Dick’s Sporting Goods Completes $2.4 Billion Foot locker Acquisition, Headquarters Move Remains Unclear
PITTSBURGH, PA – Dick’s Sporting Goods officially closed it’s $2.4 billion acquisition of Foot Locker Monday, installing a new leadership team to oversee the combined operations. The deal unites two retail giants with over 3,200 stores and significant e-commerce presence across 20 countries, alongside licensed stores in Europe, the Middle East, and Asia.
The Pittsburgh retailer announced the completion of the purchase, anticipating $100 million to $125 million in cost synergies through procurement and direct sourcing efficiencies. However, the future of Foot Locker’s planned relocation of its global headquarters to St. Petersburg, Florida, remains unaddressed.
Approximately ten months prior to the May 15 sale announcement, Foot Locker revealed plans to move its headquarters from New york to St. Petersburg as part of a cost-cutting and growth strategy. In March, the company signed a lease for a 110,998-square-foot space at 570 Carillon in the city’s Carillon Business Park, with a planned move-in date of late 2024.
As of Tuesday, neither Dick’s nor Foot Locker responded to inquiries regarding the status of the headquarters move. However, a spokesperson for The Feil Organization, owner of the 570 Carillon building, confirmed via email that Foot Locker is still “planning to move into the building.”
Former Foot Locker CEO Mary Dillon will not be continuing with Dick’s. Dick’s Executive Chairman Ed Stack will lead Foot Locker’s global operations, supported by Ann Freeman, a former Nike executive, as president for North America. A president for the international division will be appointed at a later date.
Foot Locker’s brands include Foot Locker, Kids Foot Locker, and Champs Sports.
