If you've noticed your sneaker budget taking a beating lately, Sen. Elizabeth Warren thinks she knows why. The Massachusetts Democrat is calling out the Trump administration's Justice Department for waving through Dick's Sporting Goods' takeover of Foot Locker, arguing the merger is at least partly to blame for shoe prices jumping 15% right when families are trying to shop for the holidays.

The Merger That Went Unchallenged

"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 posted on X Monday.

Dick's wrapped up its roughly $2.4 billion purchase of Foot Locker back in September. U.S. antitrust enforcers simply let the mandatory waiting period expire without mounting a court challenge, effectively giving the deal a green light.

Warren wasn't quiet about her concerns before the merger closed. She urged both the Federal Trade Commission and the Justice Department in August to consider blocking it. Her warning was direct: combining two of the country's largest athletic footwear retailers could "raise prices for families already facing higher sneaker costs," eliminate jobs, and squeeze small businesses caught in the middle.

The Numbers Behind the Price Jump

That 15% figure Warren cites isn't pulled from thin air. Data from intelligence platform Competitoor shows average footwear prices climbed exactly that much in the year ending September 5. Meanwhile, PwC's 2025 Holiday Outlook survey, released in September, projected consumers would slash footwear spending by 7 to 10% this season as higher prices force household budgets to adapt.

A Broader Campaign Against Consolidation

Warren's critique doesn't stop at sneakers. She's become one of the loudest Democratic voices accusing corporations of "price gouging" and "shrinkflation," and she's repeatedly highlighted how tariffs contribute to rising consumer costs. She's pushed the FTC to investigate whether companies are using Trump's "chaotic tariffs" and other economic disruptions as convenient cover to boost their profit margins.

On Monday, Warren also flagged Paramount Skydance Corp. (PSKY)'s move to launch a hostile all-cash bid for Warner Bros Discovery Inc. (WBD) in a deal valued at $108.4 billion. Interestingly, President Trump echoed similar concerns about that deal on Sunday, noting the merged company would control a "very big market share," which he thinks "could be a problem."

The common thread in Warren's messaging is clear: she sees corporate consolidation as a direct threat to consumer wallets, whether it's sneakers at the mall or streaming services at home.