Dick’s Sporting Goods Inc (NYSE: DKS) just signed a deal with Walmart Inc (NYSE: WMT) to buy Moosejaw – an online retailer that specializes in outdoor recreation apparel and gear.
How much is Dick’s paying for Moosejaw?
The retail company aims at expanding its footprint with this acquisition in the not so crowded, multibillion-dollar outdoor market. Todd Spaletto – its Senior Vice President said in the សេចក្តីប្រកាសព័ត៌មាន:
We admire what Moosejaw has accomplished. We believe there’s potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers.
Walmart had bought Moosejaw in 2017 for $51 million. What Dick’s paying for it, though, is yet to be revealed. The ព័ត៌មានអំពីទីផ្សារភាគហ៊ុន arrives only a day after Walmart Inc issued disappointing guidance for its current financial quarter (អានបន្ថែម).
Dick’s will get to grow its eCommerce business
Dick’s Sporting Goods had roughly $1.40 billion in cash and equivalents at the end of ត្រីមាសរាយការណ៍ចុងក្រោយរបស់ខ្លួន។.
The retailer expects this acquisition that’s expected to close in March to help grow its eCommerce business as well. According to Moosejaw CEO Eoin Comerford:
Like Moosejaw, Dick’s sees a huge opportunity to bring more people to the outdoors. Together we will serve outdoor enthusiasts from beginners to experts across multiple channels and locations.
Comerford will report to Spaletto once the transaction is complete. Moosejaw will still operate independently, though. Earlier this month, Moosejaw partnered with Recurate to launch its resale platform ReTrail.
Source: https://invezz.com/news/2023/02/22/dicks-sporting-goods-buying-moosejaw/