DICK’S Sporting Goods, Inc. (“DICK’S Sporting Goods”) (NYSE: DKS) and Foot Locker, Inc. (“Foot Locker”) (NYSE: FL) announced the preliminary results of the elections made by Foot Locker shareholders of record regarding the form of consideration they wish to receive in exchange for their shares of Foot Locker common stock in connection with the previously announced acquisition of Foot Locker by DICK’S Sporting Goods (the “Merger”). As previously disclosed, the deadline to have made such an election was 5:00 p.m., Eastern Time on August 29, 2025 (the “Election Deadline”).

As further described in the election materials and in the parties’ proxy statement/prospectus dated July 11, 2025, each Foot Locker shareholder was entitled to elect to receive, for each share of Foot Locker common stock held prior to the closing of the Merger, either (i) $24.00 in cash (the “cash consideration”) or (ii) 0.1168 shares of DICK’S Sporting Goods common stock (the “stock consideration”). Foot Locker shareholders who failed to make a proper election by the Election Deadline will receive cash consideration for their shares of Foot Locker common stock.  Foot Locker shareholders who otherwise would have received a fractional share of DICK’S Sporting Goods common stock upon an election for stock consideration will receive cash in lieu of such fractional share.  The election was not subject to a minimum or maximum amount of cash consideration or stock consideration.

Dick’s Sporting Goods and Foot Locker announced preliminary results of shareholder elections for their merger.
Around 92.6 per cent of Foot Locker shareholders opted for stock consideration (0.1168 Dick’s shares per Foot Locker share), while only 1.2 per cent chose cash consideration of $24 per share.
Shareholders who did not elect will receive cash, and fractional shares will be settled in cash.

Based on available information as of the Election Deadline, the preliminary results of the election were:

• Foot Locker shareholders of record of approximately 92.6% of the outstanding shares of Foot Locker common stock elected to receive the stock consideration (which includes 31.6% of the outstanding shares of Foot Locker common stock that made elections pursuant to guaranteed delivery procedures);
• Foot Locker shareholders of record of approximately 1.2% of the outstanding shares of Foot Locker common stock elected to receive the cash consideration (which includes < 0.1% of the outstanding shares of Foot Locker common stock that made elections pursuant to guaranteed delivery procedures); and
• Foot Locker shareholders of record of approximately 6.2% of the outstanding shares of Foot Locker common stock did not make a valid election or did not deliver a valid election form prior to the Election Deadline, which includes approximately 4.5% of the outstanding shares of Foot Locker common stock owned by DICK’S Sporting Goods. Other than the shares of Foot Locker stock owned by DICK’S Sporting Goods, which will be, at the effective time of the Merger, automatically cancelled for no consideration and cease to exist, each non-electing Foot Locker shareholder will be entitled to receive the cash consideration for such shares.

The foregoing results are preliminary only, and final certified results of the election are not expected to be available until shortly before closing of the Merger. As previously disclosed, the Merger is expected to close on September 8, 2025, subject to the satisfaction of remaining customary closing conditions.

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Fibre2Fashion News Desk (RM)

President Donald Trump has signed an executive order excluding some goods entering the United States from reciprocal tariffs, the White House said.

Trump’s order on revising reciprocal tariffs includes a list of products that he may be willing to apply only to most-favoured nations, the presidential office noted.

President Donald Trump has signed an executive order excluding some goods entering the US from reciprocal tariffs, the White House said.
Trump’s order on revising reciprocal tariffs includes a list of products that he may be willing to apply only to most-favoured nations.
The order identifies over 45 categories for zero import tariffs from ‘aligned partners’ who ‘must conclude’ a deal with the US.

“Today’s Order establishes the ‘Potential Tariff Adjustments for Aligned Partners’ (PTAAP) Annex, which contains the list of products for which the President may be willing to apply only the Most-Favoured-Nation (MFN) tariff upon the conclusion of any future reciprocal trade and security deal,” a factsheet on the order read.

The latest executive order identifies over 45 categories for zero import tariffs from ‘aligned partners’ who “must conclude a deal with the United States that helps mitigate the national emergency relating to the trade deficit” to “earn a reduction of reciprocal tariffs”.

The tariff exemptions kick in as soon as September 8 and apply to trading partners who strike deals on industrial exports like nickel, gold and other metals, as well as pharmaceutical compounds and chemicals, the White House noted.

“President Trump’s tariff policies have generated significant investment into the United States, strengthening the US economy while addressing unfair trade practices that have disadvantaged American workers for decades,” the White House added.

Fibre2Fashion News Desk (DS)

Fear of God is moving its European organization to France. The Los Angeles-based premium street-couture label, founded in 2013 by Jerry Lorenzo and helmed since fall 2024 by Frenchmen Bastien Daguzan, is moving its Milan branch, which includes product development and design teams, to Paris, FashionNetwork.com has learned.

Contacted, the brand clarifies that Fear of God’s head office remains in California, while adding that the European change is “an organizational decision, and that the Paris office is part of the business division” of the brand.

According to our information, Fear of God had an office in the capital of Lombardy with a staff of around twenty, mainly active in design and product development, but also partly in sales. It is in Italy, in fact, that the brand has most of its main products produced, and tailoring is becoming increasingly important, with materials sourced in the Peninsula.

One of the pioneers of luxury streetwear, Jerry Lorenzo has radically evolved his brand in recent years, as it has grown at a rapid pace. Maintaining his minimalist style, he continues to expand his offering, proposing a complete wardrobe for women and men, whether for the most casual or elegant moments, in particular with his main line, while the more accessible and sporty “Essentials” line focuses on jersey and fleece pieces, such as T-shirts, hoodies and tracksuits.

The idea of moving this design- and product-focused Milanese unit away from Fear of God’s network of Italian suppliers and manufacturers may seem surprising. But with the arrival of Daguzan at the helm, the focus has clearly shifted to Paris, where other issues are at stake. Last season, the brand presented its collection in the French capital. The brand also recently recruited Frenchwoman Catherine Jacquet as director of operations.

Having a presence in the City of Light and the fashion capital of the world should help the label, whose headquarters and main activities remain in Los Angeles, to reinforce its aura and image as a luxury brand.