According to the release, Dick’s will acquire its competitor for $2.4 billion, as the retailers navigate choppy demand and global trade uncertainties. Dick’s, which has one location in New Springville, said it expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands.

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.

Foot Locker owns Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores in 20 countries, including North America, Europe, and Asia.