(KNUE-FM) We keep hearing that the great migration to Texas is coming to a close. But we’re not so sure about that when we hear about big U.S. companies moving their headquarters to Texas.

Particularly when European tech companies move to the Lone Star State.

European Tech Finds a New Home in Texas

Are you familiar with the growing tech company, AppSignal?

If not, you’re not alone.

AppSignal is a growing tech company that has built a strong reputation for helping software teams accomplish their clients’ goals. Founded in 2013 in Amsterdam, AppSignal creates tools for developers to keep apps and websites running properly.

According to My San Antonio, it has now raised $22 million to expand its enterprise.

And with that money? They’re moving to Texas. Austin, specifically.

Why Texas Made Sense

Well, you can likely guess why.

AppSignal was looking for a blend of ingredients to help make the move successful.

It makes sense. The company has been eyeing an expansion into the U.S., and Texas is an excellent place from which to operate and will cost less than moving to somewhere like California or New York.

READ MORE: Escape To These Beautiful Resorts Not Far from East Texas

After all, Texas is known for a friendly business environment, and there’s a ton of great talent here since the tech community has grown so much.

Big Investment to Fuel Growth

AppSignal has raised $22 million from investors, which they say will be used to bring its service to the U.S., continue innovating new tools, and hire the right people for the job.

Another priority for the company is to grow quickly without overcomplicating things for their clients, mostly smaller or mid-sized companies that may not have the money to pay enormous amounts for tools they can depend on.

New Leadership to Guide U.S. Plans

As they prepare to launch this next chapter in Texas, they’ve got a new CEO on board. Bradon Swalve will lead the charge and work to build a great Texas team.

My San Antonio reports:

“Texas gives us a great starting point to grow across the U.S.There’s a strong tech community here and room to build something meaningful.” ~Brandon Swalve, CEO

It’s a brave move for an Amsterdam-based tech company to make. We wish them the very best.

Also, that great migration to Texas, which is becoming a more significant tech player in the world every day,  might not be over after all.

Exceptional industry players took centre stage, highlighting their incredible advancements in broadcasting.

As the broadcasting industry grapples with rapid digital transformation, shifting audience habits, and the relentless rise of streaming platforms, leading companies across the Asia-Pacific region are stepping up with bold innovations and adaptive strategies.

The Asia-Pacific Broadcasting+ Awards 2025 puts a spotlight on these trailblazers — exceptional industry players who are not only navigating the evolving media landscape but also redefining what’s possible in modern broadcasting.

This year’s awards programme, held on 28 May 2025 at the Crowne Plaza Changi Airport, recognised outstanding broadcasting initiatives across the Asia-Pacific region. It marked a celebration of incredible advancements in the broadcasting landscape, recognising those who create compelling experiences for audiences across platforms.

The distinguished panel of judges for the Asia-Pacific Broadcasting+ Awards 2025 consisted of Wilson Chow, Global Technology, Media and Telecommunications Industry Leader and China Artificial Intelligence Leader, PwC China; Jason Yau, Partner and Head of Technology, RSM; Kiran Karunakaran, Partner, Singapore, Bain & Company Singapore; and Sarovar Agarwal, Senior Partner, Asia Pacific Leader – Communications Media and Technology (CMT) Practice, Kearney Australia.

See the full list of winning companies below:

ABP, powered by WASP3D
Virtual Production – India

ABS-CBN Global – TFC
IP Transformation – Philippines

Media Prima Berhad, powered by Ace Identity Sdn. Bhd.
News Room Computer System – Malaysia

Ada Derana 24
Technology Animation – Sri Lanka

Al Jazeera Media Network
Technology – Qatar

I-Sport Company Limited, powered by Appear
Sports Broadcasting – Thailand

Asharq News
Online Election Campaign – United Arab Emirates
Technology Animation – United Arab Emirates

ASTRO
Cloud-Playout Migration – Malaysia

Astro Studios Sdn Bhd
Audio Description – Malaysia

Audio+
Series Production – Malaysia

Awaan
OTT Platform – United Arab Emirates

Sanlih Entertainment Television (SET TV), powered by Beyond Space Technology
Virtual Production (Streaming) – Taiwan

Taiwan Television Enterprise, Ltd., powered by Beyond Space Technology
Virtual Production (Terrestrial Broadcasting) – Taiwan

BFM MEDIA
Multi-Platform Campaign – Malaysia

CJ ENM
Main Channel on Cable and Satellite Platforms – South Korea
Series Production – South Korea

DAZN and HOY TV, powered by Caton Technology Asia Pte Ltd
IP Broadcast Solutions – Singapore

Dubai Media
Virtual Production – United Arab Emirates

DZME 1530 RADYO TV
Radio and TV Cross Platform Production – Philippines

eTunes
Audio Streaming & Monitoring System – Sri Lanka

Fijian Broadcasting Corporation
OTT Platform – Fiji

Galaxy Play
Series Production (Streaming) – Vietnam
Viewing Experience – Vietnam

GMA Integrated News, GMA Network, Inc.
Multi-Platform Campaign (Terrestrial Broadcasting) – Philippines

Hanoi Radio & Television
Live Event Streaming – Vietnam
Series Production (Terrestrial Broadcasting) – Vietnam
Virtual Production – Vietnam

i-CABLE News Limited
Production Technology – Hong Kong

Singapore Polytechnic, powered by Ideal Systems (S) Pte Ltd
Live Event Streaming – Singapore

Culver Max Entertainment, powered by Ideal Systems Group
Multi-Channel Playout System – India

IKIMfm Radio
Radio Podcast – Malaysia

Kiloview
Live Event Streaming – China

KRISTAL Media
Hybrid Broadcast Truck – Brunei
Hybrid Events – Brunei

Layercake
Live Event Streaming – Australia

LES’ COPAQUE PRODUCTION SDN BHD
Animation Story Telling – Malaysia

Media Prima Audio
Radio Studios – Malaysia

Mediacorp
Audio Streaming & Monitoring System – Singapore
OTT Platform – Singapore

Mediacorp Pte Ltd
Series Production – Singapore

Movie Television Review and Classification Board
Channel Rating & Audience Behaviour Analysis – Philippines

MQuest Ventures, Inc.
Multi-Platform Campaign (Cable & Satellite Broadcasting) – Philippines

Munhwa Broadcasting
Sports Broadcasting – South Korea
Virtual Production – South Korea

Console Connect, powered by Net Insight
Internet Delivery Network – Hong Kong

Noor Dubai Radio
Radio and TV Cross Platform Production – United Arab Emirates

Nuon Digital Indonesia
Hybrid Events – Indonesia
Multi-Platform Campaign – Indonesia

PBS-BBS / RADYO PILIPINAS-RADYO PUBLIKO
Government Streaming – Philippines

Portico Media杰德影音
OTT Platform – Taiwan

Cignal TV, powered by Quickplay
Technology – Philippines

Rico Hizon / ABS-CBN News Channel
Current Affairs – Philippines

Fijian Broadcasting Corporation (FBC), powered by Ross Video and Gencom Technology
Sports Broadcasting – Fiji

Singtel, powered by Magna Systems
IP Transformation – Singapore

SOMOY TV
Digital Transformation – Bangladesh

TV Sarawak, powered by SpaceLabs Technology
Sports Broadcasting – Malaysia

Spacetoon
Animation Story Telling – United Arab Emirates
Multi-Platform Campaign – United Arab Emirates

Tata Play Limited
Digital Transformation – India

RTM, powered by Tekmark Broadcast Sdn Bhd
Broadcast Infrastructure – Malaysia

Telstra Broadcast Services
Internet Delivery Network – Australia

Tencent
Internet Delivery Network – China

TESSERACT
IP Transformation – Indonesia

The Hong Kong Jockey Club
Sports Broadcasting – Hong Kong
Virtual Production – Hong Kong

TV TOKYO
Virtual Production – Japan

TVR PARLEMEN
Government Streaming – Indonesia

TVS
Government Streaming – Malaysia
Live Event Streaming – Malaysia

Viddsee
Multi-Platform Campaign – Singapore

Viu Singapore
Hybrid Events – Singapore

WB RESOURCES SDN BHD
Digital Transformation – Malaysia

WeTV Indonesia, powered by Unlimited Production
Series Production – Indonesia

Wish 107.5
Multi-Platform Campaign (Radio Broadcasting) – Philippines

The Asia-Pacific Broadcasting+ Awards 2025 is presented by Asia-Pacific Broadcasting+. For more information, please contact Jane Patiag at +65 3158 1386 ext 217 or [email protected].

The Home Run

When every ad impression is carefully bid on and monetized, it’s hard for advertisers to score outsized wins.

Mailchimp probably wouldn’t have been able to sponsor the entire Serial podcast, which became a smash hit, if it had been possible to buy podcast ads programmatically back then.

The exception is sports.

There are always brands willing to place a bet on unusual sporting events in the hope that they have a breakout moment, like Timbersports, for example. Or remember when finance brand Ramp sponsored a motley crew of non-top players at the Masters last year, one of whom hit a hole in one and another who luckily paired with Tiger Woods on the tournament’s biggest day?

Which brings us to a piece in Marketing Brew about Tata Consultancy Services, a B2B tech services provider that now sponsors five of the seven top marathon races, plus more in the next tier.

B2B consulting is not “a sector that you get emotional or excited about,” says Tata’s Global CMO Abhinav Kumar. But marathoners appreciate their sponsor, and many of Tata’s clients and employees are runners.

The company’s analytics shows that its brand consideration among nonrunners is 27%, while 67% of B2B account targets who run races place Tata in their consideration set.

A Perplexing Situation

When generative AI search engine Perplexity launched its ad business six months ago, it was a first mover and shaker in the category. But the sheen wears off quickly. 

For one, Google is also now pushing ads into generative AI searches. And while advertisers might be intrigued by Perplexity’s offerings, including its merchant program for shopping recommendations, there are already concerns about efficiency and reach.

Perplexity gets points, however, for being “the first AI platform to make a splash with advertising” and for continuing to “lead the way in integrating commerce into the AI search process,” Debra Aho Williamson, founder and chief analyst at Sonata Insights, tells Digiday.

But its 22 million active users are no match for ChatGPT’s 400 million – or Google’s billions of AI Overviews in traditional search feeds.

That said, there is interest in being an early adopter of Perplexity among clients, says Robert Kurtz, strategic business outcomes partner at Basis Technologies. The problem is they’re not committing budgets yet because of Perplexity’s “low scale and because of its focus on awareness compared to other options,” he said.

The Name Game

GroupM has officially rebranded to WPP Media.

In an interview with Ad Age, WPP CEO Mark Read and WPP Media CEO Brian Lesser pitched the move as a way to make it clear the holdco is bringing its various agency groups under the purview of one new entity.

WPP Media will manage WPP’s $60 billion media-buying portfolio across 80 markets. WPP agencies including Mindshare, Wavemaker and EssenceMediacom will no longer operate independently, but as teams under the WPP Media umbrella.

Alongside the rebrand, WPP is also launching a B2B marketing campaign to promote its new federated AI marketing model. The model relies on data connections with many independent partners, rather than acquiring and warehousing data assets.

GroupM’s rebrand is the latest indication of how agency holding companies are reinventing themselves in light of digital marketing’s AI revolution.

The pending merger between Omnicom and IPG knocks WPP off its pedestal as the largest agency holdco by revenue. Plus, WPP’s revenue shrank 1% in 2024. But WPP sees an opportunity for a fresh start with buyers demanding more AI capabilities from their agency partners, Lesser tells Ad Age.

“Clients care less about the brand on the door,” Lesser says, “and more about the people that work for their business and the technology that’s powering our operations.”

But Wait! There’s More

Horizon Media has RFPs out for vendors in a plan to build a partner network behind its Blu marketing platform. [Ad Age]

Anthropic CEO Dario Amodei says AI companies are “sugarcoating” the truth, which is that AI could wipe out half of white-collar jobs and spike US unemployment. [Axios]

SEO remains relevant for web publishers despite the rise of AI. [Search Engine Journal]

Netflix Co-Founder Reed Hastings joins Anthropic’s board of directors. [TechCrunch] 

You’re Hired!

David Droga is stepping down from his role as CEO of creative consultancy Accenture Song. Ndidi Oteh, the current Accenture Song Americas lead, will take over as CEO in September. [Adweek]

AI video platform Waymark brings on Michael Tuminello as director of product. [release]

AdLib adds Kenton Nguyen, Pragya Bharti and Calvin D’Souza as strategic account managers, and Andrew Jaquez and Katelyn Smith as campaign managers. [release]

Thanks for reading AdExchanger’s daily news round-up… Want it by email? Sign up here.

SAN FRANCISCO (AP) — Artificial intelligence technology bellwether Nvidia overcame a wave of tariff-driven turbulence to deliver another quarter of robust growth amid feverish demand for its high-powered chips that are making computers seem more human.

The results announced Wednesday for the February-April period came against the backdrop of President Donald Trump’s on-again, off-again trade war that has whipsawed Nvidia and other Big Tech companies riding AI mania to propel their revenue and stock prices upward.

But Trump’s tariffs — many of which have been reduced or temporarily suspended — hammered the market values of Nvidia and other tech powerhouses heading into the springtime earnings season as investors fretted about the trade turmoil dimming the industry’s prospects.

Those worries have eased during the past six weeks as most Big Tech companies lived up to or exceeded the analyst projections that steer investors, capped by Nvidia’s report for its fiscal first quarter.

Nvidia earned $18.8 billion, or 76 cents per share, for the period, a 26% increase from the same time last year. Revenue surged 69% from a year ago to $44.1 billion. If not for a $4.5 billion charge that Nvidia absorbed to account for the U.S. government’s restrictions on its chip sales to China, Nvidia would have made 96 cents per share, far above the 73 cents per share envisioned by analysts.

In another positive sign, Nvidia predicted its revenue for the May-July period would be about $45 billion, roughly the level that investors had been anticipating. The forecast includes an estimated $8 billion loss in sales to China due to the export controls during its fiscal second quarter, after the restrictions cost it about $2.5 billion in revenue during the first quarter.

In a conference call with analysts, Nvidia CEO Jensen Huang lamented that the U.S. government had effectively blocked off AI chip sales to China — a market that he estimated at $50 billion. Huang warned the export controls have spurred China to build more of its own chips in a shift that he predicted the U.S. will eventually regret.

“The U.S. based its policy on the assumption that China cannot make AI chips. That assumption was always questionable, and now it’s clearly wrong,” Huang said.

ZDNET’s key takeaways

• The RingConn Gen 2 is a subscription-free smart ring that retails for $300.
• It monitors your sleep, activity, stress, and vitals, and it’s got a marathon battery life.
• The only downside is the user interface feels underdeveloped.

more buying choices

Most smart rings these days claim to offer marathon battery lives, but often fall short of their promise. Many smart rings claim to last a week’s worth of battery, but only make it to five or six days before dying on me. Part of the appeal of smart rings, compared to smartwatches, is their longer battery life, so what gives? 

Also: 5 essential gadgets for my bedtime routine (and why they make such a big difference)

I’ve got one for you if you want a smart ring with a truly competitive battery life. I’ve been testing the RingConn Gen 2 smart ring that boasts a marathon battery life of 10 to 12 days. The smart ring comes with other perks — and a few drawbacks — that I’ll get to below. 

Right off the bat, the RingConn 2 has some green flags. Unlike competing smart ring brands with products that start at $350 and go all the way up to $400 or $450, this smart ring costs $300 — and does not require a subscription to gain full access to your health data. Sizing starts at size six and goes through size 14, and you can get the ring in three colors: silver, black, and gold. 

The build of the ring is more square than circular, but I found myself unbothered by this unique shape. It fits comfortably around my finger with no problems. Despite healthy and frequent wear, the ring doesn’t tarnish easily either. 

Also: Two popular smart ring makers just got caught copying Oura – here’s what happens next

The RingConn Gen 2 comes with a case that extends its already impressively long battery life, powering the smart ring’s empty battery for over 150+ days. As someone who is constantly charging several wearable devices at a time, this long-lasting charging case that I could use without hooking the smart ring up to an outlet made me partial to RingConn. 

Most smart rings offer up daily scores for two to three important health metrics: sleep, activity, and readiness. Readiness is calculated based on yesterday’s activity, how you slept, and other biometric data, like how late your heart rate dropped as you slept. 

Also: The best sleep trackers of 2025: Expert tested and reviewed

The RingConn Gen 2 measures your vitals, sleep, activity, and stress, but doesn’t measure readiness. Instead of readiness, it provides a Wellness Balance feature. It takes all of the aforementioned data and displays it in a flower-like graph, with longer petals for the biometrics that are meeting or exceeding the recommended benchmarks and shorter petals for those that aren’t. 

When all your petals are the same length, it indicates that your wellness is at equilibrium. I liked that I could see all the important data displayed in such a digestible and visual manner right as I opened the app. 

Hardcore trainers use the readiness or energy feature on their smart ring apps to gauge how intense their exercise regimen should be for the day. If that’s you, you might be displeased with the Wellness Balance functionality, and I’d recommend the Oura Ring, Ultrahuman Ring, or Galaxy Ring instead. 

The app delivers your scores alongside context that helps inform the reasoning behind your sleep or vitals score. I was ill one day while testing the ring and spent the entire day sleeping. Because of the large amount of time I spent in bed, it told me that too much sleep can slow down my metabolism or lead to weight gain. 

Also: The best smart rings of 2025: I tested and found an obvious winner

RingConn says that the battery on its second-generation ring lasts up to 10 to 12 days, but in my testing, I found that it only lasted seven. Still, that’s far longer than the battery lives of other smart rings I’ve tried, which last four to five days on a single charge. I can say without a doubt that this smart ring has the most impressive battery life out of every brand I’ve tried. 

According to its website, the RingConn Gen 2 also boasts a sleep apnea detection feature with 90.7% accuracy. If you’re a chronic snorer looking to learn more about how your breathing impacts you throughout the night, the sleep apnea feature could help monitor your conditions and answer some of your questions. 

It tells you when there are significant or minor outliers in your sleep throughout the night, providing not only a graph detailing this but also a timeline showing when your SpO2 fluctuated during the night. 

I wore the Oura Ring 4 in tandem with the RingConn Gen 2 and found that the latter seems to underestimate both the time spent asleep and the steps I’ve taken throughout the day. 

Also: Oura Ring users are customizing their wearables with this clever design hack

The RingConn and Oura both ranked my sleep efficiency in the 87th and 88th percentiles. Oura said I got 11 hours and eight minutes of sleep, while RingConn said I spent 10 hours and 50 minutes asleep. RingConn reported 11,091 steps, while Oura reported 15,259 steps. I’ve seen in various Reddit threads that the Oura Ring tends to overestimate step count, which could account for the great disparity in steps between rings. 

On a healthy night of sleep, Oura recorded eight hours and two minutes, a sleep efficiency of 94%, and a sleep score of 90. RingConn recorded an 84 sleep score, seven hours and 45 minutes asleep, and a sleep efficiency of 91%. In both cases, RingConn is subtracting around 15 minutes from my night’s sleep. 

ZDNET’s buying advice

I enjoyed most aspects of wearing this subscription-free smart ring, and at $300 ($50 less than competitors), it’s a smart ring I’d recommend to those looking for an alternative to Oura’s subscription-based services. especially if you want a smart ring with a battery life that will actually last you a week before recharging. 

The one area where I noticed RingConn’s smart ring lacking was in its user interface. The app feels underdeveloped, and some of the messages lacked personal context that proved they were being generated from my own data. On one good sleep score day, all that it said when I clicked on the sleep tab was: “Good sleep makes you happy.” That’s my only true gripe, and I hope the recommendations can become more tailored and informative in future software updates. 

Otherwise, the RingConn Gen 2 is an impressive smart ring with comprehensive health metric monitoring that’s on the cheaper end of the smart ring spectrum. It accurately tracks sleep with features like sleep apnea monitoring that could help you uncover your snoring patterns, it’s got a marathon battery life (plus a charging case with 150 days’ worth of juice in it), and a build you can wear comfortably. 

Notes

Quarterly Dividend

On May 27, 2025, the Company’s Board of Directors authorized and declared a quarterly dividend in the amount of $1.2125 per share on the Company’s common stock and Class B common stock. The dividend is payable in cash on June 27, 2025 to stockholders of record at the close of business on June 13, 2025.

Agreement to Acquire Foot Locker

On May 15, 2025, the Company announced that it entered into a definitive merger agreement to acquire Foot Locker, Inc., a leading footwear and apparel retailer. Under the terms of the merger agreement, Foot Locker shareholders will elect to receive either (i) $24.00 in cash or (ii) 0.1168 shares of DICK’S Sporting Goods common stock for each share of Foot Locker common stock, for a total equity value of approximately $2.4 billion and an enterprise value of approximately $2.5 billion. The completion of the acquisition is subject to Foot Locker shareholder approval and other customary closing conditions, including regulatory approvals, and is expected to close in the second half of 2025. The Company intends to finance the acquisition through a combination of cash-on-hand, revolving borrowings and other new debt, to the degree Foot Locker shareholders do not elect to receive their consideration entirely in shares of the Company’s common stock.

Full Year 2025 Outlook ⁽¹⁾

The Company’s Full Year Outlook for 2025 presented below does not include acquisition-related costs, investment losses or results from the recently announced plan to acquire Foot Locker:

Store Count and Square Footage

The following table summarizes store activity for fiscal 2025:

Non-GAAP Financial Measures

In addition to reporting the Company’s financial results for the first quarter in accordance with generally accepted accounting principles (“GAAP”), the Company reports certain financial results for that quarter that differ from what is reported under GAAP. These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating margin (also referred to as non-GAAP EBIT margin), non-GAAP EBT margin, non-GAAP net income, non-GAAP earnings per diluted share and net capital expenditures, which management believes provides investors with useful supplemental information to evaluate the Company’s ongoing operations and to compare with past and future periods. Furthermore, management believes that adjustments related to its deferred compensation plans enables investors to better understand its selling, general and administrative expense trends by excluding non-cash changes in our deferred compensation plan investment fair values from market fluctuations that are offset within other income. Management also uses these non-GAAP measures internally for forecasting, budgeting, and measuring its operating performance. These measures should be viewed as supplementing, and not as an alternative or substitute for, the Company’s financial results prepared in accordance with GAAP. The methods used by the Company to calculate its non-GAAP financial measures may differ significantly from methods used by other companies to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies. A reconciliation of the Company’s non-GAAP measures to the most directly comparable GAAP financial measures are provided below and on the Company’s website at investors.DICKS.com.

Information reconciling certain forward-looking GAAP measures to non-GAAP measures related to full-year 2025 outlook and guidance, including earnings per diluted share, net sales, comparable sales and capital expenditures, in each case presented herein on a non-GAAP basis due to the exclusion of acquisition-related costs, investment losses and results from the recently announced plan to acquire Foot Locker, is not available without unreasonable effort due to high variability, complexity and uncertainty involved in forecasting and quantifying certain amounts with respect to and resulting from the planned acquisition that are necessary for such reconciliations. For those reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.

Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as “believe”, “anticipate”, “expect”, “estimate”, “predict”, “intend”, “plan”, “project”, “goal”, “will”, “will be”, “will continue”, “will result”, “could”, “may”, “might” or any variations of such words or other words with similar meanings. Any statements about DICK’S Sporting Goods, Inc.’s (“DICK’S Sporting Goods”), Foot Locker, Inc.’s (“Foot Locker”) or the combined company’s plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond DICK’S Sporting Goods’, Foot Locker’s and the combined company’s control. DICK’S Sporting Goods’, Foot Locker’s and the combined company’s future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the Company’s future performance and growth opportunities, including 2025 guidance, continued comp growth, strategic investments and square footage expansion, and improved gross margin; the benefits of the combination of DICK’S Sporting Goods and Foot Locker (the “Transaction”), future financial and operating results and the combined company’s plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts.

Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, current macroeconomic conditions, including prolonged inflationary pressures, potential changes to international trade relations, geopolitical conflicts and adverse changes in consumer disposable income; supply chain constraints, delays and disruptions; fluctuations in product costs and availability due to tariffs, currency exchange rate fluctuations, fuel price uncertainty and labor shortages; changes in consumer demand for products in certain categories and consumer lifestyle changes; intense competition in the sporting goods industry; the overall success of DICK’S Sporting Goods’, Foot Locker’s and the combined company’s strategic plans and initiatives; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s vertical brand strategy and plans; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s ability to optimize their respective distribution and fulfillment networks to efficiently deliver merchandise to their stores and the possibility of disruptions; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s dependence on suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; the potential impacts of unauthorized use or disclosure of sensitive or confidential customer, employee, vendor or other information; the risk of problems with DICK’S Sporting Goods’, Foot Locker’s and the combined company’s information systems, including e-commerce platforms, and any associated disruptions to operations; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s ability to attract and retain customers, executive officers and employees; our investments in GameChanger, our sports technology platform, DICK’S Media Network, and other technology to enhance our store fulfillment, in-store pickup and other foundational capabilities; potential reputational harm; our athlete experiences and associated costs, innovation, liability and competition associated with our specialty stores and vertical brands; increasing labor costs; the effects of the performance of professional sports teams within DICK’S Sporting Goods’, Foot Locker’s and the combined company’s core regions of operations; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s ability to control expenses and manage inventory shrink; the seasonality of certain categories of DICK’S Sporting Goods’, Foot Locker’s and the combined company’s operations and weather-related risks; changes in applicable tax laws, regulations, treaties, interpretations and other guidance; product safety and labeling concerns; the projected range of capital expenditures of DICK’S Sporting Goods, Foot Locker and the combined company, including costs associated with new store development, relocations and remodels and investments in technology; plans to return capital to stockholders through dividends and share repurchases, if any; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s ability to meet market expectations; the influence of DICK’S Sporting Goods’ Class B common stockholders and associated possible scrutiny and public pressure; compliance and litigation risks, including changing rules, regulations and expectations related to environmental, social and governance matters and various types of litigation and other claims and sufficient insurance with respect thereto; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s ability to protect their respective intellectual property rights or respond to claims of infringement by third parties; the availability of adequate capital; obligations and other provisions related to DICK’S Sporting Goods’, Foot Locker’s and the combined company’s indebtedness; DICK’S Sporting Goods’, Foot Locker’s and the combined company’s future results of operations and financial condition; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Transaction; the outcome of any legal proceedings that may be instituted against DICK’S Sporting Goods or Foot Locker, including with respect to the Transaction; the possibility that the Transaction does not close when expected or at all because required regulatory or shareholder approvals or other conditions to closing are not received or satisfied on a timely basis or at all (and the risk that such approvals may result in the imposition of conditions that could adversely affect the combined company or the expected benefits of the Transaction); the risk that the benefits from the Transaction, including anticipated cost synergies, may not be fully realized or may take longer to realize than expected; the ability to promptly and effectively integrate the businesses of DICK’S Sporting Goods and Foot Locker following the closing of the Transaction; the dilution caused by the issuance of shares of DICK’S Sporting Goods common stock in the Transaction; the possibility that a Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the terms of the debt financing incurred in connection with the Transaction; reputational risk and potential adverse reactions of DICK’S Sporting Goods’ or Foot Locker’s customers, employees or other business partners; and the diversion of DICK’S Sporting Goods’ and Foot Locker’s management’s attention and time from ongoing business operations and opportunities due to the Transaction. These factors are not necessarily all of the factors that could cause DICK’S Sporting Goods’, Foot Locker’s or the combined company’s actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm DICK’S Sporting Goods’, Foot Locker’s or the combined company’s results.

For additional information on these and other factors that could affect the Company’s actual results, see the risk factors set forth in the Company’s filings with the Securities and Exchange Commission (“SEC”), including the most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025. We operate in a highly competitive and rapidly changing environment; therefore, new risk factors can arise, and it is not possible for the Company to predict all such risk factors. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation. Forward-looking statements included in this release are made as of the date of this release.

Additional Information about the Merger and Where to Find It

In connection with the Transaction, DICK’S Sporting Goods intends to file with the SEC a registration statement on Form S-4, which will include a proxy statement of Foot Locker that also constitutes a prospectus for the shares of DICK’S Sporting Goods common stock to be offered in the Transaction. Each of DICK’S Sporting Goods and Foot Locker may also file other relevant documents with the SEC regarding the Transaction. This communication is not a substitute for the proxy statement/prospectus or registration statement or any other document that DICK’S Sporting Goods or Foot Locker may file with the SEC. The definitive proxy statement/prospectus (if and when available) will be mailed to shareholders of Foot Locker. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT DICK’S SPORTING GOODS, FOOT LOCKER, THE TRANSACTION AND RELATED MATTERS. Investors and security holders will be able to obtain free copies of the registration statement and proxy statement/prospectus (if and when available) and other documents containing important information about DICK’S Sporting Goods, Foot Locker and the Transaction once such documents are filed with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by DICK’S Sporting Goods will be available free of charge on DICK’S Sporting Goods’ website at https://investors.dicks.com. Copies of the documents filed with the SEC by Foot Locker will be available free of charge on Foot Locker’s website at https://investors.footlocker-inc.com.

Participants in the Solicitation

DICK’S Sporting Goods, Foot Locker and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the Transaction. Information about the directors and executive officers of DICK’S Sporting Goods is set forth in DICK’S Sporting Goods’ proxy statement for its 2025 annual meeting of stockholders, which was filed with the SEC on May 2, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/0001089063/000108906325000054/dks-20250501.htm, under the headings “Corporate Governance,” “Director Compensation,” “Executive Compensation,” “Transactions with Related Persons” and “Stock Ownership,” DICK’S Sporting Goods’ Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/1089063/000108906325000012/dks-20250201.htm, and to the extent holdings of DICK’S Sporting Goods securities by its directors or executive officers have changed since the amounts set forth in DICK’S Sporting Goods’ proxy statement for its 2025 annual meeting of stockholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC. Information about the directors and executive officers of Foot Locker is set forth in Foot Locker’s proxy statement for its 2025 annual meeting of shareholders, which was filed with the SEC on April 10, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000110465925033769/tm2425908-3_def14a.htm, under the headings “Governance,” “Director Compensation,” “Executive Compensation” and “Shareholder Ownership,” Foot Locker’s Annual Report on Form 10-K for the fiscal year ended February 1, 2025, which was filed with the SEC on March 27, 2025 and is available at https://www.sec.gov/ix?doc=/Archives/edgar/data/850209/000143774925009620/floc20241213_10k.htm, and to the extent holdings of Foot Locker securities by its directors or executive officers have changed since the amounts set forth in Foot Locker’s proxy statement for its 2025 annual meeting of shareholders, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes in Beneficial Ownership on Form 4, which are filed with the SEC.

Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the Transaction when such materials become available. Investors should read the proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. Copies of the documents filed with the SEC by DICK’S Sporting Goods and Foot Locker will be available free of charge through the website maintained by the SEC at www.sec.gov. Additionally, copies of documents filed with the SEC by DICK’S Sporting Goods will be available free of charge on DICK’S Sporting Goods’ website at https://investors.dicks.com and those filed by Foot Locker will be available free of charge on Foot Locker’s website at https://investors.footlocker-inc.com.

Conference Call Info 

The Company will host a conference call today at 8:00 a.m. Eastern Time to discuss the first quarter results. Investors will have the opportunity to listen to the earnings conference call over the internet through the Company’s website located at investors.DICKS.com. To listen to the live call, please go to the website at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, it will be archived on the Company’s website for approximately twelve months.

About DICK’S Sporting Goods, Inc.

DICK’S Sporting Goods (NYSE: DKS) creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omni-channel retailer serves athletes and outdoor enthusiasts in more than 850 DICK’S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! stores, online, and through the DICK’S mobile app. DICK’S also owns and operates DICK’S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping.

Driven by its belief that sports have the power to change lives, DICK’S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK’S business, corporate giving and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Instagram, TikTok, Facebook and X.

Contacts:

Investor Relations:
Nate Gilch, Senior Director of Investor Relations
DICK’S Sporting Goods, Inc.
[email protected]
(724) 273-3400

Media Relations:
(724) 273-5552 or [email protected]

Category: Earnings

SOURCE DICK’S Sporting Goods, Inc.