Senator Warren Urges FTC, DOJ to Block Dick’s $2.4B Foot Locker Merger

Senator Elizabeth Warren has raised significant antitrust concerns regarding Dick's Sporting Goods' proposed $2.4 billion acquisition of Foot Locker, urging the Federal Trade Commission and Department of Justice to block the deal if it violates antitrust laws. Warren argues that the merger would reduce competition by creating a duopoly alongside JD Sports, controlling a large share of the athletic footwear market, which could result in higher prices for consumers already struggling with increased costs due to tariffs. She also warns the deal threatens independent retailers and small businesses by giving Dick's and Foot Locker increased power over suppliers, potentially disadvantaging smaller players. Additionally, Warren highlights the risk of job losses as Foot Locker plans to close some stores post-acquisition, which could have negative effects on local communities. The senator references data showing a significant number of shoe store closures and parental financial strain on back-to-school shopping to underscore the deal's potential harm to families and workers. Warren’s intervention reflects growing scrutiny of retail consolidation under current regulatory leadership to protect consumers and workers.