Dick’s Sporting Goods has appointed Ann Freeman as the new North America president for Foot Locker, after completing its $2.4 billion acquisition of the sportswear retailer.
Freeman is a longtime former Nike executive, having held various positions at the brand from 1995 to 2021. She is currently a member of the Allbirds’ board.
In her new role, Freeman will be supported by a Foot Locker North America management team, which includes Tony Aversa – SVP and GM of Foot Locker and Kids Foot Locker, Denise Karkos – SVP and GM of Champs Sports, CFO Peter Scaturro, and COO Steve Miller, among others.
Dick’s will appoint an international president for Foot Locker to lead other regions in the coming time. Mary Dillon, who has been Foot Locker CEO since September 2022, was not mentioned in the announcement.
Dick’s said its executive chairman Ed Stack will lead the global Foot Locker businesses in partnership with the two new presidents.
As of Monday, Dick’s Sporting Goods had completed its $2.4 billion acquisition of Foot Locker and its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and Atmos.
“The world-class team we have assembled is committed to returning Foot Locker to its rightful place in our industry,” said Stack. “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.”
Following the deal, Dick’s now operates more than 3200 stores plus e-commerce and digital businesses across 20 countries in North America, Europe, Asia, and Australia, as well as a licensed store presence in Europe, the Middle East and Asia.
The company expects the transaction to deliver $100 million to $125 million in cost synergies in the medium term.
Dick’s recently reported a 5 per cent increase in both sales and net income for the second quarter. The company also raised its full-year guidance, expecting comparable sales growth of 2-3.5 per cent, up from 1-3 per cent previously.
Meanwhile, Foot Locker’s Q2 sales were down 2.4 per cent, as a modest uplift in North America was more than offset by a steep decline in international markets.
