DICK’S Sporting Goods, Inc. (DKS) Might Work With Nike Through The Foot Locker Deal, Says Jim Cramer

We recently published 14 Latest Stocks on Jim Cramer’s Radar. DICK’S Sporting Goods, Inc. (NYSE:DKS) is one of the stocks Jim Cramer recently discussed.

DICK’S Sporting Goods, Inc. (NYSE:DKS) shares have lost 2.9% year-to-date due to headwinds generated by the April tariff announcement, its Foot Locker acquisition, and weak earnings performance. During this appearance, Cramer discussed the acquisition and commented on not reading too much into Wall Street’s initial reaction to such deals:

“When DICK’S decided to buy Foot Locker it was wildly perceived to be one of the dumbest things ever. The stock broke down. People saying what do they know. How can that stack, how can Lauren Hobart do that. Mary Dillon really pulled the wool over. Well now, people are saying that you know what, they have the critical mass to be able to, have some buying power. Like maybe they can even go to Nike and say look, this is what we want. Now, I think that Nike’s more of a partner with DICK’S sports, but Citi says it’s going to go to 280 and it’s a reminder that when you see a takeover. . don’t immediately presume that the buyer’s an idiot.”

Pixabay/Public Domain

Cramer had mirrored these thoughts after the acquisition was announced. Here is what he said:

“Oh, okay. Look, here’s… [why] I didn’t try hard enough. When DICK’s bought Foot Locker, I should have just said, buy, buy, buy. Instead, it’s all the way back. It’s kind of like the two that I’ve been most regretting that I didn’t pound the table, Dell enough, and I didn’t pound the table DICK’s enough. DICK’s is still good. They obviously knew what they were doing when they bought Foot Locker. Great relationship by the way now with Nike.”

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Disclosure: None. This article is originally published at Insider Monkey.