Dick’s Sporting Goods to Trim Foot Locker Fleet

Dick’s Sporting Goods Inc. (Pittsburgh) says it expects to close an as-yet-undisclosed number of its recently acquired Foot Locker chain. The retailer made that disclosure in its earnings report for its third quarter ended Nov. 1.

“The company has initiated a review of unproductive assets which includes clearing out unproductive inventory, closing underperforming stores, and right-sizing assets that don’t align with our go-forward vision for the Foot Locker business,” the Dick’s release said. “These actions, along with additional merger and integration costs, are expected to result in future pre-tax charges of $500 million to 750 million.”

Despite those challenges, Dick’s Executive Chairman Ed Stack is bullish about the buy.

“We are incredibly excited about our acquisition of Foot Locker, which marks a bold and transformative step that expands our reach and creates a global platform at the intersection of sport and culture. At Foot Locker, we’ve assembled a world-class management team and are taking decisive actions to ‘clean out the garage’ by clearing unproductive inventory, closing underperforming stores and laying the foundation for a fresh start in 2026.”

According to statistics provided by the retailer, Foot Locker had 2589 stores as of Nov. 1.