Analysts see Nike as a key beneficiary of Dick's Sporting Goods buying Foot Locker in a deal valued at around $2.4 billion.

Foot Locker reports Q1 sales decline and adjusted net loss amid softer global traffic. Shares surge 81% on $2.4B DICK'S acquisition deal.

The Pittsburgh-based company, which is the largest sporting goods retailer in the country, is nearing a deal to acquire rival Foot Locker, according to the Wall Street Journal. If finalized, the agreement is reportedly worth $2.3 billion and could be wrapped up as early as Thursday.