Dick's Sporting Goods trims outlook as Foot Locker sales slump

The company reported quarterly revenue of $5.59 billion, trailing the $5.65 billion forecast by Wall Street analysts. Despite achieving 4.9% comparable sales growth within its namesake stores—bolstered by strong World Cup-related demand—the overall bottom line suffered. Net income for the period ending August 1 dropped to $315 million, or $3.50 per share, down from $381 million in the previous year.

CEO Lauren Hobart acknowledged a more cautious outlook for the remainder of the year while maintaining confidence in the long-term strategy for the Foot Locker segment. Dick's acquired Foot Locker for $2.4 billion in 2025 to bolster its international reach, yet the division remains a drag on consolidated operating income. The company has consequently slashed its operating income guidance to a range between $1.45 billion and $1.55 billion, down from its earlier projections of up to $1.81 billion. Amid these headwinds, the retailer recorded $59 million in tariff refunds, providing a slight offset to the broader market challenges affecting the athletic footwear and apparel sector.