Dick’s begin Foot Locker overhaul with store closings and cleanup
Dicks Sporting Goods said it is restructuring the newly acquired Foot Locker business by closing underperforming stores, reducing excess inventory, and realigning assets. The company expects $500-$750 million in future pre-tax charges tied to these actions and ongoing merger costs. Dicks bought Foot Locker in September for $2.4 billion.