A Dick’s Sporting Goods retail store is seen on May 15, 2025 in Austin, Texas. Brandon Bell | Getty Images Dick’s Sporting Goods on Tuesday reported quarterly earnings that missed Wall Street expectations and lowered its outlook for Foot Locker amid what it called a “challenging athletic footwear and apparel market.” However, Dick’s said Foot Locker saw a decline in comparable sales of 3.6%, prompting the company to revise its outlook for the Foot Locker business to a range of stable to 2%. It still expects Dick’s business to grow between 2.5% and 4%, but the company lowered its overall net sales outlook for the year from a range of $22.1 billion to $22.4 billion to a range of $21.9 billion to $22.2 billion. The company lowered its outlook for consolidated operating income from a previous range of $1.69 billion to $1.81 billion to a range of $1.45 billion to $1.55 billion. Here’s how Dick’s performed in its fiscal second quarter compared to what Wall Street expected, according to a survey of analysts by LSEG: Earnings per share: Adjusted $3.53 vs. $3.76 expected Revenue: $5.59 billion vs. $5.65 billion expected. For the period ended Aug. 1, Dick’s reported net income of $315 million, or $3.50 per share, down from $381 million, or $4.71 per share, a year earlier. Adjusting for one-time items, including its acquisition of Foot Locker, Dick’s reported $3.53 per share. Sales rose to $5.59 billion from $3.65 billion in the same period a year earlier. “While we are taking a more cautious view of the balance of the year, we remain very confident in the strength of the DICK’S business and our long-term opportunity at Foot Locker,” CEO Lauren Hobart said in a statement. The company also said it received $59 million in fee refunds during the quarter and $2.1 million in related interest income. The gains come as Dick’s is in the midst of implementing a turnaround for Foot Locker, which has previously hurt the company’s results. Dick’s has tried to refine Foot Locker’s strategy to return to growth, especially at a time when activewear is booming. Dick’s acquired Foot Locker for $2.4 billion in 2025, saying at the time that it planned to use the deal to expand its international presence and better position itself against its competitors. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
