Dick’s Sporting Goods is buying Foot Locker in a $2.5 billion transaction aimed at creating a “global leader in the sports retail industry,” but experts say the deal underscores just how far Foot Locker has fallen.
Telsey Advisory Group analyst Cristina Fernández tells FOS that Foot Locker’s struggles are nothing new. “Foot Locker has been in a turnaround for many years,” she says. “Even pre-pandemic there was concern of it being too dependent on Nike.”
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