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Today, the City of Charleston announced the launch of a Hospitality Worker Parking Pilot Program, a new initiative designed to provide limited free parking access for hospitality employees who work on the Peninsula. This pilot effort aims to test a model that could be scaled up in the future to support more workers in Charleston’s vital hospitality industry. 

Beginning Monday, May 12, applications will open for Peninsula hospitality businesses (restaurants, bars, hotels/lodging) to request parking permits for their employees. Only business owners or general managers may apply, with each business eligible to request up to five permits. The application period runs through May 30, and parking access for approved permit holders will begin on June 1, 2025. 

“This pilot program is a first step toward addressing a challenge hospitality workers have faced for years—reliable, affordable access to parking near their jobs,” said Mayor William Cogswell. “We’re starting small to ensure the system works, but our goal is to build on this and expand it to reach more workers in the near future.” 

The program provides access to 70 designated spaces located at Union Pier Lot B (196 Concord Street). These spaces are available 24/7 for permitted users and will be clearly marked. While the permit cost is $15, parking in the lot is free for all approved permit holders. Spaces are available on a first-come, first-served basis and are subject to City parking rules and regulations. 

Applications may be submitted in two ways: 

• By email to: servicelotb@charleston-sc.gov 
• In person at: 180 Lockwood Boulevard, Monday–Friday, 8:30 a.m. to 5:00 p.m. 
  (Note: In-person submissions are for drop-off only. Staff will not review applications at the time of drop-off.) 

Additionally, permits are not vehicle-specific and may be shared among employees at a business, provided they are properly managed. Once issued, permits should be kept on-site at the business and made available to staff as needed. The business is responsible for distributing and collecting permits to ensure proper use. 

To further support the program, CARTA has reinstated its HOP (Hospitality on Peninsula) route, which will operate pickups from Union Pier Lot B to transport workers throughout the Peninsula. This service makes it easier and more convenient for hospitality workers to access jobs across downtown from the parking lot. 

City officials emphasize that this is a pilot program—a temporary initiative intended to evaluate the effectiveness of targeted parking support for hospitality workers. Feedback from participating businesses will be used to help shape a future, larger-scale program. 

For more information and to access the application starting May 12, please visit this link. 

Questions can be directed to servicelotb@charleston-sc.gov. 

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Empowering Youth SC leads statewide initiative to uplift and equip South Carolina’s next generation of leaders

CHARLESTON, S.C. — Empowering Youth SC (EYSC) proudly announces that South Carolina Governor Henry McMaster has officially proclaimed June 2025 as Youth Empowerment Month, a statewide recognition of the critical role young people play in shaping the future of the Palmetto State.

The proclamation — procured by EYSC — celebrates the contributions and potential of South Carolina’s youth, while encouraging communities to provide opportunities that foster growth, leadership, and lifelong success.

“Youth Empowerment Month allows us to highlight the good happening in our backyard,” says Alli Stovall, Miss Clarendon 2025 and EYSC Community Engagement Series moderator and workshop facilitator. “We are currently raising the next transplant surgeons, lawmakers, and teachers. This initiative amplifies the impact of organizations like Empowering Youth SC that are helping young people find the tools they need to build a better life for themselves. Together, we can empower and equip the next generation with the skills and tools they need to thrive.”

June marks a transitional season for youth across South Carolina, with the close of the school year ushering in new routines and, for many, new challenges. Youth Empowerment Month shines a light on those at risk of being disconnected from vital resources and support during summer months and encourages communities to step up.

“Too many young people are struggling with stress, isolation, or a lack of access to basic resources,” said Wendy Methvin, Executive Director of Empowering Youth SC. “This proclamation not only acknowledges the challenges youth face but also honors the community partners working to change the narrative. Youth Empowerment Month is about connection — to support, to opportunity, and to hope.”

Through programs such as the Elev8Gen Workshop Series, Community Engagement Series, and its resource platform ResourceSC.org, EYSC is providing year-round opportunities for young people and families to access tools that build confidence, character, and resilience.

State leaders see this initiative as more than symbolic — it’s an investment in the state’s future workforce and community health.

South Carolina Lt. Governor Pamela Evette emphasized the broader impact of youth empowerment: “When we invest in our young people, we’re investing in South Carolina’s economic future. Empowered youth become engaged citizens, skilled workers, and innovative leaders. Youth Empowerment Month helps create a pipeline of talent by connecting young people to programs that inspire growth and prepare them for tomorrow’s opportunities.”

The Governor’s Proclamation affirms this mission, recognizing the month of June as a pivotal time to amplify youth-focused efforts and foster inclusive, supportive environments where all young people can thrive.

Empowering Youth SC will be commemorating Youth Empowerment Month with a series of awareness and engagement efforts throughout June. One such event, a private fundraiser for supporters and partners, will be held June 18 at Saltwater Cowboys in Mount Pleasant. Proceeds will support programs that equip youth with essential life and leadership skills.

About Empowering Youth SC

Empowering Youth SC bridges the gap by equipping young people with the confidence, life, and leadership skills they need to thrive in school, work, and life — before challenges become crises. Through dynamic programs, school-based workshops, and community events, EYSC connects with youth where they are and empowers them to lead lives grounded in purpose and resilience.

To learn more or to get involved during Youth Empowerment Month, visit www.empoweringyouthsc.org.

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By Mark A Leon

Charleston, South Carolina is has developed a national and international reputation for fine dining and cuisine.   Yet, in the heart of this Southern retreat, a Pakistini restaurant stands out as a model of quality and excellence, Ma’am Saab located at 251 Meeting Street, the site of the former Southern cooking local favorite Jestine’s Kitchen.

Ma’am Saab offers a remarkable dining experience centered on generational Pakistani recipes, unique cocktails, and exceptional customer service. Located in the historic district, this modern Pakistani restaurant and bar brings the rich culinary heritage of Pakistan to life with a contemporary twist, led by Chef Maryam Ghaznavi.

Generational Recipes with a Modern Twist

Ma’am Saab’s menu is deeply rooted in traditional Pakistani flavors, drawing from recipes that date back to the Mughal era. Signature dishes like Butter Chicken, Chicken Biryani, Lamb Karahi, and Lamb Samosas showcase the vibrant spices and rich sauces that define Pakistani cuisine. These recipes have been thoughtfully refined to appeal to modern palates while preserving their authentic essence. 

Guests often praise the balance of bold flavors and tender textures, such as the creamy, spice-infused Butter Chicken and fragrant, saffron-laced Biryani.

Unique Cocktails and Beverage Offerings

The restaurant complements its food with a creative beverage menu featuring vibrant cocktails that blend South Asian ingredients with Southern charm. 

Their happy hour offers inventive drinks alongside craft cocktails, including mango lassis that cool the palate and specialty concoctions that pair beautifully with the bold spices of the cuisine. 

These expertly crafted cocktails are a key part of the lively and inviting atmosphere.

Amazing Customer Experience

Ma’am Saab is celebrated not only for its food but also for its warm, attentive service and welcoming ambiance. The staff is knowledgeable and friendly, often providing expert recommendations to enhance the dining experience. The décor combines exposed brick, floral wallpaper, and ultraviolet lighting to create a vibrant yet cozy setting that invites guests to relax and savor their meal. 

The seamless service and the family-style sharing approach, which fosters a communal and memorable experience.

Ma’am Saab in Charleston stands out by offering a unique fusion of generational Pakistani recipes with modern culinary techniques, a distinctive cocktail program, and an outstanding customer experience that captures the spirit of both Pakistan and Southern hospitality.

Ma’am Saab is open for lunch and dinner Tuesday through Saturday. Stay connected on Instagram.

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 By Mark A Leon

Bowen’s Island Restaurant, located at 1870 Bowen’s Island Road, Charleston, SC, offers a unique, rustic dining experience that has become a beloved local institution since its founding in 1946. The vibe is casual and unpretentious, with a setting that feels like a laid-back fish camp rather than a traditional restaurant. 

The building itself is a charming collection of weathered cinder blocks and wooden boards covered in layers of graffiti, reflecting decades of visitors’ marks and stories. This atmosphere creates a sense of community and history, making it more than just a place to eat—it’s a cultural experience and a state of mind.

The restaurant is famous for its oysters, which are harvested locally and roasted under burlap on a smoky pit. Unlike the polished oyster presentations found elsewhere, Bowen’s serves oysters in their natural, rustic form, often clumped together with silt intact. Diners shuck their own oysters at the table, adding to the hands-on, authentic feel. 

The only condiment offered is a spicy cocktail sauce recipe handed down from the original owner, May Bowen, and many patrons bring their own butter to enhance the flavor. This no-frills approach highlights the freshness and quality of the seafood itself.

Here are five reasons to dine at Bowen’s Island Restaurant:

• Authentic Local Seafood: The menu features fresh, local oysters, fried shrimp, crab cakes, and the Lowcountry specialty Frogmore stew, showcasing the best of Charleston’s coastal cuisine.

• Historic and Rustic Ambiance: The graffiti-covered walls and simple picnic-style seating create a unique, nostalgic atmosphere that transports guests back to an old-school oyster roast tradition.

• Waterfront Views: Situated on a 13-acre island on Folly Creek, the restaurant offers beautiful sunset views that complement the dining experience perfectly.

• Casual, Family-Owned Charm: Operated by the Bowen family for generations, the restaurant maintains a welcoming, down-to-earth vibe that feels like dining with old friends.

• Award-Winning Reputation: Recognized by the James Beard Foundation as an American Classic and praised by Coastal Living and Southern Living, Bowen’s Island Restaurant is celebrated for its cultural and culinary significance.

Bowen’s Island Restaurant is a must-visit for seafood lovers seeking an authentic, relaxed, and historic dining experience with stunning views and a strong connection to Charleston’s coastal heritage.

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Photo Credit: Charleston Daily and Bowen’s Island Restaurant

COLUMBIA, S.C. – Homanit, a leading manufacturer of wood materials, today announced it selects Clarendon County to establish the company’s U.S. manufacturing operation. The $250 million investment will create 300 new jobs.

Headquartered in Germany, Homanit is a leading European manufacturer of medium- and high-density wood fiberboards for furniture, automotive, door and coating industries worldwide. The company currently operates production facilities in Germany, Lithuania and Poland.

Homanit’s new facility, located at 1200 Spigner Road in Alcolu, will produce its fiberboards for U.S.-based customers.

Operations are expected to be online in 2028.

The Coordinating Council for Economic Development approved job development credits related to the project.

QUOTES

“We are incredibly grateful for the warm welcome and strong support we’ve received from the Clarendon County community, the state of South Carolina and Governor McMaster. This investment marks a significant milestone for our company, and we’re proud to become part of such a vibrant and forward-looking region. The area’s skilled workforce, strategic location and strong infrastructure make Clarendon County the ideal foundation for our next phase of growth in North America.” -Homanit Managing Director Fritz Homann

“South Carolina’s workforce has proven itself to be one of the best in the world and continues attracting major investments to our state. Homanit’s decision to invest in Clarendon County and create an impressive 300 new jobs in the community will greatly benefit our state and our people for many years to come.” -Gov. Henry McMaster 

“Homanit’s announcement to establish such a large operation in Clarendon County represents a tremendous vote of confidence in our state’s forestry and manufacturing industries. This significant $250 million investment and the opportunities it brings to a rural area will have a lasting impact. Congratulations to Homanit and Clarendon County on this remarkable accomplishment.” -Secretary of Commerce Harry M. Lightsey III

“I’m pleased to welcome Homanit as the newest member of South Carolina’s thriving agribusiness industry. This company will support our state’s timber farmers at a critical time and offer quality jobs in a rural part of our state.” -Commissioner of Agriculture Hugh Weathers

“Homanit’s sizable investment – the largest forest products manufacturing announcement in the state in more than three years – is welcome news, particularly for our pine pulpwood markets. Our state’s healthy, abundant forests attract wood-using industry, create jobs and incentivize landowners to grow more trees, sustaining a supply chain that powers South Carolina’s economy and encourages conservation.” -State Forester Scott Phillips

“On behalf of Clarendon County Council, we extend a warm welcome to Homanit. The economic impact of a project of this magnitude will be felt throughout our community for generations to come. We sincerely thank you for placing your confidence in Clarendon County and selecting Alcolu, South Carolina as your home.” -Clarendon County Council Chairman John E. Johnson III

“We are pleased that international companies continue to choose central South Carolina for their U.S. operations. The central region’s rich natural resources and skilled workforce have made Homanit’s decision to invest $250 million and create 300 new jobs in Clarendon County possible. This investment not only boosts our region’s economy and improves the quality of life for residents, but also reinforces that our region has a lot to offer to growth-oriented companies.” -Central SC Alliance Chairman Matthew Shaffer

FIVE FAST FACTS

• Homanit selects Clarendon County to establish its U.S. manufacturing operation.
• The company’s $250 million investment will create 300 new jobs.
• Homanit is a leading manufacturer of wood materials.
• The company will be located at 1200 Spigner Road in Alcolu, S.C.
• Operations are expected to be online in 2028.

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By Mark A Leon

We recently had the pleasure of meeting Bailey Crump, floral desiger and owner of Garden Party Charleston.   When you spend time with Bailey, you will quickly see she is as charming as her flowers and her eye for natural beauty is unmatched.

We’d like to share the origins, vision and passion behind Garden Party Charleston and why it should be one of you top options for floral needs.

Bailey Crump’s Vision

Garden Party Charleston, founded by floral designer Bailey Crump, has quickly become a sought-after name for distinctive, organic floral arrangements in the city’s vibrant event scene. 

Crump’s signature style—lush, whimsical, and rooted in the natural beauty of the Lowcountry—has graced everything from intimate gatherings to high-profile brand launches. Her work is celebrated for its artful mix of wildflowers, emerald foliage, and a sense of effortless elegance that channels Charleston’s unique charm.

Founder Spotlight: Bailey Crump

Bailey Crump’s journey began with a passion for translating the region’s natural abundance into sophisticated floral artistry. Her approach is both intuitive and meticulous, blending classic Southern hospitality with a modern sensibility. Crump’s arrangements are known for their organic movement and fresh-from-the-garden feel, making her a favorite among discerning hosts and luxury brands alike.

Client Highlights

• AERIN x Julia Amory Capsule Launch: One of Garden Party Charleston’s standout moments was designing florals for the exclusive launch dinner of the AERIN x Julia Amory collection at Zero George, a boutique hotel in Charleston. Crump’s arrangements of white wildflowers and emerald foliage adorned the staircase, setting a magical tone as guests moved from cocktails in the courtyard to a five-course dinner. The florals echoed the collection’s sage green palette and effortless elegance, earning praise for perfectly capturing the event’s spirit.

• Charleston’s Social Scene: Crump’s work is regularly featured at some of Charleston’s most stylish affairs, from garden tours and preview parties to black-tie weddings. Her ability to tailor each arrangement to the event—whether it’s a timeless Southern soirée or a modern garden party—has made Garden Party Charleston a go-to for clients seeking both beauty and authenticity.

Why Garden Party Charleston Stands Out

Bailey Crump’s florals do more than decorate—they tell a story. Each arrangement is a celebration of place, season, and occasion, thoughtfully designed to enhance every moment. Garden Party Charleston continues to set the standard for floral artistry in the region, with Bailey Crump at the helm as both creative force and gracious collaborator.

Follow the journey on Instagram.

By Mark A Leon

Magnolia Plantation & Gardens, a historic Charleston landmark and one of the areas too attractions, has embraced digital innovation to transform the visitor experience. 

Here are five key reasons the Magnolia mobile app and related tech upgrades have elevated every visit:

1. Effortless Navigation with GPS Wayfinding

Navigating Magnolia’s sprawling 400+ acres can be daunting, but the app’s GPS-enabled, hand-illustrated map makes it easy for guests to find their way, discover must-see locations, and avoid getting lost. This is especially helpful in a romantic-style garden where paths wind organically and landmarks can be hard to spot from the center of the gardens.

2. Streamlined Entry and Reduced Queues

The app’s mobile ticketing feature allows visitors to buy and scan tickets digitally, significantly cutting down wait times at the entrance. This not only improves the first impression but also frees up staff to focus on enhancing guest interactions rather than managing lines.

3. Real-Time Updates and Personalized Alerts

Push notifications keep guests informed about daily activities, special events, weather alerts, and membership promotions. Visitors can receive timely information right on their phones, ensuring they never miss a bloom tour or a unique garden event.

4. Enhanced Learning and Seasonal Discovery

With the “What’s in Bloom” feature, guests can explore which plants are currently flowering and even take themed walking tours, like the popular camellia tour in winter. The app also enables Magnolia to share horticultural insights, highlight hidden gems, and rotate educational content based on the season, making every visit unique.

5. Sustainability and Staff Efficiency

By replacing paper maps and printed materials, the app supports Magnolia’s sustainability goals and significantly reduces waste and printing costs. Staff are less burdened by repetitive questions, as guests can access information independently, and internal teams can use visitor data to optimize operations and guest flow.

The Magnolia Plantation & Gardens app (available to download in all app stores) has modernized the guest experience by making visits easier, more informative, and more sustainable. With features that cater to both first-time visitors and returning members, Magnolia continues to blend its rich history with cutting-edge technology for a truly memorable outing.

Creating space to connect with our common humanity

As the country grapples with division, Charleston-based Transformation Table offers a simple yet powerful solution: gather people from different backgrounds around a table for a meal and conversation.

Transformation Table’s story started in 2016 at an event commemorating the Mother Emanuel AME tragedy, during which Dr. Bernice A. King challenged the Charleston community to “get intimate.” Her message was clear: “Go to each other’s homes. Have dinner!” Inspired by King’s message and her own background hosting cross-cultural dinners as a development worker in Afghanistan, Tina Singleton founded Transformation Table. Rooted in the belief that empathy grows through shared understanding, Singleton curates dinners that bring together community members of different backgrounds, many of whom might never otherwise meet. Around a home-cooked meal and honest dialogue, guests begin to see each other as individuals and break down stereotypes.

Dinners are hosted in private homes or by community organizations, with a pay-what-you-can model. On Friday, June 20 from 6:30-9:30 p.m., Transformation Table is hosting a special gathering at Joseph Fields Farm centered on the theme of Community, with a meal prepared by Chef BJ Dennis, in remembrance of the Emanuel Nine.

Click HERE for reservations.

Learn more about the story behind Transformation Table and stay connected on Instagram.

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These blazing markets blend big-city amenities with lower housing costs than megacities along the West and East coasts.

Four South Carolina markets were among the Top 15 in this latest report from U.S. News and World Report: Charleston-North Charleston, SC #4, Columbia, SC #7, Greenville/Anderson/Mauldin, SC #8 and Charlotte, Concord, Gastonia, NC/SC #12

Key Takeaways

• The top-ranked MSAs are located in a variety of locations including Nebraska, Texas, South Carolina and Colorado.
• Markets to watch that improved the most between June and January include Orlando, Florida; St. Louis; Greeley, Colorado; Richmond, Virginia; and Southern California’s Inland Empire counties, which include Riverside and San Bernardino.
• The most resilient markets that improved year-over-year through January were led by Columbia, South Carolina; Kansas City, Missouri; Los Angeles; San Jose, California; and Boise City, Idaho.

With inflation through February slowly heading in the right direction and 30-year fixed mortgage rates recently settling in at about 6.7%, hopeful homebuyers are slowly edging back into the housing market. But is it enough to unlock a semifrozen housing market?

The good news is that according to Freddie Mac, applications for mortgage purchase loans were up 5% year-over-year through mid-March. At the same time, with stock markets in flux and consumer sentiment dipping sharply in recent weeks, if concerns about rebounding inflation and job security continue to build, that could prompt some buyers to wait for more certainty.

Still, even if consumers hold back on high-ticket items such as new cars, trips and electronics, the stability of owning one’s own home is a powerful motivator to take the plunge into the housing market – especially if it’s relatively affordable, such as in the hottest housing market for January.

Since the metrics for local housing markets will not be equal for each region, state or city, it’s important for buyers and sellers to do their research,orank their must-haves and find the best agents for their situations.

Our analysis of the hottest housing markets pulls from the U.S. News Housing Market Index,which incorporates a wide array of data points and provides a simple yet comprehensive way to rank the covered metropolitan statistical areas (MSAs) from frigid to balmy on a scale of 1-100. This particular ranking is based on data from January 2025.

Hottest Markets Overall

Although the hottest MSA scores ranged up to 76.2, there were lower-scoring MSAs under 50, including Boston, Sacramento and two markets in Florida. At the top of the spectrum, the following MSAs are the hottest housing markets ranked from first to fifth:

• Omaha, Nebraska – 76.2
• Austin, Texas – 72.3
• Houston – 72.1
• Charleston, South Carolina – 71.6
• Denver – 71.5

Given a tightening job market with employers regaining the balance of power, working remotelyfull time is much less of a consideration for today’s homebuyers. As a result, the metrics that define a relatively hot housing market are returning to the traditional basics of local demand, supply and financial considerations. Whether in Nebraska or South Carolina, what these hottest markets seem to share are big-city amenities without the high housing costs of MSAs closer to the megacities along the West and East coasts.

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Source and Full Report – U.S. News and World Report Real Estate

Combination creates global platform within the growing sports retail industry, positioned to serve evolving needs of a broader range of consumers

Poised to drive long-term success through innovative store concepts and digital experiences

Foot Locker shareholders can elect to receive either $24.00 in cash or 0.1168 shares of DICK’S Sporting Goods common stock for each share of Foot Locker common stock

Transaction expected to be accretive to DICK’S Sporting Goods EPS in the first full fiscal year post-close (excludes one-time costs)

PITTSBURGH and NEW YORK/PRNewswire/ — DICK’S Sporting Goods, Inc. (“DICK’S”) (NYSE: DKS), a leading U.S. based full-line omni-channel sporting goods retailer, and Foot Locker, Inc. (“Foot Locker”) (NYSE: FL), a leading footwear and apparel retailer, today announced that they have entered into a definitive merger agreement under which DICK’S will acquire Foot Locker. This transaction implies an equity value of approximately $2.4 billion and an enterprise value of approximately $2.5 billion.

Foot Locker has a strong history of sneaker expertise that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. It encompasses approximately 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand, and a licensed store presence in Europe, the Middle East and Asia. In 2024, Foot Locker achieved net worldwide sales of $8 billion. DICK’S expects to operate Foot Locker as a standalone business unit within its portfolio and maintain the Foot Locker brands. 

“We have long admired the cultural significance and brand equity that Foot Locker and its dedicated Stripers have built within the communities they serve,” said Ed Stack, Executive Chairman of DICK’S. “We believe there is meaningful opportunity for growth ahead. By applying our operational expertise to this iconic business, we see a clear path to further unlocking growth and enhancing Foot Locker’s position in the industry. Together, we will leverage the complementary strengths of both organizations to better serve the broad and evolving needs of global sports retail consumers.”

“We look forward to welcoming Foot Locker’s talented team and building upon their expertise and passion for their business, which we intend to honor and amplify together,” said Lauren Hobart, President and CEO of DICK’S. “Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases.”

“Today’s announcement marks the start of an exciting new chapter for Foot Locker and is a testament to our team’s hard work and dedication to our mission,” said Mary Dillon, CEO of Foot Locker. “By joining forces with DICK’S, Foot Locker will be even better positioned to expand sneaker culture, elevate the omnichannel experience for our customers and brand partners, and enhance our position in the industry. We are pleased to provide shareholders with a transaction structure that offers the choice of significant and immediate cash value or the opportunity to invest in the combined company and benefit from the substantial upside potential. I am proud of all that our teams around the world, including our Stripers, have accomplished to reach this milestone moment, and am confident this transaction represents the best path for our shareholders and other stakeholders.”

The proposed acquisition represents an important strategic milestone for DICK’S whereby the combined company offers significant strategic and financial benefits:

• Create a global platform within the growing sports retail industry. The transaction will better position the combined company to serve consumers worldwide and expands DICK’S addressable market opportunity. By combining with Foot Locker, DICK’S will be poised to serve consumers not only in new locations in the U.S. through Foot Locker’s complementary real estate portfolio, but also internationally for the first time. With strong long-term industry tailwinds, the combined company is well positioned for long-term growth.
• Serve a broader set of consumers across differentiated concepts. Iconic concepts will cater to a broad spectrum of consumers, from performance-focused athletes to sneakerheads. Building upon the groundbreaking learnings from DICK’S House of Sport and Foot Locker’s Reimagined Concept stores, the combined company will provide an unmatched immersive and innovative retail experience for consumers. 
• Strengthen relationships with brand partners through global reach. Together, DICK’S and Foot Locker will serve as a stronger partner for key brands, offering multiple platforms for both established and emerging partners to showcase their assortments, connect with athletes and increase visibility on a global level. 
• Invest in future growth through an industry-leading omnichannel experience. DICK’S has a history of strong growth and aims to invest in and grow the Foot Locker brand and position the combined company for long-term success. The combination will drive growth through differentiated store concepts and robust digital experiences to enable sustainable long-term profitable growth.
• Unlock operational efficiencies that create shareholder value. DICK’S expects the transaction to be accretive to EPS in the first full fiscal year post-close (excludes transaction and other one-time costs to achieve synergies) and to deliver between $100 to $125 million in cost synergies in the medium-term achieved through procurement and direct sourcing efficiencies.

Additional Transaction Details

Under the terms of the merger agreement, which has been unanimously approved by the boards of directors of DICK’S and Foot Locker, Foot Locker shareholders will elect to receive either (i) $24.00 in cash or (ii) 0.1168 shares of DICK’S common stock for each share of Foot Locker common stock. The election is not subject to a minimum or maximum amount of cash or stock consideration.

Based on the closing price of Foot Locker common stock on 5/14/2025, the $24.00 per-share consideration represents a premium of approximately 66% to Foot Locker’s 60-trading day volume weighted average price. The total consideration represents an acquisition multiple of approximately 6.1x fiscal 2024 adjusted EBITDA.

DICK’S intends to finance the acquisition through a combination of cash-on-hand and new debt.

The transaction 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.

Goldman Sachs is serving as financial advisor to DICK’S and provided fully committed bridge financing. Wachtell, Lipton, Rosen & Katz is serving as DICK’S legal advisor. Evercore is serving as financial advisor to Foot Locker, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as Foot Locker’s legal advisor.

About DICK’S Sporting Goods

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 omnichannel 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.

About Foot Locker

Foot Locker, Inc. is a leading footwear and apparel retailer that unlocks the “inner sneakerhead” in all of us. With approximately 2,400 retail stores in 20 countries across North America, Europe, Asia, Australia, and New Zealand, and a licensed store presence in Europe, the Middle East and Asia, Foot Locker has a strong history of sneaker authority that sparks discovery and ignites the power of sneaker culture through its portfolio of brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.

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