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 in the sporting goods retailer sank more than 13% after the deal was announced. By contrast, Foot Locker’s stock jumped more than 82%. On Thursday morning, Pittsburgh-based Dick’s Sporting Goods announced its plans to acquire footwear and apparel retailer Foot Locker.