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Dick's Sporting Goods is buying struggling sneaker chain Foot Locker for $2.4 billion

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The footwear industry has been growing increasingly concerned over Trump's trade war with other countries, particularly China. Athletic shoe makers have invested heavily in production in Asia.
Dick's Sporting Goods has announced its acquisition of the sneaker chain Foot Locker for $2.4 billion, aiming to expand its footprint in the athletic footwear market. The deal, which is expected to close by the end of 2025, will see Dick's Sporting Goods leverage Foot Locker's extensive network of over 3,000 stores worldwide and its strong brand presence in the sneaker culture. This strategic move is anticipated to enhance Dick's product offerings, drive growth, and improve its competitive edge against other major players in the sports retail sector. The acquisition comes at a time when the demand for athletic and leisure footwear continues to surge, reflecting broader trends in consumer behavior towards health and fitness.

Read the Full Fortune Article at:
[ https://fortune.com/2025/05/15/dicks-sporting-goods-buying-sneaker-chain-foot-locker-2-4-billion/ ]