Dick’s Sporting Goods to buy struggling shoe chain Foot Locker for $2.4 billion

Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over U.S. President Donald Trump’s tariffs.

Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the Foot Locker brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.

“Sports and sports culture continue to be incredibly powerful...