Sen. Elizabeth Warren (D-Mass.) on Monday blamed the Justice Department under President Donald Trump for allowing Dick's Sporting Goods to acquire Foot Locker, calling the merger "one possible reason" shoe prices are up 15% heading into the holiday season.
Warren Links DOJ Merger To Rising Shoe Prices
"Shoe prices are up 15% heading into the holiday season. One possible reason why? Trump's Justice Department greenlit DICK'S Sporting Goods taking over Foot Locker. Now, stores are closing and American shoppers are getting the boot," Warren wrote on X.
Dick's completed its roughly $2.4 billion purchase of Foot Locker in September, after U.S. antitrust enforcers let the mandatory waiting period expire without a court challenge, Reuters reported.
Warren had urged the Federal Trade Commission and the Justice Department in August to consider blocking the deal, warning in a letter that combining two of the country's largest athletic footwear retailers could "raise prices for families already facing higher sneaker costs," cut jobs, and squeeze small businesses.
Data Highlights Double-Digit Jump In Footwear Costs
The 15% jump Warren cites aligns with data from intelligence platform Competitoor, which found average footwear prices rose 15 percent in the year ending Sept. 5. PwC's 2025 Holiday Outlook survey, released in September, projected a 7 to 10% drop in footwear spending this season as higher prices force consumers to cut back.
Senator Expands Attack To Tariffs And Consolidation
Warren has previously spotlighted the role of tariffs in pushing up consumer bills and more broadly, become one of the most vocal Democrats accusing corporations of "price gouging" and "shrinkflation," pressing the FTC to investigate whether companies are using Trump's "chaotic tariffs" and other economic shocks as cover to pad margins.
In a separate post on Monday, Warren flagged Paramount Skydance Corp.’s (NASDAQ:PSKY) decision to launch a hostile all-cash bid to acquire Warner Bros Discovery Inc. (NASDAQ:WBD), in a deal valued at $108.4 billion. Donald Trump echoed a similar sentiment regarding the deal on Sunday, saying that the merged company would command a "very big market share," which he thinks "could be a problem."
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