If Dick’s Sporting Goods Inc. can turn around Foot Locker Inc. — a feat the footwear chain has struggled with on its own — Nike Inc. stands to emerge as a big winner.

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.

DICK'S Sporting Goods, Inc.'s $2.4B Foot Locker, Inc. acquisition raises concerns over strategy shifts. Click for my look at the deal and its impact on FL and DKS.