Key Takeaways Nike is expected to benefit from Dick's Sporting Goods acquiring Foot Locker, a deal announced Thursday morning.After the deal, Nike is expected to represent about 30% to 35% of Dick's and Foot Locker's combined sales.

Dick’s, the retail leader in sporting goods, will acquire Foot Locker, the leading specialty footwear retailer, for $2.4 billion. Both depend heavily on sneaker sales.

On the heels of Skechers’ $9 billion go-private deal last week, all eyes are now on Dick’s Sporting Goods Inc.’s $2.4 billion move to buy Foot Locker Inc. — with Nike potentially becoming the big beneficiary.