Dick’s Sporting Goods (NYSE:DKS) on Tuesday reported worse-than-expected second-quarter financial results.
Dick’s Sporting Goods reported quarterly earnings of $3.53 per share which missed the analyst consensus estimate of $3.77 per share. The company reported quarterly sales of $5.587 billion which missed the analyst consensus estimate of $5.650 billion.
DICK’S lowered fiscal 2026 adjusted earnings guidance to $11-$12 per share from $13.50-$14.50. The revised range is below the $14.22 estimate. The retailer cut its sales forecast to $21.9 billion-$22.2 billion from $22.1 billion-$22.4 billion. Analysts expect $22.36 billion.
“The DICK’S Business delivered a strong second quarter with broad-based growth across categories. 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 launch and retro product. Not only were there fewer launches in the second quarter, but those launches performed below both industry and our expectations. As a result, we are taking a more cautious view of the balance of the year. While these near-term dynamics have led us to revise our expectations for 2026, our confidence in the long-term opportunities ahead for both DICK’S and Foot Locker remains unchanged," said Ed Stack, Executive Chairman.
