DICK'S Sporting Goods Reports 62.7% Revenue Growth to $5.16 Billion in Latest Quarter

DICK'S Sporting Goods, Inc. reported significant financial growth in its latest quarterly results, with net sales reaching $5.16 billion for the 13 weeks ended May 2, 2026, a 62.7% increase from $3.17 billion in the same period last year. This surge includes $1.79 billion in sales from the recently acquired Foot Locker business, which contributed to a 6.0% increase in comparable sales for DICK'S core operations. The company's net income also rose to $319.8 million, or $3.54 per diluted share, compared to $264.3 million, or $3.24 per diluted share, in the prior year.

The financial performance reflects a robust operational strategy, including the integration of Foot Locker, which was acquired for $2.5 billion in September 2025. The acquisition has allowed DICK'S to expand its market presence significantly, with Foot Locker contributing $1.79 billion in net sales during the quarter. The DICK'S business alone saw a 6.4% increase in sales, driven by broad-based growth across footwear, apparel, and hardlines. However, gross profit as a percentage of net sales decreased by 411 basis points, primarily due to inventory write-downs related to the Foot Locker acquisition and lower margins in that segment.

Operationally, DICK'S Sporting Goods has made strategic investments in its store portfolio, including the opening of new DICK'S House of Sport locations and enhancements to existing stores. The company operated 3,115 store locations across both DICK'S and Foot Locker as of May 2, 2026. The Foot Locker segment reported a segment profit of $17.5 million, indicating a positive start for the integration of this new business unit. DICK'S has also initiated a Fast Break initiative to improve merchandise presentation in approximately 100 stores, with plans to expand this to 250 locations by the back-to-school selling period.

Looking ahead, DICK'S has raised its full-year sales outlook, projecting total net sales between $22.1 billion and $22.4 billion for fiscal 2026. The company expects comparable sales growth of 2.5% to 4.0% for its core business and aims to return the Foot Locker segment to profitability, targeting pro forma comparable sales growth of 1.5% to 3.0%. The company anticipates incurring approximately $200 million in acquisition-related costs in fiscal 2026, which will be offset by expected synergies from the Foot Locker integration.

In terms of cash flow, DICK'S reported $276.5 million from operating activities, an increase from $178.0 million in the prior year. The company continues to maintain a strong liquidity position with $998.2 million in cash and cash equivalents as of the end of the reporting period. DICK'S plans to invest approximately $1.4 billion in capital expenditures for fiscal 2026, focusing on store growth, technology enhancements, and supply chain improvements, while also returning value to shareholders through dividends and share repurchases.