Dick’s Sporting Goods Boosts Outlook, Promises to Revive Foot Locker Brand

Dick’s Sporting Goods DKS -3.17%decrease; red down pointing triangle said its namesake banner continues to perform well and that its acquisition of Foot Locker represents a major growth opportunity, despite the brand’s current challenges.

The retailer on Tuesday raised the full-year outlook for its namesake brand and said it will take decisive actions to “clean out the garage” at Foot Locker, including clearing inventory and closing underperforming stores.