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Dick’s Sporting Items is ready to shut a variety of underperforming Foot Locker shops because it continues to evaluate its enterprise and place it for sustained progress.
“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,” Dick’s Sporting Items Government Chairman Ed Stack stated in an announcement on Tuesday.
The choice to shut underperforming shops will assist “position the Foot Locker Business for profitable growth,” Stack stated.
Dick’s Sporting Items accomplished its $2.4 billion acquisition of Foot Locker in September 2025.
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Dick’s Sporting Items did not specify what number of Foot Locker shops would shut. (Kevin Carter/Getty Pictures)
Dick’s Sporting Items is within the means of reviewing and eradicating unproductive belongings corresponding to extra stock and underperforming shops. The corporate expects to incur future pre-tax fees of $500 million to $750 million associated to these strikes and the merger- and integration-related prices related to the Foot Locker acquisition.
Dick’s Sporting Items accomplished its $2.4 billion acquisition of Foot Locker in September 2025. (Kevin Carter/Getty Pictures / Getty Pictures)
The corporate did not specify what number of Foot Locker shops would shut. Nevertheless, 9 Dick’s shops have already closed thus far this 12 months. About 11 Foot Locker–owned shops and 4 licensed shops have been closed too.
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The acquisition got here as Foot Locker was attempting to get well after years of declining gross sales. The decline began to occur noticeably in 2023, with points persisting by 2024 and into 2025. The corporate struggled with decrease retailer visitors, an excessive amount of stock and lowered shopper spending.
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The acquisition got here as Foot Locker was attempting to get well after years of declining gross sales. (Brandon Bell/Getty Pictures)
Retailer gross sales have been down a number of quarters in a row and competitors is getting extra fierce, particularly as retailers combat for budget-conscious customers.
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