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- Aug 25, 202690% CONFIDENCEfrom the source
Dick's Cuts Its Outlook as Foot Locker Sneaker Sales Slump, Shares Drop 31%
- Dick's second-quarter net sales rose 53.2% to $5,587 million with Foot Locker included, but EPS fell to $3.50 ($3.53 non-GAAP) from $4.71[1]
- Foot Locker Business proforma comparable sales fell 3.6%; Executive Chairman Ed Stack said fewer sneaker launches came out in the quarter and 'those launches performed below both industry and our expectations', while legacy silhouettes and retro product faced heavy discounting[1]
- The core DICK'S Business grew comparable sales 4.9%, helped by the 2026 FIFA World Cup[1]
- Full-year outlook: EPS of $10.94-$11.94, Foot Locker comps of -2.0% to 0.0%, and a Foot Locker segment loss of $40-$80 million on $7.4-$7.5 billion of sales[1]
- 67 Foot Locker stores are to close in fiscal 2026 under the review of unproductive assets[1]
- The shares fell 30.7% to $124.31 that day; analysts had expected $5.64 billion of sales and $3.76 of adjusted EPS[2]; Nike, Adidas, Puma and On also slipped[3]
References 385% CONFIDENCE
The first entry is always the pin's source. Overall confidence is a weighted average of how firmly each reference supports the start and end times used above; a reference counts half as much for every 180 days older than the newest.
- [1]90%sec.gov/Archives/edgar/data/1089063/000108906326000033/dks-2026801xex991earningsr.htmsec.gov· Posted Sep 27, 2026· Starts Aug 25, 2026 ✓· 36% of score
The release is datelined 'PITTSBURGH, August 25, 2026' and says the company 'will host a conference call today at 8:00 a.m. Eastern Time'; the 8-K was accepted by EDGAR at 07:01 ET.
- [2]85%Dick's Joins Barrage of Footwear Companies Grappling With Dramatic Stock Reactionswwd.com· Published Aug 26, 2026· 32% of score
Shares dropped 30.7% on Tuesday to close at $124.31 from $179.33; analysts expected sales of $5.64 billion and adjusted EPS of $3.76.[1]
- [3]80%Dick's Sporting cuts forecasts as weak sneaker demand trips Foot Locker, shares plunge (Reuters)aol.com· Published Aug 25, 2026· 32% of score
Reuters: bloated inventory and heavy discounting in legacy footwear weighed on Foot Locker; Nike fell 3.3% and Adidas, Puma and On 1.5-2.5% in early trading; Dick's received $59 million in tariff refunds.[1]
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