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Foot Locker expects its acquisition by Dick’s Sporting Goods to complete on 8 September 2025. Credit: Urban Images/Shutterstock.com.
Foot Locker’s total sales were down 2.4%, to $1.85bn in Q2 ending 2 August compared with sales of $1.89bn in Q2 of 2024. While total revenue was $1.86bn compared to $1.90bn in the same period last year.
The retailer had a net loss of $38m in Q2 versus a net loss of $12m in the same prior year period. On a non-GAAP basis the net loss was $27m versus a net loss of $4m for Q2 2024.
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The second quarter loss per share was $0.39 compared to a loss per share of $0.13 in Q2 2024. The non-GAAP loss was $0.27 per share in Q2 versus a loss per share of $0.05 in Q2 2024.
During the second quarter, Foot Locker opened two new stores and closed 11 stores. It also remodelled or relocated 14 stores and refreshed 52 stores to its updated design standards, which incorporate key elements of its current brand design specifications.
As of 2 August 2025, it operated 2,354 stores in 20 countries in North America, Europe, Asia, Australia, and New Zealand. In addition, 243 licensed stores were operating in the Middle East, Europe, and Asia.
CEO Mary Dillon said: “In the second quarter, we built sequential momentum and delivered positive North American comparable sales results led by our Foot Locker, Kids Foot Locker, and Champs Sports banners, including a positive start to the Back-to-School season in July.
“At the same time, our results reflect a challenging operating environment and soft store traffic trends, particularly in our WSS and international businesses. Our team continued to execute our Lace Up Plan, remaining focused on elevating our customers’ experiences by leveraging our strong brand partnerships, enhancing our store base through our Refresh and Reimagined programmes, improving our digital platforms, and deepening global engagement through our FLX Rewards Program.”
Foot Locker highlighted that in May, Dick’s Sporting Goods entered into a definitive merger agreement under which Dick’s will acquire Foot Locker. On 22 August Foot Locker received shareholder approval for the acquisition.
The waiting period expired on 25 August 2025 and all required regulatory approvals to complete the transaction have been received. The company expects the transaction to close on 8 September.
Dillon added: “We are pleased to have recently received shareholder approval for the Company’s acquisition by Dick’s Sporting Goods. All required regulatory approvals have been received, and we look forward to the successful completion of the transaction.”
In June, Foot Locker reported total net sales amounting to $1.79bn in the first quarter of fiscal 2025 (Q1), down 4.6% from $1.87bn in the same quarter of the previous year.
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