Foot Locker is slowly returning to growth under the guidance of Dick’s Sporting Goods.
On Wednesday, the Pittsburgh-based company reported that overall net sales rose to $5.17 billion in the first quarter of fiscal 2026, up 62.7 percent from $3.17 billion a year earlier, as it added Foot Locker to its business. Net income in the period was $319.82 million, or $3.54 per share, compared with $264.29 million, or $3.24 per share, a year earlier. Adjusting for items like acquisition costs, the company earned $2.90 per share in the quarter.
These results were in-line with analysts’ guidance, which called for net sales between $4.98 billion and $5.2 billion and earnings per share between $2.54 and $3.46, according to Yahoo Finance.
You May Also Like
By segment, the company noted that the Dick’s Business – which includes Dick’s Sporting Goods, Golf Galaxy, Going Going Gone! and Public Lands banners, as well as GameChanger – had net sales in the period of $3.4 billion, up from $3.2 billion in the first quarter of 2025.
As for its Foot Locker segment – which includes the Foot Locker, Kids Foot Locker, Champs Sports, WSS and Atmos banners – net sales in the quarter were $1.8 billion.
Executive chairman Ed Stack said in a statement that the company’s “excitement and confidence” continue to build as “proof points” emerged for Foot Locker in the first quarter, citing positive comps and profitability.
“Our Fast Break initiative, our capital light store remodel program, is delivering exceptional results, with double-digit comps and merchandise margin improvement as we rapidly scale toward approximately 250 stores by back to school,” Stack noted. “Based on this early progress, we are raising the low end of our full-year comp sales expectation for the Foot Locker business.”
Company president and chief executive officer Lauren Hobart echoed the sentiment in a statement, noting that more broadly, Dick’s saw growth in average ticket and transactions, and broad-based strength across footwear, apparel and hardlines.
“These strong comps were on top of a 4.5 percent increase last year and a 5.3 percent increase in 2024, as we continued to gain market share,” Hobart added.
Looking ahead, the company expects net sales in fiscal 2026 to be between $22.1 billion and $22.4 billion, with earnings per share between $13.27 and $14.27. By segment, the company expects net sales for its Dick’s Business to be between $14.5 billion and $14.7 billion in fiscal 2026. Its Foot Locker Business is expected to be between $7.6 billion and $7.7 billion for the year.
