olivLaw · US equity research
DICK'S Sporting Goods, Inc. DKS
Retail-Miscellaneous Shopping Goods Stores · SIC 5940 · Vertical: Miscellaneous retail (SIC 594x)
DICK'S Sporting Goods is a global sporting goods retailer that, after acquiring Foot Locker in September 2025, runs two segments: the DICK'S Business and the Foot Locker Business. It matters now because the two segments are diverging: DICK'S comparable sales grew 4.9% in the second quarter of fiscal 2026, while Foot Locker's proforma comparable sales declined 3.6%, and the company revised its 2026 outlook.
At the close of 05 Nov 2026, DICK'S Sporting Goods, Inc. (DKS) stock was 141.07 USD (−4.46% on the day), with market capitalisation 13.2 bn USD, P/E 15.2 on diluted EPS of 9.31 USD over the last 12 months, dividend yield 3.49%, beta 1.27, 52-week range 121.15–239.17 USD. Latest reported quarter (Q2 2027): revenue of 5.6 bn USD (+53.2% YoY), net income of 315.5 m USD (−17.3% YoY), diluted EPS 3.50 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 49.7
- neutral
- Bollinger (20, 2)
- 134.43 – 148.77
- in the lower half of the band · %B 0.46 · band width 10.1%
- SMA 50 / 200
- 136.20 / 191.24
- mixed trend
- MACD (12, 26, 9)
- 0.63 / 0.40
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.6% | −5.9% | +10.5 pp | — |
| 3 months | −29.0% | −4.6% | −24.4 pp | — |
| 6 months | −36.5% | +0.2% | −36.7 pp | — |
| Year to date | −28.7% | +7.4% | −36.2 pp | — |
| 1 year | −35.6% | +8.2% | −43.8 pp | −25.3% |
| 3 years | +23.2% | +68.4% | −45.2 pp | +21.1% |
| 5 years | +8.8% | +56.5% | −47.7 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2027 · 01 Aug 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | Q2 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.1 bn | 3.9 bn | 3.2 bn | 3.6 bn | 4.2 bn | 6.2 bn | 5.2 bn | 5.6 bn |
| Cost of revenue | 2.0 bn | 2.5 bn | 2.0 bn | 2.3 bn | 2.8 bn | 4.5 bn | 3.5 bn | 3.6 bn |
| Gross profit | 1.1 bn | 1.4 bn | 1.2 bn | 1.4 bn | 1.4 bn | 1.8 bn | 1.7 bn | 1.9 bn |
| SG&A | 790.6 m | 963.6 m | 785.5 m | 878.7 m | 1.1 bn | 1.6 bn | 1.2 bn | 1.4 bn |
| Operating income | 286.0 m | 387.0 m | 366.1 m | 452.2 m | 93.1 m | 184.5 m | 450.7 m | 440.8 m |
| Depreciation & amortisation | 101.1 m | 110.0 m | 97.9 m | 105.7 m | 128.0 m | 157.1 m | 153.8 m | 159.5 m |
| Interest expense | 12.9 m | 12.7 m | 12.1 m | 16.1 m | 18.3 m | 17.7 m | 17.5 m | 17.8 m |
| Pre-tax income | 297.1 m | 397.3 m | 347.7 m | 509.8 m | 104.4 m | 180.0 m | 446.3 m | 438.4 m |
| Income tax | 69.3 m | 97.3 m | 83.4 m | 128.4 m | 29.2 m | 51.7 m | 126.5 m | 123.0 m |
| Net income | 227.8 m | 300.0 m | 264.3 m | 381.4 m | 75.2 m | 128.3 m | 319.8 m | 315.5 m |
| Diluted EPS | 2.75 | 3.62 ≈ | 3.24 | 4.71 | 0.86 | 1.41 ≈ | 3.54 | 3.50 |
| Operating cash flow | 54.2 m ≈ | 631.5 m | 178.0 m | 557.6 m ≈ | -248.4 m ≈ | 1.1 bn | 276.5 m | 515.8 m ≈ |
| Capex | 193.5 m ≈ | 237.0 m | 264.7 m | 261.4 m ≈ | 267.2 m ≈ | 343.9 m | 360.7 m | 382.7 m ≈ |
| Dividends paid | 90.0 m ≈ | 88.6 m | 99.9 m | 96.1 m ≈ | 109.5 m ≈ | 108.3 m | 113.8 m | 110.9 m ≈ |
| Share repurchases | 6.7 m ≈ | 92.8 m | 303.7 m | 0 ≈ | 0 ≈ | 43.5 m | 141.2 m | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 58 percentile of its own 24-quarter history (min 9.9, median 13.9, max 26.7; quarters with earnings only).
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8.4 bn | 8.8 bn | 9.6 bn | 12.3 bn | 12.4 bn | 13.0 bn | 13.4 bn | 17.2 bn |
| Revenue YoY | −1.8% | +3.7% | +9.5% | +28.3% | +0.6% | +5.0% | +3.5% | +28.1% |
| Net income | unavailable | unavailable | unavailable | unavailable | unavailable | 1.0 bn | 1.2 bn | 849.2 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | +11.4% | −27.1% |
| Diluted EPS | 3.24 | 3.34 | 5.72 | 13.87 | 10.78 | 12.18 | 14.05 | 9.97 |
| Diluted EPS YoY | +7.6% | +3.1% | +71.3% | +142.5% | −22.3% | +13.0% | +15.4% | −29.0% |
| net % | unavailable | unavailable | unavailable | unavailable | unavailable | 8.1% | 8.7% | 4.9% |
| Free cash flow | 514.5 m | 187.2 m | 1.3 bn | 1.3 bn | 557.8 m | 939.9 m | 509.3 m | 400.2 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2026 · 31 Jan 2026
- Cash
- 1.4 bn USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 5.5 bn USD
- Total assets
- 17.4 bn USD
- Debt / equity
- unavailable
- Current ratio
- 1.53x
- ROE
- 19.4%
- ROA
- 6.1%
- FCF margin
- 2.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 9.6 bn | 12.3 bn | 12.4 bn | 13.0 bn | 13.4 bn | 17.2 bn | SEC (XBRL)· 27 Mar 2026verified |
| Cost of revenue | 6.5 bn | 7.6 bn | 8.1 bn | 8.5 bn | 8.6 bn | 11.5 bn | SEC (XBRL)· 27 Mar 2026verified |
| Gross profit | 3.1 bn | 4.7 bn | 4.3 bn | 4.5 bn | 4.8 bn | 5.7 bn | SEC (XBRL)· 27 Mar 2026verified |
| SG&A | 2.3 bn | 2.7 bn | 2.8 bn | 3.2 bn | 3.3 bn | 4.3 bn | SEC (XBRL)· 27 Mar 2026verified |
| Operating income | 741.5 m | 2.0 bn | 1.5 bn | 1.3 bn | 1.5 bn | 1.1 bn | SEC (XBRL)· 27 Mar 2026verified |
| Depreciation & amortisation | 326.0 m | 322.6 m | 365.5 m | 393.9 m | 400.4 m | 488.6 m | SEC (XBRL)· 27 Mar 2026verified |
| EBITDA | 1.1 bn ≈ | 2.4 bn ≈ | 1.8 bn ≈ | 1.7 bn ≈ | 1.9 bn ≈ | 1.6 bn ≈ | SEC (XBRL)· 27 Mar 2026derived |
| Interest expense | 48.8 m | 57.8 m | 95.2 m | 58.0 m | 53.0 m | 64.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Pre-tax income | 711.7 m | 2.0 bn | 1.4 bn | 1.3 bn | 1.5 bn | 1.1 bn | SEC (XBRL)· 27 Mar 2026verified |
| Income tax | 181.5 m | 474.6 m | 340.6 m | 271.6 m | 353.7 m | 292.7 m | SEC (XBRL)· 27 Mar 2026verified |
| Net income | — | — | — | 1.0 bn | 1.2 bn | 849.2 m | SEC (XBRL)· 27 Mar 2026verified |
| Diluted EPS | 5.72 | 13.87 | 10.78 | 12.18 | 14.05 | 9.97 | SEC (XBRL)· 27 Mar 2026verified |
| Weighted average diluted shares | 92.6 m | 109.6 m | 99.3 m | 85.9 m | 82.9 m | 85.1 m | SEC (XBRL)· 27 Mar 2026verified |
| Dividend per share | 1.25 | 7.10 | 1.95 | 4.00 | 4.40 | 4.85 | SEC (XBRL)· 27 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.7 bn | 2.6 bn | 1.9 bn | 1.8 bn | 1.7 bn | 1.4 bn | SEC (XBRL)· 27 Mar 2026verified |
| Inventories | 2.0 bn | 2.3 bn | 2.8 bn | 2.8 bn | 3.3 bn | 4.9 bn | SEC (XBRL)· 27 Mar 2026verified |
| Current assets | 3.8 bn | 5.1 bn | 5.0 bn | 4.9 bn | 5.4 bn | 7.1 bn | SEC (XBRL)· 27 Mar 2026verified |
| Property, plant & equipment, net | 1.3 bn | 1.3 bn | 1.3 bn | 1.6 bn | 2.1 bn | 3.5 bn | SEC (XBRL)· 27 Mar 2026verified |
| Goodwill | 245.9 m | 245.9 m | 245.9 m | 245.9 m | 245.9 m | 864.0 m | SEC (XBRL)· 27 Mar 2026verified |
| Intangibles (excl. goodwill) | 90.1 m | 86.8 m | 60.4 m | 56.7 m | 58.6 m | 768.6 m | SEC (XBRL)· 27 Mar 2026verified |
| Total assets | 7.8 bn | 9.0 bn | 9.0 bn | 9.3 bn | 10.5 bn | 17.4 bn | SEC (XBRL)· 27 Mar 2026verified |
| Accounts payable | 1.3 bn | 1.3 bn | 1.2 bn | 1.3 bn | 1.5 bn | 2.0 bn | SEC (XBRL)· 27 Mar 2026verified |
| Current liabilities | 2.6 bn | 2.7 bn | 2.6 bn | 2.8 bn | 3.1 bn | 4.6 bn | SEC (XBRL)· 27 Mar 2026verified |
| Equity | 2.3 bn † | 2.1 bn † | 2.5 bn † | 2.6 bn † | 3.2 bn † | 5.5 bn † | SEC (XBRL)· 27 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.6 bn | 1.6 bn | 921.9 m | 1.5 bn | 1.3 bn | 1.5 bn | SEC (XBRL)· 27 Mar 2026verified |
| Capex | 224.0 m | 308.3 m | 364.1 m | 587.4 m | 802.6 m | 1.1 bn | SEC (XBRL)· 27 Mar 2026verified |
| Free cash flow | 1.3 bn ≈ | 1.3 bn ≈ | 557.8 m ≈ | 939.9 m ≈ | 509.3 m ≈ | 400.2 m ≈ | SEC (XBRL)· 27 Mar 2026derived |
| Investing cash flow | -224.2 m | -344.0 m | -392.9 m | -614.7 m | -796.6 m | -1.1 bn | SEC (XBRL)· 27 Mar 2026verified |
| Financing cash flow | 260.1 m | -287.7 m | -1.2 bn | -1.0 bn | -626.1 m | -821.3 m | SEC (XBRL)· 27 Mar 2026verified |
| Dividends paid | 107.4 m | 603.0 m | 163.1 m | 351.2 m | 361.7 m | 413.9 m | SEC (XBRL)· 27 Mar 2026verified |
| Share repurchases | 0 | 1.1 bn | 458.5 m | 648.6 m | 263.0 m | 347.1 m | SEC (XBRL)· 27 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 39 / 100
A scoring methodology on indicators and valuation, not investment advice.
score < 40 · (margin_of_safety <= -0.25 & agreement in ['high', 'medium'])
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 13.2 bn USD
Key indicators
Coverage and freshness
Score by group
- Quality19
- Growth49
- Balance sheet83
- Returns41
- Valuation19
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 63.73 – 127.12 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E78.78 – 127.12 (Mid 111.16)6 companies used · median multiple 11.9x · quartiles 8.5x – 13.7xASO, BBW, BNED, ELA, HERE, SIG
- Dividend discount (DDM)63.73 – 85.71 (Mid 73.11)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Unattractive profile · Score 39/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 4.0% | 38 (vs peers) | 9% |
| FCF conversion · Quality | 28.5% | 0 (on a fixed band) | 9% |
| Revenue CAGR 3Y · Growth | 11.7% | 97 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | -2.6% | 0 (on a fixed band) | 12% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | 16.4x | 100 (on a fixed band) | 9% |
| Current ratio · Balance sheet | 1.5x | 57 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 15.2x | 17 (vs peers) | 15% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 1.8% | 23 (on a fixed band) | 12% |
| Shareholder yield (distributions) · Returns | 4.7% | 68 (on a fixed band) | 9% |
| Payout ratio (FCF) · Returns | 184.9% | 0 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet83/100 · 2/3 factors with a value
- Growth49/100 · 2/2 factors with a value
- Quality19/100 · 2/3 factors with a value
- Returns41/100 · 2/2 factors with a value
- Valuation19/100 · 2/3 factors with a value
Memo
DICK'S Sporting Goods, Inc. (DKS). Latest full fiscal year: 2026; data up to 2026-08-01.
Figures computed from the financial statements: revenue 17.2 bn USD in 2026; YoY growth 28.1%; net margin 4.0%; ROE 18.5%.
The estimated value range is 71.26–106.42 USD per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 92.13 USD, the price of 141.07 USD leaves a potential of -34.7% (value / price − 1) and a margin of safety of -53.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 39/100, methodological classification: unattractive profile (score, margin of safety and method agreement together; not a judgement of the right price). Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Revenue CAGR 3Y: 11.7%
- Interest coverage: 16.4x
What contradicts it
- FCF conversion: 28.5%
- EPS CAGR 3Y: -2.6%
- P/E (TTM): 15.2x
- FCF yield: 1.8%
- Payout ratio (FCF): 184.9%
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): ROIC, Net debt / EBITDA, EV/EBITDA.
Versus the vertical median
Miscellaneous retail (SIC 594x) · same industry group (3-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SIGSignet Jewelers Limited | 4.7 bn | 14.0 | 19.9% | 5.2% | +1.6% | +22% / +48% |
| ASOAcademy Sports and Outdoors, Inc. | 4.2 bn | 11.3 | 18.6% | 6.4% | +2.0% | +41% / +33% |
| BNEDBarnes & Noble Education, Inc. | 434.7 m | 19.6 | 8.3% | 1.3% | +6.5% | +34% / −89% |
| BBWBuild-A-Bear Workshop Inc | 364.4 m | 7.3 | 32.8% | 10.0% | +6.7% | −44% / +21% |
| ELAEnvela Corporation | 280.7 m | 12.6 | 32.4% | 7.6% | +33.6% | −6% / +147% |
| HEREHere Group Limited | 70.3 m | 7.5 | 9.1% | 10.6% | −76.9% | −71% / −24% |
| PEWGrabAGun Digital Holdings Inc. | 55.2 m | — | -13.7% | -7.0% | +3.6% | −47% / unavailable |
| SPWHSportsman’s Warehouse Holdings, Inc. | 43.1 m | — | -25.8% | -3.9% | +1.0% | −51% / −77% |
| DKSDICK'S Sporting Goods, Inc. | — | 15.2 | 18.5% | 4.0% | +28.1% | −36% / +23% |
1- and 3-year price returns: for DKS from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 85.87 Total return -36% · Per year -36% | 151.33 Total return 11% · Per year 11% | 227.27 Total return 66% · Per year 66% |
| 3 years | 95.75 Total return -23% · Per year -8% | 188.65 Total return 46% · Per year 14% | 309.27 Total return 135% · Per year 33% |
| 5 years | 106.77 Total return -8% · Per year -2% | 235.17 Total return 90% · Per year 14% | 420.84 Total return 230% · Per year 27% |
- Exit P/E± 47.16
- Net margin± 33.01
- Annual revenue growth± 25.36
- Annual dilution± 2.77
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
DICK'S Sporting Goods is a global sporting goods retailer that, after acquiring Foot Locker in September 2025, runs two segments: the DICK'S Business and the Foot Locker Business. It matters now because the two segments are diverging: DICK'S comparable sales grew 4.9% in the second quarter of fiscal 2026 3, while Foot Locker's proforma comparable sales declined 3.6% 3, and the company revised its 2026 outlook 3.
SWOT
Strengths
- The company has a large loyalty program with a high share of sales, providing data for personalization 1.
- A differentiated mix of national brands and vertical brands supports better margins in the DICK'S Business 1.
- The store network enables fast delivery and in-store pickup, which online-only competitors find hard to replicate 1.
Weaknesses
Opportunities
Risks
- Consumer discretionary spendinghigh
A decline in consumer spending could reduce store traffic and comparable sales 1.
- Foot Locker integrationhigh
Integration and synergy realization could take longer than expected or may not be achieved 12.
- Promotional pressuremedium
If promotions intensify, gross margins could decline, especially at Foot Locker 3.
- Tariff and transport costsmedium
Changes in tariffs and transport costs could increase procurement expenses 1.
- Elevated inventorymedium
Higher inventory could lead to markdowns or write-downs if demand does not materialize 2.
Investment thesis
What would need to be true (bull case)
What to watch
- Foot Locker results after the back-to-school seasonQ3 2026
- Delivery against the comparable sales outlook for the DICK'S Business2026
- Margin trends amid promotions in footwearQ3 2026
- Progress on Foot Locker cost synergiesnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
DICK'S Sporting Goods, founded in 1948 in New York, is a global retailer of sports equipment, apparel, footwear and accessories, operating banners such as DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! 1. Since September 2025 it also owns Foot Locker, with banners including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, serving the sneaker community across North America, Europe, Asia and Australia 1. It also owns GameChanger, a youth sports mobile platform for live streaming, scheduling and scorekeeping 1.
The DICK'S Business strategy rests on the athlete experience in stores and online, a differentiated assortment and vertical brands 1. The company is expanding its DICK'S House of Sport, DICK'S Field House and Golf Galaxy Performance Center formats, which it sees as drivers of future growth 1. The ScoreCard Rewards loyalty program and GameChanger support personalization and new revenue streams, including DICK'S Media Network 1.
For Foot Locker, management launched a 'Fast Break' initiative in a pilot group of stores and began reviewing inventory and the store network to identify unproductive assets 1. The company expects this segment to return to profitability in 2026, but that outlook was later lowered 3. To support expansion and assortment, capital spending increased in the second quarter 3.
Segments
DICK'S Business
The DICK'S Business segment includes the DICK'S, Golf Galaxy, Public Lands, Going Going Gone! and GameChanger operations 1. In the second quarter of 2026 segment sales reached 3.85 billion USD and segment profit was 485 million USD 3. Comparable sales grew 4.9% 3.
Foot Locker Business
The Foot Locker segment contributed 3.1 billion USD of net sales in fiscal 2025 from the acquisition date 1. In the second quarter of 2026 it recorded a segment loss, with proforma comparable sales down 3.6% 3. The company lowered its 2026 expectations for this segment, citing weaker demand for legacy footwear silhouettes and launches that underperformed expectations 23.
Market context
Management described U.S. sports momentum as strong, with growing interest in women's sports, the 2026 FIFA World Cup and the 2028 Olympics 1. Competition is intense and fragmented, and consumers can compare prices in real time, which pressures margins 1. The premium athletic footwear market is driven by fashion and product innovation 1.
Consumer demand depends on discretionary spending, which is sensitive to inflation, elevated interest rates and trade and geopolitical uncertainty 1. In the second quarter of 2026 management noted that parts of the athletic footwear and apparel market became increasingly promotional 3. If promotions persist, margin pressure could continue 3.
Trends
- Major sporting eventstailwind
The 2026 FIFA World Cup and the 2028 Olympics could support demand for sports equipment and apparel 1. In the second quarter the company reported strong results around the World Cup 3.
- Promotional sneaker marketheadwind
The athletic footwear market became more promotional and launches underperformed for Foot Locker 3. If this pressure persists, Foot Locker margins and sales could be affected 3.
- Omnichannel and digital growthmixed
Customers expect a seamless experience between stores and online, and the company has invested in fast delivery and in-store pickup 1. This model can support growth but requires ongoing technology investment 1.
- Sourcing costs and tariffsheadwind
Most merchandise is manufactured outside the United States, so changes in tariffs, transport costs and fuel prices can raise procurement costs 1. Geopolitical tensions have added volatility to shipping costs and supply chains 12.
Competitive position
The company competes with large-format sporting goods retailers, specialty retailers, mass merchants, department stores and online or direct-to-consumer sellers, including vendors selling directly 1. Many competitors have national or international presence and substantial financial and marketing resources 1.
In sneakers, Foot Locker competes with specialty retailers and online platforms selling collectible models 13. The company argues its advantage lies in its physical store network, which offers service, fast pickup and direct access to staff 1.
- Large-format and specialty sporting goods retailers
Competitors selling sports equipment and apparel in large stores, cited generically in the company's filings 1.
- Mass merchants and department stores
General retailers with sporting categories, named among competitive risks 1.
- Online and direct-to-consumer sellers
Online platforms and vendors selling directly to customers, with easily compared prices 1.
- Specialty sneaker retailers
Stores specializing in collectible athletic footwear, relevant to the Foot Locker segment 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- Caitlin Clark signs as first-ever brand partner with Dick's and Foot LockerCNBC — Top News · 04 Nov 2026 · EN
- VIDEO Magazine Carrefour jefuite. 50 de magazine ale lanțului au fost afectate, inclusiv hipermarketuri și supermarketuri, de protestele violente din Franța. Și alte magazine, precum Foot Locker, au fost jefuiteProfit.ro · 18 Oct 2026 · RO
- Magazine închise în România. Deținătorul francizelor Intersport și Foot Locker, lovit de mediul de piață „deosebit de dificil”. A închis 2 magazine și accelerează restructurareaHotNews.ro · 09 Sept 2026 · RO
- Magazine închise în România. Deținătorul francizelor Intersport și Foot Locker, lovit de mediul de piață “deosebit de dificil”. A închis 2 magazine și accelerează restructurareaProfit.ro · 08 Sept 2026 · RO
- Nike Installs Former Foot Locker Supply Chain Chief as Converse COOYahoo Finance — News · 29 Aug 2026 · EN
- How Foot Locker went from a sneakerhead destination to a store struggling to get rid of old shoesMarketWatch — Top Stories · 27 Aug 2026 · EN
- Dick's Sporting Goods' stock crash reveals a major problem for struggling NikeYahoo Finance — News · 26 Aug 2026 · EN
- Earnings live updates: Dick's Sporting Goods stock tanks after retailer slashes outlook amid 'challenging conditions'Yahoo Finance — News · 25 Aug 2026 · EN
- Dick's Sporting Goods stock falls 15% as retailer misses expectations, cites 'challenging' footwear marketCNBC World · 25 Aug 2026 · EN
SEC filings
- Current report25 Sept 2026Material agreement · Financial statements and exhibits
- Current report21 Sept 2026Other events · Financial statements and exhibits
- Quarterly report03 Sept 2026
- Current report25 Aug 2026Results of operations · Other events · Financial statements and exhibits
- Current report12 Jun 2026Shareholder vote
- Quarterly report04 Jun 2026
- Current report27 May 2026Results of operations · Other events · Financial statements and exhibits
- Proxy statement01 May 2026
- Annual report27 Mar 2026
- Current report12 Mar 2026Results of operations · Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-01-31 · SEC / DICK'S Sporting Goods, Inc. · 27 Mar 2026
- [2] Form 10-Q, quarter ended 2026-08-01 · SEC / DICK'S Sporting Goods, Inc. · 03 Sept 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / DICK'S Sporting Goods, Inc. · 25 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.