Dick’s Sporting Goods plans to acquire Foot Locker for dominance in sports retail
As President Trump adjusts tariffs, Dick’s aims to leverage Foot Locker’s market presence to serve a broader global audience in the sports retail industry.
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Dick’s Sporting Goods plans to close some Foot Locker stores after acquiring the shoe retailer earlier this year.
Dick’s confirmed in its third quarter earnings report on November 25 that it will begin addressing “unproductive” Foot Locker assets, including closing “unprofitable” stores.
In an earnings call with investors, Dick’s Executive Chairman Ed Stack said the company had identified an initial number of these assets.
“I need to clean out the garage,” Stack said. “This means clearing out unproductive inventory, closing unprofitable stores, and right-sizing assets that are not consistent with our future vision for the Foot Locker business.”
Dick’s completed its acquisition of Foot Locker on September 8, after first announcing the $2.4 billion deal in May.
Which Foot Locker stores will be closing?
In response to a USA TODAY inquiry seeking more information about which Foot Locker stores will close and when, Dix pointed to comments from Stack and other executives on a Nov. 25 conference call. The company did not provide a list or schedule.
“We are evaluating the store closure situation and are still working through this issue. There are some stores that we believe will close,” Stack said, adding that he expects to share more information during the fourth-quarter earnings release.
Stack also said Dick’s will implement “pricing actions” meaning price changes at Foot Locker stores late in the third quarter and will be “more aggressive” in the fourth quarter.
The company has not disclosed a timeline for store closures, but Stack said Dick’s aims to complete inventory changes by the end of the year to put Foot Locker on track for a “tipping point” for next year’s back-to-school season.
“Our priority is to position Foot Locker for a fresh start in 2026 and reset the business for long-term success,” said Dick’s Chief Financial Officer Navdeep Gupta.
What you need to know about Dick’s Q3 earnings
Dick’s said in its earnings call that net sales exceeded $4 billion in the third quarter of 2025.
More than $3 billion of the total net sales came from Dick’s, with the remainder coming from Foot Locker sales since the Sept. 8 acquisition.
Dick’s also said it opened 13 new House of Sports locations and six new Fieldhouse locations during the third quarter.
Additionally, the company raised its comparable sales growth forecast range for the full year 2025 from 2-3.5% to a maximum of 3.5-4%.
Melina Khan is USA TODAY’s national trends reporter. Contact her at melina.khan@usatoday.com.
