Dick's Sporting Goods Stock Plunges on Weak Earnings and Foot Locker Struggles
Dick's Sporting Goods reported Q2 2026 revenue of $5.59 billion, missing expectations, and cut its full-year outlook due to a challenging athletic footwear market. The company's Foot Locker acquisition, which closed in 2025, dragged down results with a 3.6% comparable sales decline and $515.8 million in restructuring charges. Dick's closed 113 stores, including 110 Foot Locker locations. Shares fell as much as 30.7%, marking the worst single-day drop in three years, as CEO Lauren Hobart cited promotional pressure and excess inventory in the industry.
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Dick's Sporting Goods 30% Stock Plunge Signals Warning for Sportswear Industry
Dick's Sporting Goods shares suffered their worst one-day decline on record, plunging 30.7% to $124.31 after the retailer cut its full-year outlook and warned that a promotional athletic footwear market was hitting sales and margins. The company's $2.4 billion acquisition of Foot Locker is exposing it to the most pressured part of the market, with Foot Locker pro forma comparable sales falling 3.6% and recording a $31.9 million operating loss. CEO Ed Stack noted that brands became increasingly promotional online, spilling discounts into the broader retail market, and that the industry is carrying too much inventory. Legacy footwear silhouettes have slowed quickly, while new launches underperformed. Dick's now expects full-year sales of $21.9-$22.2 billion and adjusted EPS of $11-$12, down from prior guidance. The core Dick's business comparable sales rose 4.9%, but the overall outlook remains cautious due to geopolitical uncertainty and a challenging footwear cycle.
Dick's Sporting Goods closes 113 stores as shares plunge after earnings miss
Dick's Sporting Goods (DKS) has closed 113 stores during fiscal 2026 through the second quarter, including 110 Foot Locker locations and 3 Dick's stores, as part of a restructuring following its $2.5 billion acquisition of Foot Locker in September 2025. The company reported a sharp earnings miss for Q2 2026, with adjusted EPS of $3.53 falling below the expected $3.76. Net sales surged 53.2% to $5.59 billion due to the Foot Locker inclusion, but net income declined 17.3%. Dick's comparable sales rose 4.9%, while Foot Locker comparable sales fell 3.6%. The retailer has incurred $515.8 million in pre-tax charges to date and expects total charges up to $750 million. The disappointing results and lowered outlook sent shares tumbling in one of the company's most dramatic trading sessions.
Dick's Sporting Goods Stock Plunges 22.5% on Q2 Earnings Miss and Outlook Cut
Dick's Sporting Goods shares fell sharply by 22.5% in morning trading following the release of its second-quarter earnings report. The company missed analyst expectations on both revenue and earnings per share (EPS). Additionally, Dick's slashed its full-year sales outlook, signaling weaker future performance. The report also noted that comparable sales at Foot Locker, a key competitor, declined by 3.6%, adding to negative sentiment in the sporting goods retail sector. The stock is on pace for its worst single-day decline in three years, reflecting investor disappointment with the company's financial results and reduced guidance.
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Dick's Sporting Goods Stock Plunges 16% After Cutting Profit Outlook
Dick's Sporting Goods' stock sank over 16% in premarket trading on August 25, 2026, heading for its worst day in three years after the retailer reported weaker-than-expected quarterly earnings and cut its profit outlook. The company cited a 'challenging athletic footwear and apparel marketplace' for the downturn. Quarterly revenue came in at $5.59 billion with earnings per share of $3.53, both below analyst expectations. Comparable sales fell 3.6%, and the company lowered its full-year net sales forecast to between $22.1 billion and $22.4 billion. The results were further pressured by the costly acquisition of Foot Locker last year, which has weighed on the bottom line with nearly $100 million in transaction-related charges. CEO Lauren Hobart expressed confidence in the long-term business despite the cautious near-term outlook. The decline follows a similar drop by JD Sports last week due to weak North America sales.
Dick's Sporting Goods Misses Revenue Expectations, Citing Challenging Footwear Market
Dick's Sporting Goods reported second fiscal quarter revenue of $5.59 billion on Tuesday, missing Wall Street expectations of $5.65 billion, amid what it described as a 'challenging athletic footwear and apparel marketplace.' The company's own stores saw 4.9% comparable sales growth driven by broad-based gains including strong World Cup results. However, its Foot Locker business, acquired for $2.4 billion in 2025, experienced a 3.6% comparable sales decline, prompting Dick's to lower its Foot Locker outlook to flat or down 2%. The company reduced its full-year net sales forecast from $22.1-$22.4 billion to $21.9-$22.2 billion and lowered its operating income outlook from $1.69-$1.81 billion to $1.45-$1.55 billion. Adjusted earnings per share came in at $3.53, down from $4.71 a year earlier. CEO Lauren Hobart expressed confidence in the long-term opportunity at Foot Locker despite taking a more cautious view for the remainder of the year. The company also reported receiving $59 million in tariff refunds during the quarter.