Dick's Sporting Goods reports mixed Q2 results amidst Foot Locker integration

US-based sports retailer Dick’s Sporting Goods reported its financial results for the second quarter ended August 1, 2026. Consolidated net sales rose 53.2 percent to 5.59 billion dollars compared to 3.65 billion dollars in the prior year period, primarily reflecting the acquisition of Foot Locker. However, net income for the second quarter declined to 315.46 million dollars, down from 381.40 million dollars in the same period last year.

"Our Q2 results reflect the strength of our athlete-focused strategy, broad differentiated assortment, strong brand partnerships and continued focus on profitable growth opportunities such as House of Sport, GameChanger and DICK'S Media Network. We invested significantly around the FIFA World Cup, and our team delivered outstanding results," said Lauren Hobart, the company's president and chief executive officer. "While we are taking a more cautious view of the balance of the year, we remain highly confident in the strength of the DICK'S Business and our long-term opportunity at Foot Locker."

Segment performance and asset optimization

The main Dick's Sporting Goods business recorded a 4.9 percent increase in comparable sales (comp sales), driven by growth across categories, strong engagement surrounding the 2026 FIFA World Cup, and increases in both average ticket and transaction volume. In contrast, proforma comp sales for the Foot Locker business fell 3.6 percent, dragged down by weak demand for legacy footwear silhouettes and fewer product launches performing below industry expectations.

For the 13-week period, net sales for the Dick's Sporting Goods banner reached 3.85 billion dollars with a segment profit of 485.20 million dollars. The Foot Locker division contributed 1.74 billion dollars in net sales but generated a segment loss of 31.88 million dollars.

To streamline operations following the acquisition, Dick's Sporting Goods initiated a review of unproductive assets within Foot Locker. During the first 26 weeks of the fiscal year, 110 stores in the Foot Locker network were closed, bringing the total store count for that segment down to 2,478.

Updated guidance for fiscal 2026

Given the persistent softness across portions of the athletic footwear and apparel marketplace, Dick's Sporting Goods lowered its full-year expectations.

Consolidated net sales are expected between 21.90 billion dollars and 22.20 billion dollars. Dick's Sporting Goods comp sales are maintained at positive 2.5 percent to positive 4 percent.

Foot Locker proforma comp sales are revised downward to negative 2 percent.

Segment profit guidance is projected at 1.54 billion dollars to 1.60 billion dollars for Dick's Sporting Goods, and a loss of 80 million dollars to 40 million dollars for Foot Locker. Non-GAAP diluted EPS is projected to range between 11 dollars and 12 dollars.

Executive chairman Ed Stack noted that while promotional activity in the footwear sector led to a more cautious view for the remainder of the year, confidence in the long-term opportunities for both business banners remains unchanged.