$WMT & $DKS: Dick's Sporting Goods to buy e-commerce outdoor retailer Moosejaw from Walmart

Dick’s Sporting Goods has agreed to buy outdoor retailer Moosejaw from Walmart in a bid to take share in the multibillion-dollar outdoor market.

The cost of the deal, which is expected to close in March, was not disclosed. Walmart purchased Moosejaw for $51 million in February 2017 under then-e-commerce President Marc Lore.

The acquisition, a rare move for Dick’s, could help the retailer grow its presence in the outdoor market and develop its e-commerce footprint after its 2021 launch of Public Lands, which has a stronger brick-and-mortar focus.

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