Dick's Sporting Goods Reports Missed Earnings, Foot Locker Performance Drags Down Outlook
Dick's Sporting Goods reported fiscal second-quarter earnings that missed Wall Street expectations due to a challenging footwear and apparel market. While Dick's stores saw 4.9% comparable sales growth driven by strong performance during the World Cup, its subsidiary Foot Locker experienced a 3.6% decline in comparable sales. As a result, Dick’s lowered its full-year outlook for Foot Locker to flat or down 2%, while maintaining expectations of 2.5%-4% growth for the main DICK'S business. The company also reduced its overall net sales and operating income forecasts for the year due to weaker-than-expected performance at Foot Locker, which it acquired in 2025 for $2.4 billion with plans to expand internationally. Dick's stock fell by 30% following the report — marking one of its worst days since 2023.
Topics: financial_performance retail sports_goods