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Ed Stack

Business
Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger
Dick's Closes $2.5B Foot Locker Deal In Major Sporting Goods Merger Dick's Sporting Goods has finalized its purchase of Foot Locker, creating a global sports retail giant with more than 3,200 stores in 20 countries. The Pittsburgh-based chain completed the $2.5 billion deal to acquire the sneaker chain on Monday, Sept. 8. Dick's will keep Foot Locker's brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. The combined company will now operate across North America, Europe, Asia, and Australia, with licensed stores in Europe, the Middle East, and Asia. "We are very enthusiastic about the future of Foot Locker," said Dick's…

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by Chris Spiker
Business
Dick's Sporting Goods Buying Foot Locker In $2.5B Deal: Here's Why Dick's Sporting Goods Buying Foot Locker In $2.5B Deal: Here's Why
Dick's Sporting Goods Buying Foot Locker In $2.5B Deal: Here's Why Dick's Sporting Goods is buying Foot Locker in a $2.5 billion deal, as the major sports brands try to cash in on Nike partnerships and sneaker culture. Dick's and Foot Locker announced the acquisition in a joint news release on Thursday, May 15. The deal will allow the Western Pennsylvania-based Dick's to have its first international presence, since the athletics apparel chain only has stores in the US. Foot Locker runs 2,400 stores in 20 countries, including brands like Champs Sports and atmos. "We believe there is meaningful opportunity for growth ahead," said Dick's executive chair…

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by Chris Spiker
Business
Dick's Will Stop Selling Assault Rifles, Require Gun Buyers Be 21 Dick's Will Stop Selling Assault Rifles, Require Gun Buyers Be 21
Dick's Will Stop Selling Assault Rifles, Require Gun Buyers Be 21 Dick's Sporting Goods is putting in place strong steps to curtail the sale of firearms in its 700-plus stores, including many in the tristate area. Dick’s, one of the nation’s largest sports retailers, announced Wednesday morning it is ending sales of assault-style rifles and banning the sale of guns to people younger than 21. The move was a direct response to the latest school shooting, which occurred Feb. 14 in Parkland, Florida, claiming the lives of 17 people, including 14 students. "Based on what’s happened and looking at those kids and those parents, it moved us all unimaginably…

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by Joe Lombardi