Athletic Retail
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Hibbett Joins Uber Eats for On-Demand Streetwear and Sneaker Delivery
Prnewswire· 2025-10-23 12:00
Core Insights - Uber Technologies, Inc. has partnered with Hibbett, Inc. to offer athletic-inspired fashion, footwear, and accessories through the Uber Eats platform, enhancing convenience for consumers across the U.S. [1][5] - The partnership allows customers to shop from nearly 900 Hibbett locations, providing access to a wide range of products including sneakers and performance wear [1][3] Company Overview - Hibbett, Inc. is a leading athletic-inspired fashion retailer with over 1,000 specialty stores in 36 states, celebrating its 80th anniversary in 2025 [7] - The company is known for its personalized customer service and commitment to providing access to premium products in underserved communities [7] Partnership Details - The collaboration aims to combine the speed of Uber Eats with Hibbett's trusted shopping experience, allowing for faster delivery and greater access to products [4][6] - Uber Eats is expanding its retail offerings beyond food, positioning itself as a one-stop destination for lifestyle and sports products [5] Consumer Experience - Customers can easily shop Hibbett products through the Uber Eats app by selecting their local store, browsing items, and placing orders for delivery [8] - Uber One members receive additional benefits, including $0 delivery fees on eligible orders [2]
Retail ETFs Set to Gain on Dick's $2.4B Foot Locker Buyout
ZACKS· 2025-05-19 17:31
Acquisition Overview - Dick's Sporting Goods is acquiring Foot Locker for $2.4 billion, funded through existing cash and newly raised debt [1] - Foot Locker shareholders will receive either $24 per share in cash or 0.1168 shares of Dick's stock per Foot Locker share [2] Strategic Implications - The acquisition positions the combined company as a dominant player in the global athletic retail market, enhancing access to the lucrative Nike wholesale market [3] - Dick's will gain access to Foot Locker's global footprint of 2,400 stores across 20 countries, diversifying its customer base to include a younger, urban demographic [3] Financial Projections - The transaction is expected to close in the second half of 2025, pending shareholder approval, and is projected to be accretive to earnings in the first full fiscal year post-close [4] - Estimated annual cost synergies from the acquisition are projected to be between $100 million and $125 million [4] Market Context - Foot Locker has experienced a 40% decline in stock price year-to-date, influenced by tariffs and competitive pressures from Nike's pricing strategies [5][6] - The acquisition represents Dick's largest acquisition to date, reflecting a strategic move to counteract the challenges faced by Foot Locker [6] ETF Impact - The acquisition could benefit retail ETFs such as SPDR S&P Retail ETF, VanEck Vectors Retail ETF, Amplify Online Retail ETF, and ProShares Online Retail ETF, as it may enhance the overall performance of the retail sector [1]