1633 ET - Dick's Sporting Goods' plans to take over Foot Locker is a major endorsement of Nike's turnaround efforts, Baird analysts said in a research note. Dick's management cited unique visibility into Nike's upcoming pipeline and the brand's potential to drive higher full-price sell-throughs and margins, given its commitment to wholesale partners like Foot Locker. That commentary -- and with Nike supplying over a third of the combined company's purchases, a share that's expected to grow -- makes the deal appear like a levered bet on the brand's turnaround plan, the analysts said. (kelly.cloonan@wsj.com)
(END) Dow Jones Newswires
May 16, 2025 16:33 ET (20:33 GMT)
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