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Dick’s to Close ‘Underperforming’ Foot Locker Stores After Acquisition
Dick's Sporting Goods will close underperforming Foot Locker stores and clear unproductive inventory after its $2.4 billion acquisition to reposition the brand for growth.
- On Nov. 25, Dick's Sporting Goods said it will address unproductive Foot Locker assets, including closing underperforming stores after its $2.4 billion acquisition earlier this year.
- Dick's Executive Chairman Ed Stack said `We need to clean out the garage`, describing plans to clear unproductive inventory and right-size underperforming Foot Locker stores.
- Leadership changes accompany operational steps such as naming Matthew Barnes president of Foot Locker International effective Dec. 3 and escalating pricing actions in the fourth-quarter.
- Inventory changes are expected to be completed by the end of the year to ready Foot Locker for a fresh start in 2026, leveraging Dick's operational expertise for profitable growth.
- Financially, the company pointed to raised EPS guidance and expected net sales of $13.95 billion to $14.0 billion and reported more than $4 billion in third-quarter net sales.
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23 Articles
23 Articles
Coverage Details
Total News Sources23
Leaning Left5Leaning Right1Center14Last UpdatedBias Distribution70% Center
Bias Distribution
- 70% of the sources are Center
70% Center
L 25%
C 70%
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