Dick’s Sporting Goods cut guidance after second-quarter results missed Wall Street estimates.
Why it matters: The selloff is a sharp signal on discretionary spending and markdown pressure in athletic footwear. It also shows how the Foot Locker deal is affecting results as Dick’s integrates the business.
- DICK’S reported fiscal second-quarter 2026 net sales of $5.587 billion and GAAP EPS of $3.50 on Aug. 25.
- The company said DICK’S comparable sales rose 4.9%, while Foot Locker pro forma comparable sales fell 3.6%.
- DICK’S cut full-year 2026 guidance to $21.9 billion-$22.2 billion in net sales and $11.00-$12.00 in non-GAAP EPS.
- Reuters reported DICK’S shares fell about 25.9% after the release and guidance cut.
DICK’S Sporting Goods said second-quarter results were pressured by a more promotional athletic footwear and apparel market, and it cut full-year guidance after the report. The company posted fiscal Q2 2026 net sales of $5.587 billion and GAAP EPS of $3.50 for the quarter ended Aug. 1, 2026, according to its earnings release.
Management said the footwear market became increasingly promotional as the quarter progressed. Executive Chairman Ed Stack said the environment hit the Foot Locker business more heavily because of its greater exposure to legacy silhouettes, launches and retro product.
The company’s core DICK’S business remained stronger, with comparable sales up 4.9% in the quarter. But Foot Locker pro forma comparable sales declined 3.6%, weighing on consolidated results after the acquisition closed in September 2025.
DICK’S lowered its full-year 2026 outlook to net sales of $21.9 billion-$22.2 billion and non-GAAP EPS of $11.00-$12.00. The company also reported inventories of $5.565 billion and cash and cash equivalents of $914 million on Aug. 1, 2026.
The company said it operated 3,104 store locations across the DICK’S and Foot Locker businesses as of that date. Reuters reported the stock fell about 25.9% on Aug. 25 after the earnings release and guidance cut.
By the numbers
- $5.587 billion - DICK’S consolidated net sales in fiscal Q2 2026
- 4.9% - comparable sales growth for the DICK’S business
- 3.6% - pro forma comparable sales decline for Foot Locker
Yes, but: The core DICK’S business still grew comparable sales, so the weakness was not uniform across the company.