If Dick’s Sporting Goods Inc. can turn around Foot Locker Inc. — a feat the footwear chain has struggled with on its own — Nike Inc. stands to emerge as a big winner.

The two sportswear chains announced last week that Dick’s had reached a $2.4 billion deal to acquire Foot Locker, whose slow recovery hasn’t impressed investors. Together, the retailers account for nearly $5 billion — or 10% — of Nike’s revenue, according to a Bloomberg estimate.

A successful tie-up could boost Nike as the company attempts its own comeback effort after a difficult year of lackluster sales and corporate layoffs.

Nike Chief Executive Officer Elliott Hill, who came out of retirement to take the job in October, has been working to revive relationships with his retail partners after previous management shunned

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