DICK'S Cuts FY26 Outlook as Foot Locker Comps Fall 3.6%; Q2 EPS Misses
DKS is trading near its 52-week low of $175.65 (7.5% below the low) on elevated volume (2.8× avg).
Summary
DICK'S reported Q2 EPS of $3.50 (non-GAAP $3.53) and cut full-year 2026 guidance as Foot Locker proforma comps fell 3.6% amid a promotional athletic footwear market. The DICK'S core business grew comps 4.9%.
Key Events · Earnings and Guidance · DKS
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Q2 EPS Misses Prior Year
GAAP EPS of $3.50 vs $4.71 a year ago; non-GAAP EPS of $3.53 vs $4.38. Net sales rose 53% to $5.587B on the Foot Locker acquisition, but operating margin fell 451 bps to 7.9%.
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Foot Locker Comps Decline 3.6%
Proforma Foot Locker comparable sales fell 3.6% in Q2, driven by fewer footwear launches and below-expectation launch performance. DICK'S Business comps rose 4.9%.
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Full-Year 2026 Guidance Cut
Foot Locker proforma comp outlook lowered to -2.0% to 0.0% (from prior range). Operating income outlook lowered for both DICK'S and Foot Locker segments. Consolidated EPS guidance set at $10.94-$11.94 GAAP, $11.00-$12.00 non-GAAP.
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Quarterly Dividend Maintained
Board declared $1.25 per share quarterly dividend, payable September 25, 2026 to holders of record September 11, 2026.
Analysis · DKS · Trade & Services
DICK'S delivered a strong core quarter — DICK'S Business comps rose 4.9% — but the Foot Locker acquisition is dragging harder than expected. Foot Locker proforma comps fell 3.6% in Q2, and management cut the full-year Foot Locker comp outlook to negative 2.0% to 0.0% while also lowering operating income guidance for both segments. GAAP EPS of $3.50 missed the prior-year $4.71, and non-GAAP EPS of $3.53 fell 19% year over year. The stock is trading near its 52-week low, so this guidance cut lands on an already fragile tape. The $1.25 quarterly dividend was maintained, which is a modest offset.
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At the time of this filing, DKS was trading at $162.50 on NYSE in the Trade & Services sector, with a market capitalization of approximately $16.1B. The 52-week trading range was $175.65 to $244.38. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.