Dick’s Sporting Goods is reportedly closing in on a deal to buy competitor Foot Locker for about $2.3 billion, according to The Wall Street Journal, which cited people familiar with the matter.
The retailers discussed a deal at $24 per share for Foot Locker, which would be an 86.5% premium to Foot Locker’s last closing price, according to the report.
Foot Locker announced its “Lace Up Plan” in 2024, which included new store formats, moving away from mall stores, revamping its loyalty program and going digital, FOX Business previously reported. 
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The company later launched its Global Technology Services Hub in Dallas to modernize its technology infrastructure.
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Dick’s Sporting Goods and Foot Locker did not immediately respond to inquires from FOX Business.
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FOX Business’ Aislinn Murphy contributed to this report.
