Pittsburgh — DICK’S Sporting Goods, Inc., a leading U.S.-based full-line omnichannel sporting goods retailer, has completed its planned acquisition of Foot Locker, Inc., a leading footwear and apparel retailer. As a combined company, DICK’S will now operate more than 3,200 stores plus e-commerce and digital businesses across 20 countries in North America, Europe, Asia and Australia, plus a licensed store presence in Europe, the Middle East and Asia.
DICK’S will continue to operate Foot Locker’s portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, under an experienced new leadership team. DICK’S executive chairman, Ed Stack, will lead the global Foot Locker businesses, in partnership with two new presidents, one for North America and one for International, to enable acceleration of business momentum and targeted turnaround strategies. Ann Freeman, a longtime former Nike executive, has been appointed president of Foot Locker North America. DICK’S will appoint a president of Foot Locker International to lead other regions.
In North America, Freeman will be supported by a Foot Locker management team of experienced senior leaders, who include:
• Tony Aversa is senior vice president and general manager, Foot Locker and Kids Foot Locker North America. Aversa is a 30-year veteran of Foot Locker having served in leadership roles at Foot Locker, Kids Foot Locker, WSS and most recently as general manager of Champs Sports.
• Denise Karkos is senior vice president and general manager, Champs Sports. Karkos is joining Foot Locker from DICK’S where she most recently served as senior vice president, chief e-commerce officer.
• George Jenkins is senior vice president, store operations and customer experience, Foot Locker North America. Over the past 30 years, Jenkins has held various leadership roles within the Foot Locker stores organization and most recently served as vice president, customer experience, North America.
• Peter Scaturro is senior vice president, chief financial officer, Foot Locker North America. Scaturro most recently served as senior vice president, strategic planning & growth for Foot Locker and has held several leadership roles across corporate finance, strategy and customer service at the company.
• Steve Miller is senior vice president, chief operating officer, Foot Locker North America. Miller is a former DICK’S senior executive who led hardlines merchandising and before that strategy, e-commerce & analytics.
• Brett O’Brien is senior vice president, chief marketing officer, Foot Locker North America. O’Brien is joining Foot Locker from PepsiCo where he held various marketing leadership roles, including his most recent position as chief sports officer.
• Michael Keinath is senior vice president, chief people officer, Foot Locker North America. Keinath is joining Foot Locker from DICK’S where he held various leadership roles overseeing talent, organizational design and effectiveness and culture initiatives.
“We are very enthusiastic about the future of Foot Locker,” says Ed Stack, executive chairman of DICK’S. “The world-class team we have assembled is committed to returning Foot Locker to its rightful place in our industry. We are committed to investing in and growing Foot Locker through its strong culture, led by the Stripers, and creating a more powerful experience for consumers.”
“We are excited to officially welcome the Foot Locker team,” adds Lauren Hobart, president and CEO of DICK’S. “Bringing together the strengths of both companies will help us return Foot Locker to growth while continuing to fuel DICK’S momentum. As a combined company, DICK’S and Foot Locker will create a global platform that will redefine the sports retail industry and unlock value for both companies, our brand partners, our teammates, our communities and our shareholders.”
“I am thrilled to join and lead Foot Locker North America at such a transformative moment,” says Freeman. “Together, we have an extraordinary opportunity to build on Foot Locker’s rich heritage and deliver innovative experiences to a variety of footwear consumers — from athletes to sneaker enthusiasts and everyone in between.”
Goldman Sachs is serving as financial advisor to DICK’S for this transaction, and Wachtell, Lipton, Rosen & Katz is serving as DICK’S legal advisor.
Founded in 1948 and headquartered in Pittsburgh, DICK’S is a leading omnichannel retailer and an iconic brand in sport and culture. Its banners include DICK’S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! in addition to the experiential retail concepts DICK’S House of Sport and Golf Galaxy Performance Center. As owner and operator of Foot Locker, including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, DICK’S serves the global sneaker community across 20 countries in North America, Europe, Asia and Australia, plus a licensed store presence in Europe, the Middle East and Asia. DICK’S also owns and operates GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping. For more information, visit www.dicks.com.
SOURCE: DICK’S Sporting Goods, Inc.