Foot Locker Stock Surges Amid Acquisition Talks with Dick’s Sporting Goods
Foot Locker, the well-known athletic footwear retailer, experienced a significant rise in its stock price, climbing over 60% in late trading sessions following reports of potential acquisition discussions with Dick’s Sporting Goods. This news has created notable interest in the market, signaling a shift in the company’s prospects.
Details of the Acquisition Talks
According to The Wall Street Journal, Dick’s Sporting Goods is considering acquiring Foot Locker for approximately $2.3 billion. Should this deal proceed, it might finalize as early as Thursday, with expectations to value Foot Locker at $24 per share. This valuation reflects an impressive 86% increase compared to Foot Locker’s closing price of just under $13 the previous day.
Market Reactions
Despite the positive momentum for Foot Locker, it’s worth noting that its stock has suffered a decline of about 40% throughout the current year. Analysts observe that the proposed per-share price would significantly exceed Wall Street’s average price target, which hovers below $19, based on information from Visible Alpha. Some analysts remain optimistic, setting even higher price targets for the athletic retailer.
Dick’s Sporting Goods Performance
Interestingly, Dick’s Sporting Goods shares have not fared as well lately, experiencing a decline of approximately 8% in 2025 as of the latest market closure, compounded by a slight drop in after-hours trading.
Upcoming Financial Reports
Foot Locker is set to release its quarterly financial results on May 29, while Dick’s is scheduled for a day earlier, May 28. These reports will likely offer further insights into the companies’ financial health and broader market implications.
Conclusion
The proposed acquisition of Foot Locker by Dick’s Sporting Goods comes at a crucial time, suggesting potential recovery for Foot Locker amidst its recent struggles. Investors and market analysts will be keenly observing the developments of this deal and the upcoming financial reports.