Dicks Sporting Goods Inc
Q1 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.26%.
Did DKS Beat Earnings? Q1 2026 Results
DICK'S Sporting Goods delivered a mixed first quarter for fiscal 2026, posting non-GAAP EPS of $2.90 against a consensus estimate of $2.91, a narrow 0.20% miss, while revenue of $5.16 billion topped expectations by 1.95% and surged 62.7% year-over-year. The headline growth story was almost entirely structural: the September 2025 acquisition of Foot Locker contributed $1.79 billion in net sales to the consolidated top line, while the legacy DICK'S business independently generated $3.38 billion with a 6.0% comparable sales gain. Gross margin compressed to 32.59% from 36.70% a year earlier, reflecting the lower-margin Foot Locker mix and $42.73 million in acquisition-related inventory write-downs, which weighed heavily on the bottom line. Some institutional investors have trimmed their positions ahead of and following the print, though analysts broadly maintain a moderate buy consensus on the stock. Looking ahead, management raised the low end of comparable sales guidance for both segments and lifted consolidated non-GAAP operating income guidance to $1.71 billion to $1.83 billion, with full-year non-GAAP EPS maintained at $13.50 to $14.50.
- DICK'S Business delivered 6.0% comp sales growth with growth in average ticket and transactions
- Broad-based strength across footwear, apparel, and hardlines
- Foot Locker Business returned to positive comp sales (+0.6%) and profitability
- Fast Break store remodel initiative delivering double-digit comps and merchandise margin improvement
- Strong consumer engagement driven by sports category momentum
- Continued market share gains in the DICK'S Business
“We're very proud of our company's Q1 results. Sport is driving sustained energy and engagement across the consumer landscape, and our team turned that athlete demand into another very strong quarter of execution. 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. 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.”
Dick's Sporting Goods CEO, on the earnings call
Forward Guidance & Outlook
The company raised the low end of full-year 2026 comparable sales guidance for both businesses: DICK'S Business now expects 2.5% to 4.0% (up from 2.0% to 4.0%), and Foot Locker Business now expects 1.5% to 3.0% (up from 1.0% to 3.0%). Consolidated net sales are expected at $22.1 billion to $22.4 billion. Consolidated GAAP operating income guidance was updated to $1.69 billion to $1.81 billion (from $1.71 billion to $1.83 billion previously), while non-GAAP operating income guidance was raised to $1.71 billion to $1.83 billion (from $1.68 billion to $1.81 billion). GAAP EPS guidance was updated to $13.27 to $14.27 (from $13.70 to $14.70), and non-GAAP EPS guidance was maintained at $13.50 to $14.50. The DICK'S Business segment outlook calls for net sales of $14.5 billion to $14.7 billion and segment profit of $1.60 billion to $1.68 billion. The Foot Locker Business segment outlook calls for net sales of $7.6 billion to $7.7 billion and segment profit of $110 million to $150 million. Gross capital expenditures are expected at approximately $1.6 billion. Foot Locker acquisition-related pre-tax charges are expected to total $200 million in fiscal 2026, with remaining charges incurred over the medium term.
DKS YoY Financials
DKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.