Dick's Sporting Goods (DKS) earnings Q1 2026

Key Points:

• Dick's Sporting Goods reported an earnings miss for the quarter ended May 2, largely due to $96.5 million in acquisition-related charges from its purchase of Foot Locker, including severance, store closings, and inventory clearance.
• Foot Locker showed modest recovery with a 0.6% comparable sales increase, its first growth since fiscal 2024, while Dick's own stores saw a 6% comparable sales rise, resulting in combined growth of 4.1%.
• Despite revenue surpassing expectations at $5.17 billion, adjusted earnings per share were slightly below forecasts at $2.90 versus $2.92 expected, causing shares to drop nearly 2% in premarket trading.
• Dick's updated its 2026 guidance, raising comparable sales growth projections for both Dick's and Foot Locker but lowering consolidated operating income and earnings per share estimates due to ongoing turnaround costs.
• The company is expanding its "Fast Break" pilot program to 250 Foot Locker stores by back-to-school season, aiming to improve sales and margins through new product assortments and store formats across its 2,483 global Foot Locker-related locations.