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.

The retail landscape is littered with failed mega-mergers, but that's not stopping Dick's Sporting Goods from trying its own hand at a big deal. The company announced on Thursday that it was buying the long-suffering Foot Locker retail chain for $2.

Shares of Foot Locker Inc. rocketed higher after hours on Wednesday after the Wall Street Journal reported that Dick’s Sporting Goods Inc. was close to a deal to buy the struggling sneaker chain.