DICK'S Sporting Goods Reports 53.2% Revenue Growth to $5.59 Billion in Latest Quarter

DICK'S Sporting Goods, Inc. reported significant financial growth in its latest quarterly results, with net sales reaching $5.59 billion for the 13 weeks ended August 1, 2026, a 53.2% increase from $3.65 billion in the same period last year. This surge includes $1.74 billion in sales from the recently acquired Foot Locker business, which contributed to a 4.9% increase in comparable sales for DICK'S core operations. The company's gross profit also rose to $1.94 billion, up from $1.35 billion, although the gross margin percentage decreased by 228 basis points, primarily due to lower margins in the Foot Locker segment.

In terms of profitability, DICK'S reported a net income of $315.5 million, or $3.50 per diluted share, compared to $381.4 million, or $4.71 per diluted share, in the prior year. The decline in earnings was attributed to $22 million in acquisition-related charges from the Foot Locker integration and $11.4 million in costs associated with redesigning the store operating model. The company also benefited from $30.3 million in IEEPA tariff refunds, which positively impacted its financial results.

The acquisition of Foot Locker, completed on September 8, 2025, has been a transformative move for DICK'S, allowing it to expand its market presence significantly. The Foot Locker segment reported net sales of $1.74 billion for the quarter, although it incurred a segment loss of $31.9 million. DICK'S has initiated a Fast Break initiative to enhance merchandise presentation and assortment, which has been implemented in over 250 stores globally. The company anticipates total acquisition-related charges of up to $750 million, with $515.8 million already incurred.

Operationally, DICK'S has expanded its store count to 3,104 locations across its brands, including DICK'S Sporting Goods, Golf Galaxy, and Foot Locker. The company is focusing on enhancing its omni-channel capabilities and plans to open approximately 14 new DICK'S House of Sport locations in 2026, alongside other store formats. The company’s cash position as of August 1, 2026, was $913.7 million, supported by strong cash flows from operations.

Looking ahead, DICK'S has adjusted its sales and profit outlook for the fiscal year, now expecting total net sales between $21.9 billion and $22.2 billion, with earnings per diluted share projected between $10.94 and $11.94. The company remains cautious due to macroeconomic factors such as inflation and competitive pressures in the retail market, but it is optimistic about the long-term growth potential driven by evolving consumer preferences and upcoming sporting events like the FIFA World Cup and the 2028 Olympics.