1036 ET - Dick's Sporting Goods had a key reason to make a deal for Foot Locker. "It gives us the ability to service a portion of the market that we just can't service today with our Dick's Sporting Goods stores," says Executive Chairman Ed Stack says on a 1Q earnings call. "What the Street needs to understand is that, like it or not, we don't make investments or decisions for a quarter or two. We make these decisions and investments for a lifetime. We do know that it's up to us to prove to the Street and to everybody that this was the right decision to make." The sporting-good retailer earlier this month announced it would buy the sneaker and athletic-wear retailer for $2.4 billion. Dick's rises 1.1% to $176.18. (denny.jacob@wsj.com; @pennedbyden)

(END) Dow Jones Newswires

May 28, 2025 10:36 ET (14:36 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.