Dick's Sporting Goods Moves to Acquire Foot Locker for $2.4 Billion

Published 5 hours agoDKS

Dick's Sporting Goods Moves to Acquire Foot Locker for $2.4 Billion

Dick's Sporting Goods Inc. has announced it will acquire Foot Locker in a $2.4 billion deal. Offering $24 per share, this price represents a substantial 86% premium over Foot Locker's most recent closing price. This acquisition is part of Dick's strategic efforts to fortify its presence in the athletic retail market.

Reuters reported that Dick's aims to expand its footprint in shopping malls and international markets, enhancing its customer reach significantly. The integration of Foot Locker's customer base will allow Dick's to connect with a broader demographic, including appealing to younger consumers and sneaker aficionados. Foot Locker operates 2,400 stores in 20 countries, with reported global sales of $8 billion last year.

Foot Locker will continue as a standalone business unit within Dick's portfolio, maintaining its brands such as Champs Sports and atmos. The acquisition will be funded through a combination of cash and new debt, with plans to finalize the transaction in the latter half of 2025. This move underscores the ongoing trend of consolidation in retail as companies adjust to evolving consumer dynamics.

Share this article

Twitter Facebook LinkedIn

Recent Articles

Cava Group Surpasses Revenue Expectations with Robust Q1 Results

Cava Group Surpasses Revenue Expectations with Robust Q1 Results

7 minutes agoCAVA

Cava Group Inc. has reported impressive first-quarter financial results, surpassing revenue expectations and holding steady with its annual forecasts. Driven by strong demand, the company's revenue climbed by 28.1% to $331.8 million, which exceeded market estimates of $326.9 million. According to Reuters, same-store sales also outperformed expectations with a 10.8% increase, higher than the forecasted 10.3%. The company's profit margin rose to 25.1%, up from 22.4% in the previous quarter. In alignment with these strong results, Cava plans to expand its market presence by increasing the number of new restaurant openings to 64-68 by 2025, up from an earlier target of 62-66. Additionally, Axios notes that Cava has opted not to raise menu prices further this year, aiming to maintain affordability amidst economic challenges. The company has also enhanced its loyalty program by introducing new status tiers and non-food rewards to strengthen customer retention. Cava Group remains focused on sustaining its growth trajectory, maintaining annual same-store sales growth projections of 6% to 8% and profit margin goals between 24.8% and 25.2%. These strategies demonstrate Cava’s commitment to balancing expansion with financial stability in a competitive fast-casual dining market.

Institutional Investors Boost Stakes in Meta Platforms

Institutional Investors Boost Stakes in Meta Platforms

22 minutes agoMETA

As of May 15, 2025, there are no indications that 3G Capital has increased its stake in Meta Platforms, Inc. (NASDAQ: META). This absence of investment from the giant contrasts with movements by other institutional investors actively increasing their holdings in the social media and technology behemoth. Among those showing increased interest, Third Point LLC, run by Dan Loeb, upped its stake by 22% in the fourth quarter of 2024, reaching 665,000 shares, as reported by Benzinga. Other investors like SRS Capital Advisors Inc. and Hilton Capital Management LLC also bolstered their positions by 36.6% and an impressive 2,836.9% respectively during the same period, indicating a positive sentiment towards the company. These investments suggest a strong confidence in Meta’s ongoing strategies and performance. The stock of Meta Platforms was trading at $643.88, reflecting a slight dip of $15.85 or 0.02% on the recent trading day. The session opened at $654.8, with shares peaking intraday at $657.3 and hitting a low of $638.85. With a high intraday volume of 14,273,886, these indicators paint a picture of ongoing active trading activities and interest in Meta’s market journey.

Trump Announces Over $200 Billion in Deals with UAE

Trump Announces Over $200 Billion in Deals with UAE

37 minutes agoBA

President Donald Trump has unveiled over $200 billion worth of agreements with the United Arab Emirates, marking a major boost in economic collaboration between the two countries. Among these deals is a notable $14.5 billion arrangement involving big names like Boeing, GE Aerospace, and Etihad Airways. Reuters reported that this announcement is a key highlight of Trump's recent engagements during his Gulf tour. The colossal agreement includes Boeing securing its largest order to date, a significant achievement after navigating through previous hurdles. This deal involves Etihad Airways, which underscores its commitment to modernizing its fleet. Additionally, GE Aerospace's participation in the deal signals that these agreements extend beyond just the purchase of aircraft and into broadening technological and industrial ties. These strategic deals underscore the UAE's ambitions to enhance its aviation sector and the U.S.'s aim to reinforce economic partnerships in the Middle East. President Trump's Gulf tour has been focused on bolstering relations with key Middle Eastern allies, and this announcement is a testament to the ongoing efforts to strengthen economic and strategic ties in the region.

Vistra Completes Energy Harbor Acquisition, Expands Nuclear Capacity

Vistra Completes Energy Harbor Acquisition, Expands Nuclear Capacity

52 minutes agoVST

Vistra Corp, a leading energy company, has not announced any recent acquisition of natural gas assets for $1.9 billion. The most notable transaction in recent times was their acquisition of Energy Harbor Corp, completed on March 1, 2024. This significant move bolstered Vistra's portfolio by adding around 4,000 megawatts of nuclear generation capacity and bringing in approximately 1 million new retail customers, as reported by PR Newswire. Vistra's current energy generation assets prominently feature natural gas, with several combined-cycle gas turbine (CCGT) plants situated in Texas and the northeastern U.S., according to information from the SEC filings. This underlines the role of natural gas alongside the company's newly acquired nuclear capacity. In the stock market, Vistra Corp's shares are trading at $152.06, experiencing a slight decrease of $2.58, equivalent to -0.02% from the previous close. Trading data indicates a recent open price of $151.00 with a trading volume of 3,902,604 shares. The share price fluctuated between an intraday high of $154.40 and a low of $150.20, as per the latest figures.