Foot Locker stock skyrocketed Thursday after Dick’s Sporting Goods said it had agreed to buy the shoe retailer for about $2.4 billion. Dick’s investors are less sanguine about the merger, as they question whether undertaking an ambitious turnaround project will hurt,

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 Sporting Goods is buying the struggling Foot Locker retail chain for about $2.4 billion. The two chains operate a a combined 22 stores in South Carolina