Dick’s Sporting Goods To Buy Foot Locker For $2.4B

Retail
Written By Rick Watson

Dick's Sporting Goods is a major retailer of sporting goods and outdoor equipment in the United States.

Foot Locker Inc. is a multinational retailer specializing in athletic footwear, apparel, and accessories. Headquartered in New York City, it operates a global network of stores and an online platform, offering a diverse selection of brands and products.

Dick's Sporting Goods has announced that it will acquire Foot Locker for $24 per share, with an equity value of approximately $2.3 billion. The transaction will be financed through cash on hand and new debt. Dick's Sporting Goods will gain 2,400 retail stores across 20 countries and will operate Foot Locker as a standalone business unit, maintaining the Foot Locker brand. The combined company will have leverage to negotiate with apparel and shoe brands, but could this be Dick's Sporting Goods' CEO's first mistake?

WSJ: Dick’s Sporting Goods to Buy Foot Locker for $2.4 Billion

Rick Watson

Rick Watson founded RMW Commerce Consulting after spending 20+ years as a technology entrepreneur and operator exclusively in the eCommerce industry with companies like ChannelAdvisor, BarnesandNoble.com, Merchantry, and Pitney Bowes.

Watson’s work today is centered on supporting investors and management teams incubating and growing direct-to-consumer businesses. Most recently, in partnership with WHP Global, Rick was a critical resource in architecting the WHP+ platform, a new turnkey direct to consumer digital e-commerce platform that powers AnneKlein.com and JosephAbboud.com.

Watson also hosts a weekly podcast, Watson Weekly, where he shares an unbiased, unfiltered expert take on the retail sector’s biggest players.

In the past year alone, Rick has spoken at many in-person and virtual events as well as podcasts on topics ranging from retail/ecom to supply chain/logistics and even digital grocery including CommerceNext IRL, ASCM Connect, and Retail Innovation Conference.

https://www.rmwcommerce.com/
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