Dick’s Sporting Goods reported stronger-than-expected first-quarter sales as its core Dick’s business continued to gain momentum and newly acquired Foot Locker returned to comparable sales growth.
The sporting goods retailer said comparable sales at Foot Locker rose 0.6% during the quarter, marking the banner’s first comp increase since the fourth quarter of 2024. Foot Locker U.S. delivered a 6.4% comparable sales increase.
Dick’s acquired Foot Locker in September 2025 and has since rolled out a new capital-light remodel initiative known as “Fast Break”.
The program includes redesigned footwear walls, updated merchandising displays and the reintroduction of curated apparel assortments.
Speaking on the company’s earnings call, executive chairman Ed Stack said the remodels are producing “exceptional” results, including double-digit comparable sales growth and improved merchandise margins.
“By back to school, we plan to have approximately 250 Fast Break stores across Foot Locker, Kids Foot Locker, and Champs globally, with further expansion ahead of the holiday season,” he told analysts.
Stack added that Dick’s is preparing a “bold” relaunch of the Foot Locker brand aimed at reconnecting with shoppers.
He also pointed to continued strength in the wider sports market.
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“We’re in the middle of a real sports moment, and the intersection of sport and culture has never been stronger,” Stack said. “You see it everywhere, from rising valuations of professional sports teams, to the level of investment from streaming platforms and networks, and the strong demand from advertisers to be a part of live sports.”
President and CEO Lauren Hobart said Dick’s continued to invest in its store portfolio and remains on track to open around 13 House of Sport locations and 20 Field House stores this year.
“We also continue to see extremely strong interest from landlords, giving us access to some truly iconic retail locations,” Hobart said.
For the quarter ended May 2, net income rose to $319.8 million, or $3.54 per share, compared with $264.3 million, or $3.24 per share, a year earlier. Adjusted earnings came in at $2.90 per share.
Consolidated net sales increased 62.7% to $5.17 billion, boosted by the addition of Foot Locker, and ahead of analyst expectations of $5.09 billion.
The Dick’s business, which includes Dick’s Sporting Goods, Golf Galaxy, Going Going Gone! and Public Lands, generated net sales of $3.4 billion, up from $3.2 billion a year earlier. Comparable sales for the division increased 6%.
The Foot Locker business, which includes Foot Locker, Kids Foot Locker, Champs Sports, WSS and Atmos, delivered net sales of $1.8 billion.
“In Q1, we delivered comp sales growth of 6% in the Dick’s Business, with growth in average ticket and transactions, and broad-based strength across footwear, apparel and hardlines,” Hobart said.
“These strong comps were on top of a 4.5% increase last year and a 5.3% increase in 2024, as we continued to gain market share. Given our continued confidence in the Dick’s Business, we are raising our full-year expectations for comp sales growth and profitability.”
Looking ahead, the retailer expects fiscal 2026 net sales between $22.1 billion and $22.4 billion, with earnings per share forecast between $13.27 and $14.27.
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