Dick’s Sporting Goods just announced it’s buying Foot Locker for $2.4 billion in a move that could be the CEO’s first major mistake

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Dick’s Sporting Goods just announced it’s buying Foot Locker for $2.4 billion in a move that could be the CEO’s first major mistake - Fortune

Quick Summary:

Dick's has been successful in making its stores popular destinations, with the expansion of its House of Sports locations that offer experiences like batting cages and outdoor playing fields.

In theory, the deal allows Dick's, a top performing company with recently slowing growth, to expand into new markets, go deeper into the sneaker boom, and increase its market share.

Under Dillon, Foot Locker has been renovating a large portion of its store fleet, updated its rewards program and sought to get its relationship with Nike back on track.