Dick's Sporting Goods Completes Foot Locker Acquisition
Dick’s Sporting Goods has completed its acquisition of Foot Locker, and the combined entity will now operate more than 3,200 stores and e-commerce platforms across North America, Europe, Asia, and Australia. The company also has a licensed store presence in Europe, the Middle East, and Asia.
Dick’s will continue to operate Foot Locker's portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and Atmos, under an experienced new leadership team. Ed Stack, Dick’s executive chairman, will lead the global Foot Locker businesses in partnership with two new presidents, one for North America and one for International, to accelerate business momentum and targeted turnaround strategies.
Ann Freeman, a longtime former Nike executive, has been appointed president of Foot Locker North America. Dick’s will appoint a president of Foot Locker International to lead the other regions.
"We are excited to officially welcome the Foot Locker team," said Lauren Hobart, president and CEO of Dick’s. "Bringing together the strengths of both companies will help us return Foot Locker to growth while continuing to fuel Dick’s momentum. As a combined company, Dick’s and Foot Locker will create a global platform that will redefine the sports retail industry and unlock value for both companies, our brand partners, our teammates, our communities, and our shareholders."
In North America, Freeman will be supported by Foot Locker’s management team, which includes:
- Tony Aversa, senior vice president and general manager, Foot Locker and Kids Foot Locker North America. Tony is a 30-year veteran of Foot Locker, having served in leadership roles at Foot Locker, Kids Foot Locker, and WSS, and most recently as general manager of Champs Sports.
- Denise Karkos, senior vice president and general manager, Champs Sports. Denise is joining Foot Locker from Dick’s, where she most recently served as senior vice president, chief e-commerce officer.
- George Jenkins, senior vice president, store operations and customer experience, Foot Locker North America. Over the past 30 years, George has held various leadership roles within the Foot Locker stores organization and most recently served as vice president, customer experience, North America.
- Peter Scaturro, senior vice president, chief financial officer, Foot Locker North America. Peter most recently served as senior vice president, strategic planning and growth for Foot Locker and has held several leadership roles across corporate finance, strategy, and customer service at the company.
- Steve Miller, senior vice president, chief operating officer, Foot Locker North America. Steve is a former Dick’s senior executive who led Hardlines Merchandising and, before that, Strategy, E-commerce, and Analytics.
- Brett O'Brien, senior vice president, chief marketing officer, Foot Locker North America. Brett is joining Foot Locker from PepsiCo, where he held various marketing leadership roles, including his most recent position as chief sports officer.
- Michael Keinath, senior vice president, chief people officer, Foot Locker North America. Michael is joining Foot Locker from Dick’s, where he held various leadership roles overseeing talent, organizational design and effectiveness, and culture initiatives.
The transaction is expected to deliver between $100 million and $125 million in cost synergies in the medium term, primarily through procurement and direct sourcing efficiencies.
