Dick’s Sporting Goods reported mixed results in its second quarter, with comparable sales increasing by 4.9 per cent which was driven by broad-based growth across multiple categories.
The company’s net sales surged by 53.2 per cent year-on-year to $5.6bn and were boosted by strong results from the 2026 FIFA World Cup and growth in average transactions.
However, Dick’s Sporting Goods’ net income declined by 17 per cent to $315m compared to $381m in the year prior.
The company’s earnings per diluted share (EPS) went down by 26 per cent to $3.50 in comparison to $4.71 last year.
The Foot Locker business decreased by 3.6 per cent, which was affected by challenging market conditions within the athletic footwear industry.
Moving forward, the company has lowered its future outlook for the Foot Locker business based on its weak second quarter performance.
Ed Stack, executive chairman of Dick’s Sporting Goods said: ” As the quarter progressed, conditions across portions of the athletic footwear and apparel marketplace became increasingly promotional, and we took action to remain competitively priced to protect and grow our leadership position.
“This environment had a more significant impact on the Foot Locker business given its greater exposure to legacy footwear silhouettes and greater dependence on footwear launches and retro products.
“Not only were there fewer launches in the second quarter, but those launches also performed below both industry and our expectations. As a result, we are taking a more cautious view of the balance of the year.”
The business predicted that the Foot Locker will have a decline in its full-year comparable sales of between 2 per cent and flat.
The current outlook for Dick’s comparable sales was maintained within the range of 2.5 per cent to 4 per cent growth.
Due to the ongoing softness in the consumer market, the business lowered the operating income outlook for both Dick’s and Foot Locker divisions.
Dick’s Sporting Goods now expects a full-year operating income of between $1.45bn and $1.55bn and predicted annual net sales of between $21.9bn and $22.2bn.
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