and new debt. The transaction is subject to Foot Locker shareholder approval and other customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2025. Goldman Sachs is serving as financial advisor to DICK'S and provided fully committed bridge financing. Wachtell, Lipton, Rosen & Katz is serving as DICK'S legal advisor. Evercore is serving as financial advisor to Foot Locker, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as Foot Locker's legal advisor. Conference Call Info DICK'S management will host a conference call today at 9:00 a.m. Eastern Time to discuss the proposed acquisition. Investors will have the opportunity to listen to the conference call over the internet through the Company's website located at To listen to the live call, please go to the website at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, it will be archived on the Company's website for approximately twelve months. About DICK'S Sporting Goods DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer serves athletes and outdoor enthusiasts in more than 850 DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! stores, online, and through the DICK'S mobile app. DICK'S also owns and operates DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping. Driven by its belief that sports have the power to change lives, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving and employment opportunities can be found on and on Instagram, TikTok, Facebook and X. About Foot Locker Foot Locker, Inc. is a leading footwear and apparel retailer that unlocks the 'inner sneakerhead' in all of us. With approximately 2,400 retail stores in 20 countries across North America, Europe, Asia, Australia, and New Zealand, and a licensed store presence in Europe, the Middle East and Asia, Foot Locker has a strong history of sneaker authority that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. Contacts: DICK'S Sporting Goods Investor Relations:Nate Gilch, Senior Director of Investor RelationsDICK'S Sporting Goods, (724) 273-3400 Media Relations:(724) 273-5552 or press@ Foot Locker Kate FitzsimonsInvestor Relationsir@ Leigh ParrishJoele Frank, Wilkinson Brimmer Katcherlparrish@ Category: Company Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties This communication contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as 'believe', 'anticipate', 'expect', 'estimate', 'predict', 'intend', 'plan', 'project', 'goal', 'will', 'will be', 'will continue', 'will result', 'could', 'may', 'might' or any variations of such words or other words with similar meanings. Any statements about DICK'S Sporting Goods, Inc.'s ('DICK'S Sporting Goods'), Foot Locker, Inc.'s ('Foot Locker') or the combined company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond DICK'S Sporting Goods', Foot Locker's and the combined company's control. DICK'S Sporting Goods', Foot Locker's and the combined company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the benefits of the combination of DICK'S Sporting Goods and Foot Locker (the 'Transaction'), including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, current macroeconomic conditions, including prolonged inflationary pressures, potential changes to international trade relations, geopolitical conflicts and adverse changes in consumer disposable income; supply chain constraints, delays and disruptions; fluctuations in product costs and availability due to tariffs, currency exchange rate fluctuations, fuel price uncertainty and labor shortages; changes in consumer demand for products in certain categories and consumer lifestyle changes; intense competition in the sporting goods industry; the overall success of DICK'S Sporting Goods', Foot Locker's and the combined company's strategic plans and initiatives; DICK'S Sporting Goods', Foot Locker's and the combined company's vertical brand strategy and plans; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to optimize their respective distribution and fulfillment networks to efficiently deliver merchandise to their stores and the possibility of disruptions; DICK'S Sporting Goods', Foot Locker's and the combined company's dependence on suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; the potential impacts of unauthorized use or disclosure of sensitive or confidential customer, employee, vendor or other information; the risk of problems with DICK'S Sporting Goods', Foot Locker's and the combined company's information systems, including e-commerce platforms; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to attract and retain customers, executive officers and employees; increasing labor costs; the effects of the performance of professional sports teams within DICK'S Sporting Goods', Foot Locker's and the combined company's core regions of operations; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to control expenses and manage inventory shrink; the seasonality of certain categories of DICK'S Sporting Goods', Foot Locker's and the combined company's operations and weather-related risks; changes in applicable tax laws, regulations, treaties, interpretations and other guidance; product safety and labeling concerns; the projected range of capital expenditures of DICK'S Sporting Goods, Foot Locker and the combined company, including costs associated with new store development, relocations and remodels and investments in technology; plans to return capital to stockholders through dividends and share repurchases, if any; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to meet market expectations; the influence of DICK'S Sporting Goods' Class B common stockholders and associated possible scrutiny and public pressure; compliance and litigation risks; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to protect their respective intellectual property rights or respond to claims of infringement by third parties; the availability of adequate capital; obligations and other provisions related to DICK'S Sporting Goods', Foot Locker's and the combined company's indebtedness; DICK'S Sporting Goods', Foot Locker's and the combined company's future results of operations and financial condition; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Transaction; the outcome of any legal proceedings that may be instituted against DICK'S Sporting Goods or Foot Locker, including with respect to the Transaction; the possibility that the Transaction does not close when expected or at all because required regulatory or shareholder approvals or other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the benefits from the Transaction, including anticipated cost synergies, may not be fully realized or may take longer to realize than expected; the ability to promptly and effectively integrate the businesses of DICK'S Sporting Goods and Foot Locker following the closing of the Transaction; the dilution caused by the issuance of shares of DICK'S Sporting Goods common stock in the Transaction; the possibility that a Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the terms of the debt financing incurred in connection with the Transaction; reputational risk and potential adverse reactions of DICK'S Sporting Goods' or Foot Locker's customers, employees or other business partners; and the diversion of DICK'S Sporting Goods' and Foot Locker's management's attention and time from ongoing business operations and opportunities due to the Transaction. These factors are not necessarily all of the factors that could cause DICK'S Sporting Goods', Foot Locker's or the combined company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm DICK'S Sporting Goods', Foot Locker's or the combined company's results. For additional information on these and other factors that could affect DICK'S Sporting Goods' or Foot Locker's actual results, see the risk factors set forth in DICK'S Sporting Goods' and Foot Locker's filings with the Securities and Exchange Commission (the 'SEC'), including DICK'S Sporting Goods' most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC, and Foot Locker's most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC. DICK'S Sporting Goods and Foot Locker disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation, except as required by applicable law or regulation. Forward-looking statements included in this presentation are made as of the date of this presentation. Additional Information about the Merger and Where to Find It In connection with the Transaction, DICK'S Sporting Goods intends to file with the SEC a registration statement on Form S-4, which will include a proxy statement of Foot Locker that also constitutes a prospectus for the shares of DICK'S Sporting Goods common stock to be offered in the Transaction. Each of DICK'S Sporting Goods and Foot Locker may also file other relevant documents with the SEC regarding the Transaction. This communication is not a substitute for the proxy statement/prospectus or registration statement or any other document that DICK'S Sporting Goods or Foot Locker may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to shareholders of Foot Locker. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT DICK'S SPORTING GOODS, FOOT LOCKER, THE TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about DICK'S Sporting Goods, Foot Locker and the Transaction once such documents are filed with the SEC through the website maintained by the SEC at Copies of the documents filed with the SEC by DICK'S Sporting Goods will be available free of charge on DICK'S Sporting Goods' website at Copies of the documents filed with the SEC by Foot Locker will be available free of charge on Foot Locker's website at Participants in the Solicitation DICK'S Sporting Goods, Foot Locker and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Transaction. Information about the directors and executive officers of DICK'S Sporting Goods is set forth in DICK'S Sporting Goods' proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on May 2, 2025 and is available at under the headings 'Corporate Governance,' 'Director Compensation,' 'Executive Compensation,' 'Transactions with Related Persons' and 'Stock Ownership,' DICK'S Sporting Goods' Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at and to the extent holdings of DICK'S Sporting Goods securities by its directors or executive officers have changed since the amounts set forth in DICK'S Sporting Goods' proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC. Information about the directors and executive officers of Foot Locker is set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on April 10, 2025 and is available at under the headings 'Governance,' 'Director Compensation,' 'Executive Compensation' and 'Shareholder Ownership,' Foot Locker's Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at and to the extent holdings of Foot Locker securities by its directors or executive officers have changed since the amounts set forth in Foot Locker's proxy statement for its 2025 annual meeting of shareholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Transaction when such materials become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Copies of the documents filed with the SEC by DICK'S Sporting Goods and Foot Locker will be available free of charge through the website maintained by the SEC at Additionally, copies of documents filed with the SEC by DICK'S Sporting Goods will be available free of charge on DICK'S Sporting Goods' website at and those filed by Foot Locker will be available free of charge on Foot Locker's website at
Yahoo
15-05-2025
- Business
- Yahoo
Why Are Foot Locker (FL) Shares Soaring Today
Shares of footwear and apparel retailer Foot Locker (NYSE:FL) jumped 85.2% in the morning session after the company agreed to be acquired by DICK'S for an equity value of approximately $2.4 billion (enterprise value of $2.5 billion). The offer of $24 per share in cash or 0.1168 shares of DICK'S stock represented a substantial 66% premium over Foot Locker's average trading price for the previous 60 days. Is now the time to buy Foot Locker? Access our full analysis report here, it's free. Foot Locker's shares are extremely volatile and have had 30 moves greater than 5% over the last year. But moves this big are rare even for Foot Locker and indicate this news significantly impacted the market's perception of the business. The biggest move we wrote about over the last year was 12 months ago when the stock gained 28.2% on the news that the company reported first-quarter results that blew past analysts' EPS expectations. While Comparable sales decreased, this was mostly driven by the continued repositioning of the Champs Sports banner. Core banners strengthened as Global Foot Locker and Kids Foot Locker comparable sales increased 1.1%. Inventory levels improved, with merchandise inventories down 5.6%, indicating a better handle on stock management, which should potentially mitigate the risk of future markdowns. Guidance was likewise solid as its full-year earnings guidance exceeded Wall Street's estimates. In line with the company's retail strategy, Footlocker planned to open four more locations during the year, which could be a sign that the growth and turnaround strategy were working as planned. Zooming out, we think this was a fantastic quarter that should have shareholders cheering. Foot Locker is up 9.7% since the beginning of the year, but at $23.77 per share, it is still trading 27.9% below its 52-week high of $32.96 from August 2024. Investors who bought $1,000 worth of Foot Locker's shares 5 years ago would now be looking at an investment worth $935.15. Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Fibre2Fashion
15-05-2025
- Business
- Fibre2Fashion
US retailer Dick's to acquire Foot Locker in $2.4 billion deal
DICK'S Sporting Goods, Inc. ("DICK'S") (NYSE: DKS), a leading U.S. based full-line omni-channel sporting goods retailer, and Foot Locker, Inc. ("Foot Locker") (NYSE: FL), a leading footwear and apparel retailer, announced that they have entered into a definitive merger agreement under which DICK'S will acquire Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of approximately $2.5 billion. Dick's Sporting Goods will acquire Foot Locker in a $2.4 billion deal, operating it as a standalone unit. The merger expands Dick's global reach, adds ~2,400 stores, and boosts presence in sneaker culture. It aims to drive growth through omnichannel retail, enhance brand partnerships, and achieve $100â€'$125 million in synergies while serving a broader consumer base. Foot Locker has a strong history of sneaker expertise that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. It encompasses approximately 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand, and a licensed store presence in Europe, the Middle East and Asia. In 2024, Foot Locker achieved net worldwide sales of $8 billion. DICK'S expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands. "We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve," said Ed Stack, Executive Chairman of DICK'S. "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." "We look forward to welcoming Foot Locker's talented team and building upon their expertise and passion for their business, which we intend to honor and amplify together," said Lauren Hobart, President and CEO of DICK'S. "Sports and sports culture continue to be incredibly powerful, and with this acquisition, we'll create a new global platform that serves those ever-evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases." "Today's announcement marks the start of an exciting new chapter for Foot Locker and is a testament to our team's hard work and dedication to our mission," said Mary Dillon, CEO of Foot Locker. "By joining forces with DICK'S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry. We are pleased to provide shareholders with a transaction structure that offers the choice of significant and immediate cash value or the opportunity to invest in the combined company and benefit from the substantial upside potential. I am proud of all that our teams around the world, including our Stripers, have accomplished to reach this milestone moment, and am confident this transaction represents the best path for our shareholders and other stakeholders." The proposed acquisition represents an important strategic milestone for DICK'S whereby the combined company offers significant strategic and financial benefits: Create a global platform within the growing sports retail industry. The transaction will better position the combined company to serve consumers worldwide and expands DICK'S addressable market opportunity. By combining with Foot Locker, DICK'S will be poised to serve consumers not only in new locations in the U.S. through Foot Locker's complementary real estate portfolio, but also internationally for the first time. With strong long-term industry tailwinds, the combined company is well positioned for long-term growth. Serve a broader set of consumers across differentiated concepts. Iconic concepts will cater to a broad spectrum of consumers, from performance-focused athletes to sneakerheads. Building upon the groundbreaking learnings from DICK'S House of Sport and Foot Locker's Reimagined Concept stores, the combined company will provide an unmatched immersive and innovative retail experience for consumers. Strengthen relationships with brand partners through global reach. Together, DICK'S and Foot Locker will serve as a stronger partner for key brands, offering multiple platforms for both established and emerging partners to showcase their assortments, connect with athletes and increase visibility on a global level. Invest in future growth through an industry-leading omnichannel experience. DICK'S has a history of strong growth and aims to invest in and grow the Foot Locker brand and position the combined company for long-term success. The combination will drive growth through differentiated store concepts and robust digital experiences to enable sustainable long-term profitable growth. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
