Dick's Sporting Goods plans to close some Foot Locker stores

Group 1 - Dick's Sporting Goods is closing underperforming Foot Locker stores to position the business for profitable growth, with a focus on clearing unproductive inventory and laying a foundation for a fresh start in 2026 [1][2] - The company completed its $2.4 billion acquisition of Foot Locker in September 2025, which was aimed at revitalizing Foot Locker after years of declining sales [2][8] - Future pre-tax charges related to the store closures and integration costs from the acquisition are expected to be between $500 million and $750 million [5] Group 2 - The number of Foot Locker stores to be closed has not been specified, but nine Dick's stores and several Foot Locker stores have already been closed this year [7] - Foot Locker has faced declining sales since 2023, attributed to lower store traffic, excess inventory, and reduced consumer spending [8][11] - The retail environment is becoming increasingly competitive, particularly as companies vie for budget-conscious consumers [11]