Dicks Sporting Goods Misses Q2 Revenue and Lowers Guidance

Dick's Sporting Goods reported second-quarter net sales of $5.59 billion for the period ended Aug. 1, 2026, missing Wall Street expectations due to a challenging athletic footwear and apparel market, as reported by CNBC and Quiver Quantitative.

Although total sales increased from $3.65 billion in the prior-year period, net income declined to $315.5 million, or $3.50 per share, down from $381.4 million, or $4.71 per share, a year earlier. Adjusted earnings per share reached $3.53, missing Wall Street's expected revenue target of $5.65 billion.

Core Dick's store locations achieved a 4.9% increase in comparable sales, propelled by broad-based growth across product categories and strong demand during the World Cup. However, the performance was dragged down by Foot Locker, which saw comparable store sales fall by 3.6% during the quarter.

Following the weak Foot Locker performance, corporate executives lowered the full-year net sales forecast to a range between $21.9 billion and $22.2 billion, down from the previous projection of $22.1 billion to $22.4 billion. Consolidated operating income expectations were also reduced to between $1.45 billion and $1.55 billion, while full-year GAAP diluted earnings per share are now projected at $10.94 to $11.94.

The company continues to pursue a turn-around strategy for Foot Locker after acquiring the business for $2.4 billion in 2025 to expand internationally. Despite the current headwinds, the board declared a quarterly dividend of $1.25 per share, payable Sept. 25, 2026, while benefiting from $59 million in tariff refunds and $2.1 million in interest income during the quarter.

"While we are taking a more cautious view of the balance of the year, we remain highly confident in the strength of the DICK'S Business and our long-term opportunity at Foot Locker," said Lauren Hobart, CEO of Dick's Sporting Goods.

Market disclosures show insider trading activity over the past six months, with company executives completing nine open-market stock sales and zero purchases. Executive Chairman Edward W. Stack sold 210,478 shares, while Chief Executive Officer Lauren R. Hobart sold 20,083 shares over the same period.