Dick’s plans to ‘execute the heck’ out of Foot Locker acquisition

Weeks after announcing its intention to acquire Foot Locker, Dick’s Sporting Goods reported its fifth consecutive quarter of over 4% comparable sales growth, with net sales rising 5.2% to nearly $3.2 billion in the first quarter. Despite challenges like tariffs and declining consumer sentiment, the company reaffirmed its full-year guidance, expecting comparable sales growth between 1% and 3% and net sales reaching up to $13.9 billion. During this period, Dick’s continued to revamp its store fleet, opening new House of Sport and Field House locations and converting some Public Lands stores, although it has scaled back its outdoor business. 

Despite strong financial results, Dick’s faced scrutiny over its planned acquisition of Foot Locker, with analysts questioning whether the move is strategically sound. Executive Chairman Ed Stack emphasized that the acquisition aims to strengthen brand partnerships, expand into urban markets, and capture more of the $300 billion sportswear industry, which Dick’s currently only partially serves. CEO Lauren Hobart highlighted that, although Dick’s could thrive independently, the acquisition is a long-term strategic move to stay competitive amidst rising rivals like JD Sports. The company believes that combining with Foot Locker will enhance operational efficiency, brand collaborations, and market share, signaling a shift toward more aggressive growth strategies beyond organic expansion. 

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Dick’s plans to ‘execute the heck’ out of Foot Locker acquisition | Retail Dive