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Foot Locker Stock Skyrockets 70% on Report of Buyout by Dick's Sporting Goods

Foot Locker stock surged in late trading Wednesday following a report that said the company was nearing a deal to be acquired by Dick's Sporting Goods for $2.3 billion.Dick's is considering paying $24

Foot Locker Stock Skyrockets 70% on Report of Buyout by Dick's Sporting Goods

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{"i18n":{"language":"en_US"},"data":{"magic":2,"id":435189652967896,"tweetId":"435189652967896","gmtCreate":1747265951000,"gmtModify":1747265954766,"author":{"id":4189408099690202,"idStr":"4189408099690202","authorId":4189408099690202,"authorIdStr":"4189408099690202","name":"Dirty _D","avatar":"https://community-static.tradeup.com/news/a38f301670675b43fc5bf97fec644031","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Share your opinion about this news…</p></body></html>","htmlText":"<html><head></head><body><p>Share your opinion about this news…</p></body></html>","text":"Share your opinion about this news…","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/435189652967896","repostId":2535899808,"repostType":2,"repost":{"id":"2535899808","kind":"highlight","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1747265428,"share":"https://ttm.financial/m/news/2535899808?lang=en_US&edition=fundamental","pubTime":"2025-05-15 07:30","market":"hk","language":"en","title":"Foot Locker Stock Skyrockets 70% on Report of Buyout by Dick's Sporting Goods","url":"https://stock-news.laohu8.com/highlight/detail?id=2535899808","media":"Dow Jones","summary":"Foot Locker stock surged in late trading Wednesday following a report that said the company was nearing a deal to be acquired by Dick's Sporting Goods for $2.3 billion.Dick's is considering paying $24","content":"<html><head></head><body><p>Foot Locker stock surged in late trading Wednesday following a report that said the company was nearing a deal to be acquired by Dick&#39;s Sporting Goods for $2.3 billion.</p><p>Dick&#39;s is considering paying $24 per share for Foot Locker, The Wall Street Journal reported Wednesday, citing people familiar with the matter. That price represents a nearly 90% premium to Foot Locker&#39;s Wednesday closing price of $12.87.</p><p>Shares of Foot Locker were up 69% to $21.73 in after-hour trading. Dick&#39;s stock was down 5% to $198.49.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/228e20119e55b962c604186027516f83\" tg-width=\"804\" tg-height=\"844\"/></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/92ab7fdbacc11c5faf373f53e8dd7de4\" tg-width=\"807\" tg-height=\"838\"/></p><p>Representatives for Foot Locker and Dick&#39;s didn&#39;t immediately respond to Barron&#39;s request for comment.</p><p>The deal could be finalized as soon as Thursday, barring any last minute delays, according to the Journal.</p><p>While the 90% valuation premium seems like a lofty price to pay, it doesn&#39;t necessarily feel excessive, said Lorne Bycoff, co-founder &amp; CEO of the Bycoff Group, a private investment firm that has long been bullish on Dick&#39;s stock.</p><p>Foot Locker shares have been especially hard-hit by the potential tariffs on China and other Asian countries, which are the main manufacturers of sneakers and other footwear. The stock traded steadily above $20 for most of 2024, Bycoff pointed out, which may be a better reflection of the underlying value of the business.</p><p>In his view, Dick&#39;s could be &#34;taking advantage of a market opportunity&#34; to get a beaten-down company that helps its long-term expansion goals at a reasonable price.</p><p>One of Dick&#39;s key growth strategies has been growing its footwear business.</p><p>&#34;Footwear has become a very, very important business to us,&#34; said Dick&#39;s CEO Lauren Hobart at the company&#39;s March earnings call.</p><p>Acquiring Foot Locker, one of the largest sneaker retailers in the U.S., could help Dick&#39;s consolidate market share in the footwear space and grow its store footprint, giving the company an edge to compete at a bigger scale, Bycoff added.</p><p>From a strategic standpoint, cost synergies could help recover some of Foot Locker&#39;s margins, and the combined company would have more scale to negotiate with vendors and landlords, wrote Needham analyst Tom Nikic, adding that that the deal, while surprising, &#34;makes a great deal of financial sense for both parties.&#34;</p><p>Earlier this month, sneaker-maker Skechers USA agreed to sell itself to investment firm 3G Capital. The deal, valued between $9 billion and $10 billion, also commanded a hefty premium of about 30% to Skechers 15-day volume-weighed average stock price ahead of the deal&#39;s announcement.</p><p>Write to Sabrina Escobar at sabrina.escobar@barrons.com</p><p>This content was created by Barron&#39;s, which is operated by Dow Jones &amp; Co. Barron&#39;s is published independently from Dow Jones Newswires and The Wall Street Journal.</p><p>(END) Dow Jones Newswires</p><p>May 14, 2025 18:33 ET (22:33 GMT)</p><p>Copyright (c) 2025 Dow Jones &amp; Company, Inc.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foot Locker Stock Skyrockets 70% on Report of Buyout by Dick's Sporting Goods</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFoot Locker Stock Skyrockets 70% on Report of Buyout by Dick's Sporting Goods\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-05-15 07:30</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Foot Locker stock surged in late trading Wednesday following a report that said the company was nearing a deal to be acquired by Dick&#39;s Sporting Goods for $2.3 billion.</p><p>Dick&#39;s is considering paying $24 per share for Foot Locker, The Wall Street Journal reported Wednesday, citing people familiar with the matter. That price represents a nearly 90% premium to Foot Locker&#39;s Wednesday closing price of $12.87.</p><p>Shares of Foot Locker were up 69% to $21.73 in after-hour trading. Dick&#39;s stock was down 5% to $198.49.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/228e20119e55b962c604186027516f83\" tg-width=\"804\" tg-height=\"844\"/></p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/92ab7fdbacc11c5faf373f53e8dd7de4\" tg-width=\"807\" tg-height=\"838\"/></p><p>Representatives for Foot Locker and Dick&#39;s didn&#39;t immediately respond to Barron&#39;s request for comment.</p><p>The deal could be finalized as soon as Thursday, barring any last minute delays, according to the Journal.</p><p>While the 90% valuation premium seems like a lofty price to pay, it doesn&#39;t necessarily feel excessive, said Lorne Bycoff, co-founder &amp; CEO of the Bycoff Group, a private investment firm that has long been bullish on Dick&#39;s stock.</p><p>Foot Locker shares have been especially hard-hit by the potential tariffs on China and other Asian countries, which are the main manufacturers of sneakers and other footwear. The stock traded steadily above $20 for most of 2024, Bycoff pointed out, which may be a better reflection of the underlying value of the business.</p><p>In his view, Dick&#39;s could be &#34;taking advantage of a market opportunity&#34; to get a beaten-down company that helps its long-term expansion goals at a reasonable price.</p><p>One of Dick&#39;s key growth strategies has been growing its footwear business.</p><p>&#34;Footwear has become a very, very important business to us,&#34; said Dick&#39;s CEO Lauren Hobart at the company&#39;s March earnings call.</p><p>Acquiring Foot Locker, one of the largest sneaker retailers in the U.S., could help Dick&#39;s consolidate market share in the footwear space and grow its store footprint, giving the company an edge to compete at a bigger scale, Bycoff added.</p><p>From a strategic standpoint, cost synergies could help recover some of Foot Locker&#39;s margins, and the combined company would have more scale to negotiate with vendors and landlords, wrote Needham analyst Tom Nikic, adding that that the deal, while surprising, &#34;makes a great deal of financial sense for both parties.&#34;</p><p>Earlier this month, sneaker-maker Skechers USA agreed to sell itself to investment firm 3G Capital. The deal, valued between $9 billion and $10 billion, also commanded a hefty premium of about 30% to Skechers 15-day volume-weighed average stock price ahead of the deal&#39;s announcement.</p><p>Write to Sabrina Escobar at sabrina.escobar@barrons.com</p><p>This content was created by Barron&#39;s, which is operated by Dow Jones &amp; Co. Barron&#39;s is published independently from Dow Jones Newswires and The Wall Street Journal.</p><p>(END) Dow Jones Newswires</p><p>May 14, 2025 18:33 ET (22:33 GMT)</p><p>Copyright (c) 2025 Dow Jones &amp; Company, Inc.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","BK4094":"服装零售","BK4200":"专卖店","DKS":"迪克体育用品","BK4588":"碎股","BK4585":"ETF&股票定投概念","LU1064131342.USD":"Fullerton Lux Funds - Global Absolute Alpha A Acc USD"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2535899808","content_text":"Foot Locker stock surged in late trading Wednesday following a report that said the company was nearing a deal to be acquired by Dick's Sporting Goods for $2.3 billion.Dick's is considering paying $24 per share for Foot Locker, The Wall Street Journal reported Wednesday, citing people familiar with the matter. That price represents a nearly 90% premium to Foot Locker's Wednesday closing price of $12.87.Shares of Foot Locker were up 69% to $21.73 in after-hour trading. Dick's stock was down 5% to $198.49.Representatives for Foot Locker and Dick's didn't immediately respond to Barron's request for comment.The deal could be finalized as soon as Thursday, barring any last minute delays, according to the Journal.While the 90% valuation premium seems like a lofty price to pay, it doesn't necessarily feel excessive, said Lorne Bycoff, co-founder & CEO of the Bycoff Group, a private investment firm that has long been bullish on Dick's stock.Foot Locker shares have been especially hard-hit by the potential tariffs on China and other Asian countries, which are the main manufacturers of sneakers and other footwear. The stock traded steadily above $20 for most of 2024, Bycoff pointed out, which may be a better reflection of the underlying value of the business.In his view, Dick's could be \"taking advantage of a market opportunity\" to get a beaten-down company that helps its long-term expansion goals at a reasonable price.One of Dick's key growth strategies has been growing its footwear business.\"Footwear has become a very, very important business to us,\" said Dick's CEO Lauren Hobart at the company's March earnings call.Acquiring Foot Locker, one of the largest sneaker retailers in the U.S., could help Dick's consolidate market share in the footwear space and grow its store footprint, giving the company an edge to compete at a bigger scale, Bycoff added.From a strategic standpoint, cost synergies could help recover some of Foot Locker's margins, and the combined company would have more scale to negotiate with vendors and landlords, wrote Needham analyst Tom Nikic, adding that that the deal, while surprising, \"makes a great deal of financial sense for both parties.\"Earlier this month, sneaker-maker Skechers USA agreed to sell itself to investment firm 3G Capital. The deal, valued between $9 billion and $10 billion, also commanded a hefty premium of about 30% to Skechers 15-day volume-weighed average stock price ahead of the deal's announcement.Write to Sabrina Escobar at sabrina.escobar@barrons.comThis content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.(END) Dow Jones NewswiresMay 14, 2025 18:33 ET (22:33 GMT)Copyright (c) 2025 Dow Jones & Company, Inc.","news_type":1,"symbols_score_info":{"DKS":1,"FL":1}},"isVote":1,"tweetType":1,"viewCount":778,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}