The retail landscape is littered with failed mega-mergers, but that's not stopping Dick's Sporting Goods from trying its own hand at a big deal. The company announced on Thursday that it was buying the long-suffering Foot Locker retail chain for $2.

Jefferies weighed in on the implications for Academy Sports and Outdoors (NASDAQ:ASO) of the merger between Dick's Sporting Goods (DKS) and Foot Locker. While the enhanced buying power from Nike (NKE) for Dick's (DKS) with Foot Locker (FL) in its portfolio was noted,

Foot Locker owns Kids Foot Locker, Champs Sports, WSS, and atmos, and has 2,400 stores in 20 countries, including North America, Europe, and Asia.