Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the sector’s second buyout of a major footwear company in as many weeks.

Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the Foot Locker brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.

Earlier this month, Skechers announced it was being taken private by the investment firm 3G Capital in a transaction worth more than $9 billion.

Foot Locker’s stock has plunged 41% this year. It is also facing pressure elsewhere, with major athletic companies like Nike and Adidas shifting their sales strategies.

Skechers had fallen almost 8% this year. — Associated Press