Dick's sporting goods bought the struggling footwear chain lockers for about $2.4 billion, the second acquisition of a large footwear company as business leaders feel uncertain about President Donald Trump's tariffs.

Dick said Thursday it is expected to run foot lockers as a standalone unit and retain the foot locker brand, which includes children's football lockers, Champs Sports, WSS and Japanese sneaker brand Atmos.

“Sports and sports culture remain incredibly powerful, and with this acquisition we will create a new global platform that enhances store design and omnichannel experience through iconic concepts consumers know and love, serving those evolving needs, and a portfolio that appeals to our diverse customer base,” Dick CEO Lauren Hobart said in a statement.

Both companies are led by women. Hobart became Dick's CEO in 2021, while Mary Dillon has been CEO of Foot Locker since 2022.

Foot Locker announced a turnaround plan in 2023, partly because it helps improve its relationship with big brands. Speaking at the JP Morgan Retail Summary Conference last month, Dillon said Foot Locker is working closely with Nike, especially in categories including basketball, sneaker culture and children.

Earlier this month, Skechers announced that the investment company would be privatized by 3G Capital, with a deal worth more than $9 billion.

The retail industry is increasingly concerned about Trump's trade war with other countries, especially China. Sneaker manufacturers have made significant investments in production in Asia.

Stocks of sports goods and sports shoes companies are under pressure throughout the year. Foot Locker's stock plunged 41% this year. It also faces pressure elsewhere, with major sports companies such as Nike and Adidas changing their sales strategies.

This year, Skechers fell nearly 8%.

According to the American Association of Clothing and Footwear, about 97% of clothes and shoes purchased in the United States are mainly imported from Asia. Using factories overseas can reduce labor costs for U.S. companies, but it is impossible for them and overseas suppliers to absorb price increases due to new tariffs.

New York City-based Foot Locker offers Dick’s huge potential for its huge real estate footprint and will make Pittsburgh’s first foothold overseas.

Foot Locker has approximately 2,400 retail stores in 20 countries in North America, Europe, Asia, Australia and New Zealand. It also has licensed stores in Europe, the Middle East and Asia. The company had global sales of $8 billion last year.

Jefferies analyst Jonathan Matuszewski said about 33% of sufficient sales come from outside the United States. He expects the merged company to produce about 12% of sales internationally in preparation.

The deal also expanded Dick’s customer base, with sneaker collectors anxiously looking forward to new drops falling from foot-panel lockers.

GlobalData managing director Neil Saunders said in an emailed statement that Foot Locker, which accounts for 4.3% of the sporting goods market share, will immediately promote Dick's.

"This will also give Dick a higher level of negotiation ability with the national brand, especially in the sports shoes space," he added.

Foot Locker shareholders have the option to get $24 in cash or 0.1168 shares of Dick common stock.

Dick said enough locker transactions are expected to end in the second half of the year. The transaction still requires approval from Foot Locker shareholders.

Dick's stock fell more than 10% before the market opened, while locker stock soared more than 82%.