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DICK'S Sporting Goods, Inc. Reports First Quarter ResultsMay 27, 2026 7:00 AM
PR Newswire (US) – DICK'S Business Delivers 6.0% Comp Sales Growth –– Foot Locker Business Returns to Comp Sales Growth and Profitability (A) (B) – – Raises Low End of 2026 Comp Sales Outlook for Both the DICK'S and Foot Locker Businesses (A) (B) – Delivered earnings per diluted share of $3.54 and non-GAAP earnings per diluted share of $2.90 (C) compared to earnings per diluted share of $3.24 and non-GAAP earnings per diluted share of $3.37 in the prior year quarter; Current year results include the dilutive impact of the 9.6 million shares issued in connection with the Foot Locker acquisitionScaled the Foot Locker Business's Fast Break initiative to approximately 100 stores globally during the first quarter and remain on track to reach approximately 250 stores by back to schoolRaises low end of full year 2026 guidance for comparable sales growth for both the DICK'S and Foot Locker Businesses:DICK'S Business now 2.5% to 4.0%, up from 2.0% to 4.0% previouslyFoot Locker Business (B) now 1.5% to 3.0%, up from 1.0% to 3.0% previouslyUpdates full year 2026 consolidated operating income guidance to a range of $1.69 to 1.81 billion, compared to $1.71 to 1.83 billion previously; Raises full year 2026 consolidated non-GAAP operating income guidance to a range of $1.71 to 1.83 billion, up from $1.68 to 1.81 billion previouslyUpdates full year 2026 consolidated earnings per diluted share guidance to a range of $13.27 to 14.27, compared to $13.70 to 14.70 previously; Continues to expect full year 2026 non-GAAP earnings per diluted share to be in the range of $13.50 to 14.50"Sport is one of the hottest categories in the country today, and DICK'S is leading from the front. We're investing from a position of strength and playing offense for the long term, widening the gap between us and the rest of the industry. Our leadership showed up clearly in our DICK'S Business results this quarter, with 6% comp growth. With Foot Locker, our excitement and confidence continue to build as we execute our plan, and in Q1 we saw encouraging proof points, returning the Foot Locker Business to 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. Based on this early progress, we are raising the low end of our full-year comp sales expectation for the Foot Locker Business."
Ed Stack, Executive Chairman
"We're very proud of our company's Q1 results. Sport is driving sustained energy and engagement across the consumer landscape, and our team turned that athlete demand into another very strong quarter of execution. In Q1, we delivered comp sales growth of 6% in the DICK'S Business, with 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% increase last year and a 5.3% increase in 2024, as we continued to gain market share. Given our continued confidence in the DICK'S Business, we are raising our full-year expectations for comp sales growth and profitability."
Lauren Hobart, President and Chief Executive Officer PITTSBURGH, May 27, 2026 /PRNewswire/ -- DICK'S Sporting Goods, Inc. (NYSE: DKS), a leading global sports retailer, today reported sales and earnings results for the first quarter ended May 2, 2026. (A) Results described by management for the "DICK'S Business" represent the existing DICK'S Sporting Goods operations, which includes the DICK'S Sporting Goods, Golf Galaxy, Going Going Gone! and Public Lands banners, as well as GameChanger. The results for the "Foot Locker Business" refer to our acquired operations, including the Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos banners. Profitability for the DICK'S and Foot Locker Businesses represents segment profit, or operating income for a respective segment.(B) Comparable sales for the Foot Locker Business are represented on a proforma basis and are calculated as if Foot Locker had been acquired at the beginning of the periods presented. Foot Locker will not be included in quarterly comparable sales until the fourth quarter of fiscal 2026 and full year comparable sales in fiscal 2027.(C) For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations." DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESSUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED Information below represents consolidated supplemental financial results for the 13 weeks ended May 2, 2026, which includes the DICK'S and Foot Locker Businesses. Prior period results reflect the DICK'S Business on a stand-alone basis.
First Quarter Consolidated Operating Results(in millions, except percentage and per share data)13 Weeks EndedChange (9)May 2, 2026May 3, 2025GAAP
Net sales$5,165$3,175$1,99062.7 %Operating income (% of net sales) (1)
8.7 %
11.5 %
(281) bpsEffective tax rate
28.3 %
24.0 %
434 bpsNet income$320$264$5621 %Weighted average diluted shares outstanding (2)
90
81
911 %Earnings per diluted share (2)$3.54$3.24$0.309 %Non-GAAP (3)
Operating income (% of net sales) (1)
7.3 %
11.4 %
(402) bpsEffective tax rate
28.8 %
24.1 %
475 bpsNet income $262$275$(12)(5) %Earnings per diluted share (2)$2.90$3.37$(0.47)(14) %
Balance Sheet(in millions)As ofMay 2, 2026As ofMay 3, 2025$ Change (9)%Change (9)Cash and cash equivalents$998$1,036$(38)(4) %Inventories, net (4)$5,419$3,569$1,85052 %Long-term debt and financing lease obligations (5)$1,906$1,484$42128 %
Capital Allocation(in millions)13 Weeks Ended$Change (9)% Change (9)May 2, 2026May 3, 2025Share repurchases (6)$141$299$(157)(53) %Dividends paid (7)$114$100$1414 %Gross capital expenditures (8)$361$265$9636 %Net capital expenditures (3) (8)$289$242$4719 %
Notes(1) Also referred to by management as operating margin. (2) Current year weighted average diluted shares outstanding and earnings per diluted share include the dilutive effect of the 9.6 million shares issued in connection with the Foot Locker acquisition.(3) For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations."(4) Inventories, net as of May 2, 2026 includes $3.7 billion for the DICK'S Business and $1.7 billion for the Foot Locker Business. Inventory increased 3% for the DICK'S Business as compared to May 3, 2025.(5) Current year balance includes $385.5 million of carrying value for senior notes due 2029 and $34.9 million for the long-term portion of financing lease obligations acquired in connection with the Foot Locker acquisition. The Company had no outstanding borrowings under its revolving credit facility in 2026 and 2025. (6) During the 13 weeks ended May 2, 2026, the Company repurchased 0.7 million shares of its common stock under its previously announced share repurchase program at an average price of $196.38 per share, for a total cost of $141.2 million, and has $3.0 billion remaining under existing share repurchase authorizations as of May 2, 2026. The Company also paid $5 million during fiscal 2025 for shares repurchased during fiscal 2024.(7) The Company declared and paid quarterly dividends of $1.25 per share in fiscal 2026 and $1.2125 per share in fiscal 2025.(8) During the 13 weeks ended May 2, 2026, gross and net capital expenditures totaled $294.9 million and $224.3 million, respectively, for the DICK'S Business and $65.9 million and $64.7 million, respectively, for the Foot Locker Business. (9) Column may not recalculate due to rounding. DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESSUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED (Continued)
Information below represents supplemental financial results for the DICK'S and Foot Locker Businesses for the periods presented. Prior period results reflect the DICK'S Business on a stand-alone basis, with the exception of proforma comparable sales information. Refer to Proforma Comparable Sales section for additional information.
13 Weeks Ended(in thousands)May 2, 2026
May 3, 2025Net sales
DICK'S Sporting Goods$ 3,377,440
$ 3,174,677Foot Locker1,787,064
—Total net sales$ 5,164,504
$ 3,174,677
Gross profit
DICK'S Sporting Goods$ 1,227,321
$ 1,165,086Foot Locker498,666
—Corporate and other expenses (1)(42,725)
—Total gross profit$ 1,683,262
$ 1,165,086
Segment profit
DICK'S Sporting Goods$ 360,975
$ 360,408Foot Locker17,462
—Reconciliation to pre-tax income
Corporate and other income (2)(72,213)
(5,708)Interest expense17,541
12,138Other (income) expense(13,166)
6,256Pre-tax income$ 446,275
$ 347,722
ProformaComparable Sales13 Weeks EndedMay 2, 2026May 3, 2025DICK'S Sporting Goods6.0 %
4.5 %Proforma Foot Locker (3) (4)0.6 %
(2.9) %Proforma consolidated comparable sales (3)4.1 %
1.7 %
(1) Corporate and other expenses within gross profit represent charges to write down and liquidate inventory from the Company's review of the Foot Locker Business.(2) Corporate and other income includes income for litigation and other settlements and changes in the fair value of employee deferred compensation plan investments held in rabbi trusts, partially offset by Foot Locker acquisition-related costs.(3) Proforma comparable sales are calculated as if Foot Locker had been acquired at the beginning of the periods presented. Sales have been adjusted to conform to the Company's method of reporting comparable sales. Comparable sales are calculated on a constant currency basis, which translates the current year's results using the prior year periods' exchange rates.(4) Includes Foot Locker International proforma comparable sales decreases of (1.7%) and (8.9%) for the 13 weeks ended May 2, 2026 and May 3, 2025, respectively, which represents operations of the Foot Locker Business in Europe and Asia Pacific.Full Year 2026 OutlookThe Company's Full Year Outlook for 2026 is presented below.Consolidated OutlookMetricConsolidated Full Year 2026 OutlookNet sales $22.1 billion to 22.4 billion Operating income $1.69 billion to 1.81 billion$1.71 billion to 1.83 billion on a non-GAAP basis (1) Earnings per diluted share $13.27 to 14.27Based on approximately 90.5 million diluted shares outstanding, which includes the dilutive impact of the 9.6 million shares issued in connection with the Foot Locker acquisitionBased on an effective tax rate of approximately 27% (2)$13.50 to 14.50 on a non-GAAP basis (1) Capital expenditures Approximately $1.6 billion on a gross basisApproximately $1.4 billion on a net basis
(1) Refer to the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations."(2) Effective tax rate includes the unfavorable mix of our earnings in foreign jurisdictions and the effect of purchase accounting adjustments, particularly in Europe, where losses do not currently generate a tax benefit due to valuation allowances.Segment OutlookThe Company is providing the following segment outlook for the DICK'S and Foot Locker Businesses to provide visibility into segment-level performance that is included in the consolidated outlook above. The information below does not include corporate and other activities, which for fiscal 2026, primarily include income received as part of litigation and other settlements, partially offset by Foot Locker acquisition-related costs.MetricFull Year 2026 OutlookDICK'S BusinessFoot Locker BusinessNet sales $14.5 billion to 14.7 billion $7.6 billion to 7.7 billion Comparable sales (1) Positive 2.5% to positive 4.0% Positive 1.5% to positive 3.0% (1) Segment profit (2) $1.60 billion to 1.68 billion $110 million to 150 million Segment profit (2)(% of net sales) 11.0% to 11.4% 1.4% to 1.9% Capital expenditures Approximately $1.2 billion on a gross basisApproximately $1.0 billion on a net basis Approximately $0.4 billion on a gross basisApproximately $0.4 billion on a net basis
(1) Comparable sales outlook for the Foot Locker Business is on a proforma basis, as Foot Locker will be included in the quarterly comparable store calculation beginning in the fourth quarter of fiscal 2026, which is when these stores will commence their 14th full month of operations following the date of acquisition.(2) Segment profit represents operating income for a respective segment. Corporate and other activities, which represent costs or income not specifically related to the recurring operations of our segments, are not included in these results as they are not used by the Company to evaluate segment performance.Store Count and Square Footage As of May 2, 2026, the Company operated 3,115 store locations across the DICK'S and Foot Locker Businesses. The following tables summarize store activity for fiscal 2026:DICK'S BusinessBeginningStoresNewStoresClosedStoresRelocated /Converted (6)EndingStoresGross Square Footage (7)(in millions)BeginningEndingDICK'S644—(2)(2)64034.434.2DICK'S Field House421—1442.42.5DICK'S House of Sport35——1363.83.9Total DICK'S7211(2)—72040.640.6Other Specialty Concepts
Golf Galaxy (1)113———1132.52.5Going Going Gone!512(1)—522.32.4Public Lands3———30.10.1Total Other Specialty Concepts1672(1)—1684.95.0Total DICK'S Business8883(3)—88845.545.6 Foot Locker BusinessBeginningStoresNewStoresClosedStores (5)Relocated /Converted (5)EndingStoresGross Square Footage (7)(in millions)BeginningEndingFoot Locker North America734—(18)—7164.44.3Champs Sports371—(7)—3642.22.1Kids Foot Locker3622(7)—3571.31.2WSS143—(43)—1001.81.3North America (2)1,6102(75)—1,5379.78.9Foot Locker Europe (3)5732(8)—5672.32.3Foot Locker Asia Pacific94———940.40.4atmos301(2)—29——International 6973(10)—6902.82.7Total Owned Stores2,3075(85)—2,22712.411.7Licensed stores (4)2545(3)—2561.11.1Total Foot Locker Business2,56110(88)—2,48313.512.8
(1) As of May 2, 2026, includes 36 Golf Galaxy Performance Centers, with three openings during fiscal 2026, which were conversions of prior Golf Galaxy store locations. (2) Represents store locations in the United States and Canada and related square footage. (3) Represents Foot Locker store locations in Europe, including two Kids Foot Locker stores and related square footage, as of May 2, 2026.(4) Reflects licensed stores operating in the Middle East, Asia and Europe. (5) Store closures for the Foot Locker Business during fiscal 2026 includes 62 Foot Locker stores identified as part of the Company's review of unproductive assets. Additionally, the Foot Locker Business relocated or remodeled 17 stores during the current year period consisting of four Foot Locker, four Kids Foot Locker and four WSS store locations in North America and five international store locations.(6) Reflects stores converted between concept or prototype through store relocations or remodels as part of the Company's strategy to reposition its store portfolio. In addition to stores that converted between concepts, the Company relocated or remodeled four stores during the current year period, consisting of three Golf Galaxy and one DICK'S House of Sport store locations.(7) Columns may not recalculate due to rounding.Quarterly Dividend On May 26, 2026, the Company's Board of Directors authorized and declared a quarterly dividend in the amount of $1.25 per share on the Company's common stock and Class B common stock. The dividend is payable in cash on June 26, 2026 to stockholders of record at the close of business on June 12, 2026.Acquisition of Foot LockerOn September 8, 2025, the Company acquired all of the issued and outstanding shares of Foot Locker, Inc. ("Foot Locker"), a leading footwear and apparel retailer, pursuant to the definitive merger agreement executed on May 15, 2025. Total consideration exchanged for the acquisition was $2.5 billion, which primarily consisted of $2.1 billion in share consideration for the issuance of 9.6 million shares of DICK'S Sporting Goods common stock, $223.0 million in cash consideration and $111.6 million from the Company's pre-existing equity ownership in Foot Locker. The Company's current period results reflect Foot Locker's operations for the entire 13-week period ended May 2, 2026.As previously announced, the Company has initiated a review of unproductive assets, which includes optimizing inventory, closing underperforming stores, and right-sizing assets that do not align with our go-forward vision for the Foot Locker Business. We continue to expect these actions, along with merger and integration costs and deferred financing amortization on a bridge facility, to result in pre-tax charges of $500 to 750 million, of which $486.5 million has been recognized to date. Including the $96.5 million of charges incurred during the 13 weeks ended May 2, 2026, we currently expect $200 million of these charges to be incurred in fiscal 2026, with the remaining charges to be incurred over the medium term.Non-GAAP Financial MeasuresIn addition to reporting the Company's financial results for the first quarter in accordance with generally accepted accounting principles ("GAAP"), the Company also reports certain non-GAAP financial measures. These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP effective tax rate, non-GAAP net income, non-GAAP earnings per diluted share and net capital expenditures. Management believes these non-GAAP financial measures provide investors with meaningful supplemental information to assist in evaluating the Company's ongoing operations and comparing results across reporting periods.Management further believes that excluding non-cash changes in the fair value of deferred compensation plan investments—which fluctuate with market performance and are offset within other income—enhances investors' understanding of underlying trends in selling, general and administrative expenses. The Company also uses these non-GAAP financial measures internally for budgeting, forecasting and assessing operating performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, the Company's GAAP financial results. Because the methods used by the Company to calculate its non-GAAP measures may differ from those used by other companies, the non-GAAP measures presented herein may not be comparable to similarly titled measures of other companies. Reconciliations of the Company's non-GAAP financial measures to the most directly comparable GAAP measures are provided below and are available on the Company's website at investors.DICKS.com.Forward-Looking Statements Involving Known and Unknown Risks and UncertaintiesThis release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", "intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Any statements about the Company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond the Company's control. The Company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the Company's future performance, including 2026 outlook and guidance and revisions thereto, continued comp growth, and improved gross margin, the benefits of the combination of DICK'S Sporting Goods and Foot Locker (the "Transaction"), including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture that are not historical facts.Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, macroeconomic conditions, including inflationary pressures and elevated interest rates, changes in consumer income and confidence, perception of global economic conditions, geopolitical conflicts and tensions, the threat or outbreak of further conflicts, war, terrorism or public unrest, wage and unemployment levels and public health concerns; intense competition in the sporting goods industry and in retail, including competition for talent and the level of competitive promotional activity and technological innovation; product cost and availability fluctuations due to a variety of factors; risks and costs inherent with international operations; our dependence on consumer discretionary spending and ability to predict or effectively react to changes in consumer demand, lifestyle changes or shopping patterns; risks associated with our vertical brand offerings, including brand strategy and marketing, improved space in-store, expanding product categories, product safety and labeling, product liability and recalls, and specialty concept stores; our ability to protect the reputation of our Company and our brands; short-term impacts of our strategic plans and initiatives, or such plans and initiatives not achieving the desired results within the anticipated time frame or at all; our ability to successfully grow our DICK'S House of Sport, DICK'S Field House and Golf Galaxy Performance Center stores and execute our overall real estate strategy for DICK'S and Foot Locker; unauthorized use or disclosure of sensitive or confidential athlete, teammate, vendor or Company information; disruptions, delays, downtime or other problems with our information systems, including our eCommerce platform and GameChanger, caused by high volumes, design or implementation deficiencies, or platform enhancements as well as associated disruptions to our operations; our ability to attract, train, engage and retain athletes and key teammates, to implement effective succession planning strategies, and to adequately respond to teammate organizing efforts; weather-related risks and seasonal influences resulting from the overall seasonality of certain categories of our business; our issuance of quarterly cash dividends and share repurchases pursuant to our share repurchase programs, if any; our ability to effectively control expenses, manage inventory levels and protect against inventory shrink; the ability of the Foot Locker business to expand its market share in international markets; the technology enablement required to support our omni-channel capabilities; our ability to meet market expectations and the historical and possible future impacts on the price of our common stock; the influence and control of the holders of our Class B common stock, whose interests may differ from those of our other stockholders; our charter's current anti-takeover provisions, which could prevent or delay a change in control of the Company; our dependence on key suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; risks and costs relating to changing global laws, rules, regulations, interpretations and other guidance affecting our business; product safety and labeling concerns; compliance and litigation risks for which we may not have sufficient insurance or other coverage; our ability to secure and protect our intellectual property and defend claims of intellectual property infringement, including with respect to our vertical brands; changes in applicable tax laws, regulations and treaties and their interpretation and application; the effects of the performance of professional sports teams within our core regions of operations and other factors relating to professional sports leagues and key athletes; the impact of evolving environmental, social and governance standards, regulatory requirements, stakeholder expectations and related political and social dynamics; risks related to the Transaction, including effective integration of the Foot Locker business, and other strategic alliances, acquisitions or investments; obligations and other provisions related to our indebtedness, including our senior notes due 2029, 2032 and 2052; and changes in the market value or liquidity of securities we hold and risks associated with our limited degree of control over certain strategic minority investments. These factors are not necessarily all of the factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm our results.For additional information on these and other factors that could affect our actual results, see the risk factors set forth in our filings with the Securities and Exchange Commission (the "SEC"), including our most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2026. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this communication, except as required by applicable law or regulation. Forward-looking statements included in this communication are made as of the date of this communication.Conference Call Info The Company will host a conference call today at 8:00 a.m. Eastern Time to discuss the first quarter results. Investors will have the opportunity to listen to the earnings conference call over the internet through the Company's website located at investors.DICKS.com. To listen to the live call, please go to the website at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, it will be archived on the Company's website for approximately twelve months.About DICK'S Sporting Goods, Inc.DICK'S Sporting Goods creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, DICK'S is a leading omni-channel retailer and an iconic brand in sport and culture. Its banners include DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! in addition to the experiential retail concepts DICK'S House of Sport and Golf Galaxy Performance Center. As owner and operator of the Foot Locker Business, including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, DICK'S serves the global sneaker community across North America, Europe, Asia and Australia, plus a licensed store presence in Europe, the Middle East and Asia. DICK'S also owns and operates GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping.Driven by its belief that sports have the power to change lives, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Instagram, TikTok, Facebook and X.Contacts:Investor Relations:
Nate Gilch, Vice President of Investor Relations
DICK'S Sporting Goods, Inc.
investors @leeboMedia Relations:
(724) 273-5552 or press@dcsg.comCategory: Earnings DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME - UNAUDITED(In thousands, except per share data)
13 Weeks Ended
May 2,2026
% of Sales (1)
May 3,2025
% of Sales (1)
Net sales
$ 5,164,504
100.00 %
$ 3,174,677
100.00 %Cost of goods sold, including occupancy and
distribution costs
3,481,242
67.41
2,009,591
63.30
GROSS PROFIT
1,683,262
32.59
1,165,086
36.70
Selling, general and administrative expenses
1,163,928
22.54
785,528
24.74Merger and integration costs
53,815
1.04
—
—Pre-opening expenses
14,869
0.29
13,442
0.42
OPERATING INCOME
450,650
8.73
366,116
11.53
Interest expense
17,541
0.34
12,138
0.38Other (income) expense
(13,166)
(0.25)
6,256
0.20
PRE-TAX INCOME
446,275
8.64
347,722
10.95
Provision for income taxes
126,453
2.45
83,434
2.63
NET INCOME
$ 319,822
6.19 %
$ 264,288
8.32 %
EARNINGS PER COMMON SHARE:
Basic
$ 3.61
$ 3.33
Diluted
$ 3.54
$ 3.24
WEIGHTED AVERAGE COMMON SHARES
OUTSTANDING:
Basic
88,535
79,341
Diluted
90,408
81,478
(1) Column does not add due to rounding DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS - UNAUDITED(In thousands)
May 2,2026
May 3,2025
January 31,2026ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$ 998,228
$ 1,035,889
$ 1,353,226Accounts receivable, net
466,521
256,554
475,852Income taxes receivable
59,075
4,138
68,455Inventories, net
5,419,435
3,569,353
4,907,823Prepaid expenses and other current assets
327,217
164,892
299,435Total current assets
7,270,476
5,030,826
7,104,791
Property and equipment, net
3,757,937
2,268,866
3,512,776Operating lease assets
4,651,738
2,396,687
4,594,670Intangible assets, net
765,371
58,598
768,575Goodwill
813,069
245,857
864,047Deferred income taxes
69,317
29,510
82,501Other assets
505,036
404,238
484,139TOTAL ASSETS
$ 17,832,944
$ 10,434,582
$ 17,411,499
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable
$ 2,181,042
$ 1,542,749
$ 1,986,990Accrued expenses
1,146,104
629,484
1,115,306Operating lease liabilities
948,017
496,129
1,004,909Income taxes payable
83,389
83,489
7,533Deferred revenue and other liabilities
485,638
360,568
528,820Total current liabilities
4,844,190
3,112,419
4,643,558LONG-TERM LIABILITIES:
Revolving credit borrowings
—
—
—Long-term debt and financing lease obligations
1,905,810
1,484,462
1,905,299Long-term operating lease liabilities
4,935,599
2,587,597
4,836,435Deferred income taxes
247,145
—
203,920Other long-term liabilities
295,956
197,710
282,167Total long-term liabilities
7,384,510
4,269,769
7,227,821COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock
650
556
653Class B common stock
236
236
236Additional paid-in capital
3,735,340
1,483,461
3,724,836Retained earnings
7,035,961
6,559,483
6,827,900Accumulated other comprehensive income (loss)
4,576
(430)
17,813Treasury stock, at cost
(5,172,519)
(4,990,912)
(5,031,318)Total stockholders' equity
5,604,244
3,052,394
5,540,120TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 17,832,944
$ 10,434,582
$ 17,411,499
DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED(In thousands)
13 Weeks Ended
May 2,2026
May 3,2025CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$ 319,822
$ 264,288Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization
153,810
97,860Amortization of deferred financing fees and debt discount
1,511
589Deferred income taxes
55,001
23,174Stock-based compensation
29,858
19,180Other, net
(2,687)
17,730Changes in assets and liabilities:
Accounts receivable
(16,107)
(22,061)Inventories
(514,024)
(219,523)Prepaid expenses and other assets
(5,164)
(19,682)Accounts payable
188,298
57,098Accrued expenses
6,504
(53,348)Income taxes payable / receivable
100,494
53,553Construction allowances provided by landlords
71,723
22,776Deferred revenue and other liabilities
(41,340)
(30,516)Operating lease assets and liabilities
(71,182)
(33,072)Net cash provided by operating activities
276,517
178,046CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures
(360,744)
(264,725)Other investing activities
(32)
(120,968)Net cash used in investing activities
(360,776)
(385,693)CASH FLOWS FROM FINANCING ACTIVITIES:
Payments on finance lease obligations
(1,371)
—Proceeds from exercise of stock options
7,190
61Minimum tax withholding requirements
(26,540)
(31,106)Cash paid for treasury stock
(141,208)
(303,671)Cash dividends paid to stockholders
(113,839)
(99,921)Increase (decrease) in bank overdraft
8,418
(12,092)Net cash used in financing activities
(267,350)
(446,729)EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
(3,389)
325NET DECREASE IN CASH AND CASH EQUIVALENTS
(354,998)
(654,051)CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
1,353,226
1,689,940CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 998,228
$ 1,035,889 DICK'S SPORTING GOODS, INC.GAAP to NON-GAAP RECONCILIATIONS - UNAUDITED
Non-GAAP Net Income and Earnings Per Share Reconciliations(dollars in thousands, except per share amounts)
13 Weeks Ended May 2, 2026
GrossprofitSelling,general andadministrativeexpensesOperatingincomeOther(income)expense Pre-taxincomeNetincome (4)Earningsper dilutedshareGAAP Basis$ 1,683,262$ 1,163,928$ 450,650$ (13,166)$ 446,275$ 319,822$ 3.54% of Net Sales32.59 %22.54 %8.73 %(0.25) %8.64 %6.19 %
Foot Locker acquisition-
related costs (1)42,725—96,540—96,54073,528
Litigation and other
settlements (2)—174,464(174,464)—(174,464)(131,169)
Deferred compensation
plan adjustments (3)—(5,711)5,7115,711——
Non-GAAP Basis$ 1,725,987$ 1,332,681$ 378,437$ (7,455)$ 368,351$ 262,181$ 2.90% of Net Sales33.42 %25.80 %7.33 %(0.14) %7.13 %5.08 %
(1) Foot Locker acquisition-related costs of $96.5 million include $42.7 million to write down and liquidate inventory from the Company's review of the Foot Locker Business and merger and integration costs of $53.8 million, which includes severance and other employee-related costs, store closing charges, legal and professional fees, and other costs related to the Foot Locker acquisition.(2) Represents $150.0 million in income received, net of legal fees, as a result of settlement on credit and debit card interchange fees and $24.5 million of income received from a landlord for early lease termination of a store location. (3) Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.(4) Except for approximately $5.7 million of non-deductible merger and integration costs, the provision for income taxes for non-GAAP adjustments was tax effected at the statutory rate of the applicable tax jurisdiction, which approximates 24%.
13 Weeks Ended May 3, 2025
Selling,general andadministrative
expensesOperatingincomeOtherexpense(income)Pre-taxincomeNetincome(3)Earningsper dilutedshareGAAP Basis$ 785,528$ 366,116$ 6,256$ 347,722$ 264,288$ 3.24% of Net Sales24.74 %11.53 %0.20 %10.95 %8.32 %
Investment losses (1)——(13,880)13,88010,271
Deferred compensation
plan adjustments (2)5,708(5,708)(5,708)——
Non-GAAP Basis$ 791,236$ 360,408$ (13,332)$ 361,602$ 274,559$ 3.37% of Net Sales24.92 %11.35 %(0.42) %11.39 %8.65 %
(1) Included non-cash losses from non-operating investment in Foot Locker equity securities.(2) Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.(3) The provision for income taxes for non-GAAP adjustments was calculated at 26% which approximated the Company's blended tax rate. Gross Capital Expenditures to Net Capital Expenditures Reconciliation(in thousands)
The following table represents a reconciliation of the Company's gross capital expenditures to its capital expenditures, net of construction allowances.
13 Weeks Ended May 2, 2026
13 Weeks Ended May 3, 2025
DICK'S
FootLocker
Consolidated
DICK'S
FootLocker
ConsolidatedGross capital expenditures
$ (294,866)
$ (65,878)
$ (360,744)
$ (264,725)
$ —
$ (264,725)Construction allowances
provided by landlords
70,548
1,175
71,723
22,776
—
22,776Net capital expenditures
$ (224,318)
$ (64,703)
$ (289,021)
$ (241,949)
$ —
$ (241,949) Reconciliation of Non-GAAP Operating Income and Earnings Per Diluted Share Guidance(dollars in millions, except per share amounts)
52 Weeks Ended January 30, 2027
Low End
High End
OperatingincomeEarnings perdiluted share
OperatingincomeEarnings perdiluted shareGAAP Basis$ 1,688$ 13.27
$ 1,806$ 14.27Foot Locker acquisition-related costs (1)2001.68
2001.68Litigation and other settlements (2)(174)(1.45)
(174)(1.45)Non-GAAP Basis$ 1,714$ 13.50
$ 1,832$ 14.50
(1) Adjustment eliminates the impact of future Foot Locker acquisition-related charges. Refer to "Acquisition of Foot Locker" section above for additional information.(2) Represents income received, net of legal fees, as a result of settlement on credit and debit card interchange fees and from a landlord for early lease termination of a store location. View original content to download multimedia:https://www.prnewswire.com/news-releases/dicks-sporting-goods-inc-reports-first-quarter-results-302782458.htmlSOURCE DICK'S Sporting Goods, Inc. Original: DICK'S Sporting Goods, Inc. Reports First Quarter Results
US Market News
4月前
DICK'S Sporting Goods, Inc. Reports Fourth Quarter and Full Year 2025 Results; Delivers Record-Setting Fourth Quarter Sales for the DICK'S BusinessMarch 12, 2026 7:00 AM
PR Newswire (US)
– Delivers 3.1% Fourth Quarter Comparable Sales Growth for the DICK'S Business (A) – – Guides to Growth in Sales and Profitability in 2026 – Delivered 4.5% full year 2025 comparable sales growth for the DICK'S Business, driven by growth in average ticket and transactionsDelivered full year 2025 earnings per diluted share of $9.97 and non-GAAP earnings per diluted share of $13.20; Delivered full year 2025 non-GAAP earnings per diluted share for the DICK'S Business of $14.58 (B) compared to GAAP and non-GAAP earnings per diluted share of $14.05 during the prior yearOpened 16 House of Sport locations and 15 DICK'S Field House locations during 2025; Plans to open approximately 14 additional House of Sport locations and approximately 22 additional DICK'S Field House locations in 2026Provides 2026 outlook and expects full year comparable sales growth to be in the range of 2.0% to 4.0% for the DICK'S Business and full year proforma comparable sales growth (A) to be in the range of 1.0% to 3.0% for the Foot Locker BusinessExpects full year 2026 consolidated operating income to be in the range of $1.71 to 1.83 billion; Expects full year 2026 consolidated non-GAAP operating income to be in the range of $1.68 to 1.81 billionExpects full year 2026 consolidated earnings per diluted share to be in the range of $13.70 to 14.70; Expects full year 2026 non-GAAP consolidated earnings per diluted share to be in the range of $13.50 to 14.50Board of Directors authorizes a 3% increase in annualized dividend to $5.00 per share"2025 was another strong year for the DICK'S Business, with growth in comps and EPS exceeding our expectations. We've now owned the Foot Locker Business for about six months and our excitement and our conviction in the long-term opportunity continue to grow. We're very encouraged by what we're seeing with our Fast Break initiative, the evolution of our 11-store Foot Locker pilot, which we plan to rapidly scale in 2026. In addition, our "clean out of the garage" efforts have set up Foot Locker to play offense and deliver the inflection point we expect beginning with back-to-school. We remain very confident that DICK'S and Foot Locker are stronger together, and I want to thank our more than 100,000 teammates across the globe for their commitment and execution every day."
Ed Stack, Executive Chairman
"We're very proud of our company's Q4 results. In the DICK'S Business, our strong execution powered a great holiday season and another strong quarter with comp growth over 3% and double-digit non-GAAP EPS growth. It was a terrific year overall with comps of 4.5%, gross margin expansion, and non-GAAP operating margin of over 11%. DICK'S and Foot Locker are perfectly positioned at the intersection of sport and culture which is becoming an even stronger part of everyday life. For 2026, we expect to drive continued comp growth, strategic expansion of our square footage, and strong profitability for the DICK'S Business. We also look forward to returning the Foot Locker Business to both top-line and bottom-line growth in 2026. We have deep conviction in the tremendous opportunity ahead for our entire company."
Lauren Hobart, President and Chief Executive OfficerPITTSBURGH, March 12, 2026 /PRNewswire/ -- DICK'S Sporting Goods, Inc. (NYSE: DKS), a leading global sports retailer, today reported sales and earnings results for the fourth quarter and full year ended January 31, 2026.
(A)Results described by management for the "DICK'S Business" represent the existing DICK'S Sporting Goods operations, which includes the DICK'S Sporting Goods, Golf Galaxy, Going Going Gone! and Public Lands banners, as well as GameChanger. The results for the "Foot Locker Business" refer to our newly acquired operations, including the Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos banners. Foot Locker will not be included in quarterly comparable sales until the fourth quarter of fiscal 2026 and full year comparable sales in fiscal 2027.(B)Non-GAAP earnings per diluted share results exclude Foot Locker investment gains and acquisition-related costs, and an asset impairment charge. Earnings per diluted share results for the DICK'S Business exclude the dilutive effect of the 9.6 million shares issued as part of the Foot Locker acquisition. For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations." Fourth Quarter Operating Results(in millions, except percentage and per share data)13 Weeks EndedChange (10)January 31,2026February 1,2025Consolidated GAAP
Net sales$6,226$3,894$2,33259.9 %Operating income (% of net sales) (1)
3.0 %
9.9 %
(698) bpsEffective tax rate
28.7 %
24.5 %
422 bpsNet income$128$300$(172)(57) %Weighted average diluted shares outstanding
91
83
810 %Earnings per diluted share$1.41$3.62$(2.21)(61) %
Consolidated Non-GAAP (2)
Operating income (% of net sales) (1)
7.0 %
10.1 %
(305) bpsEffective tax rate
26.8 %
24.5 %
227 bpsNet income $314$300$145 %Weighted average diluted shares outstanding
91
83
810 %Earnings per diluted share $3.45$3.62$(0.17)(5) %
Non-GAAP DICK'S Business (2)
Comparable sales (3)
3.1 %
6.6 %
Operating income (% of net sales) (1)
11.0 %
10.1 %
88 bpsEffective tax rate
25.0 %
24.5 %
54 bpsNet income $329$300$2910 %Weighted average diluted shares outstanding (4)
81
83
(2)(2) %Earnings per diluted share (4)$4.05$3.62$0.4312 %
Year-to-Date Operating Results (in millions, except percentage and per share data)52 Weeks EndedChange (10)January 31,2026February 1,2025Consolidated GAAP
Net sales$17,215$13,443$3,77228.1 %Operating income (% of net sales) (1)
6.4 %
11.0 %
(460) bpsEffective tax rate
25.6 %
23.3 %
235 bpsNet income$849$1,165$(316)(27) %Weighted average diluted shares outstanding
85
83
23 %Earnings per diluted share$9.97$14.05$(4.08)(29) %
Consolidated Non-GAAP (2)
Operating income (% of net sales) (1)
8.8 %
11.1 %
(233) bpsEffective tax rate
25.2 %
23.3 %
192 bpsNet income$1,124$1,165$(41)(4) %Weighted average diluted shares outstanding
85
83
23 %Earnings per diluted share$13.20$14.05$(0.85)(6) %
Non-GAAP DICK'S Business (2)
Comparable sales (3)
4.5 %
5.2 %
Operating income (% of net sales) (1)
11.1 %
11.1 %
(2) bpsEffective tax rate
24.1 %
23.3 %
85 bpsNet income$1,184$1,165$192 %Weighted average diluted shares outstanding (4)
81
83
(2)(2) %Earnings per diluted share (4)$14.58$14.05$0.534 %
Balance Sheet(in millions)As ofJanuary 31,2026As ofFebruary 1,2025$ Change (10)%Change (10)Cash and cash equivalents$1,353$1,690$(337)(20) %Inventories, net (5)$4,908$3,350$1,55847 %Long-term debt and financing lease obligations (6)$1,905$1,484$42128 %
Capital Allocation(in millions)52 Weeks Ended$Change (10)% Change (10)January 31,2026February 1,2025Share repurchases (7)$342$268$7428 %Dividends paid (8)$414$362$5214 %Gross capital expenditures$1,137$803$33542 %Net capital expenditures (2) (9)$976$726$24934 %Notes(1)Also referred to by management as operating margin.(2)For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations." In the fiscal 2024 period, there were no non-GAAP adjustments to reported net income or earnings per diluted share.(3)Foot Locker will be included in the quarterly comparable store calculation beginning in the fourth quarter of fiscal 2026, which is when these stores will commence their 14th full month of operations following the date of acquisition. Additionally, beginning in fiscal 2025, we revised our method for calculating comparable sales to include Warehouse Sale stores beginning in the stores' 14th full month of operations, similar to our other store locations. Prior year information has been revised to reflect this change for comparability purposes. See additional details as furnished in Exhibit 99.2 of the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025.(4)Weighted average diluted shares outstanding and earnings per diluted share for the DICK'S Business excludes the dilutive effect of the 9.6 million shares issued as part of the Foot Locker acquisition.(5)Inventories, net as of January 31, 2026 includes $3.4 billion for the DICK'S Business and $1.5 billion for the Foot Locker Business. Inventory increased 1% for the DICK'S Business as compared to February 1, 2025.(6)Current year balance includes $384.5 million of carrying value for senior notes due 2029 and $35.6 million for the long-term portion of financing lease obligations acquired in connection with the Foot Locker acquisition. The Company had no outstanding borrowings under its revolving credit facility in 2025 and 2024.(7)During the 52 weeks ended January 31, 2026, the Company repurchased 1.6 million shares of its common stock under its previously announced share repurchase program at an average price of $216.01 per share, for a total cost of $342.1 million, and has $3.2 billion remaining under existing share repurchase authorizations as of January 31, 2026. The Company also paid $5 million during fiscal 2025 for shares repurchased during fiscal 2024.(8)The Company declared and paid quarterly dividends of $1.2125 per share in fiscal 2025 and $1.10 per share in fiscal 2024.(9)Net capital expenditures for the year ended January 31, 2026 totaled $892.0 million for the DICK'S Business and $83.5 million for the Foot Locker Business.(10)Column may not recalculate due to rounding.Quarterly Dividend On March 11, 2026, the Company's Board of Directors authorized and declared a quarterly dividend in the amount of $1.25 per share on the Company's common stock and Class B common stock. The dividend is payable in cash on April 10, 2026 to stockholders of record at the close of business on March 27, 2026. This dividend represents an increase of 3% over the Company's previous quarterly per share amount and is equivalent to an annualized dividend of $5.00 per share.Acquisition of Foot LockerOn September 8, 2025, the Company acquired all of the issued and outstanding shares of Foot Locker, Inc. ("Foot Locker"), a leading footwear and apparel retailer, pursuant to the definitive merger agreement executed on May 15, 2025. Total consideration exchanged for the acquisition was $2.5 billion, which primarily consisted of $2.1 billion in share consideration for the issuance of 9.6 million shares of DICK'S Sporting Goods common stock, $223.0 million in cash consideration and $111.6 million from the Company's pre-existing equity ownership in Foot Locker. The Company's current period results reflect Foot Locker's operations subsequent to the acquisition close date, other than proforma comparable sales as noted in the supplemental financial information tables below.As previously announced, the Company has initiated a review of unproductive assets which includes optimizing inventory, closing underperforming stores, and right-sizing assets that don't align with our go-forward vision for the Foot Locker Business. These actions, along with merger and integration costs and deferred financing amortization on a bridge facility, are expected to result in pre-tax charges of $500 to 750 million, of which $235.5 million and $390.0 million was recorded during the 13 and 52 weeks ended January 31, 2026, respectively.Full Year 2026 Outlook The Company's Full Year Outlook for 2026 is presented below.Consolidated Outlook MetricConsolidated Full Year 2026 OutlookNet sales $22.1 billion to 22.4 billionOperating income $1.71 billion to 1.83 billion$1.68 billion to 1.81 billion on a non-GAAP basis (1) Earnings per diluted share $13.70 to 14.70Based on approximately 91 million diluted shares outstanding, which includes the dilutive impact of the 9.6 million shares issued in connection with the Foot Locker acquisitionBased on an effective tax rate of approximately 25.5%$13.50 to 14.50 on a non-GAAP basis (1)Capital expenditures Approximately $1.7 billion on a gross basisApproximately $1.5 billion on a net basis
(1)Refer to the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations."Segment OutlookThe Company is providing the following segment outlook for the DICK'S and Foot Locker Businesses to provide visibility into segment-level performance that is included in the consolidated outlook above. The information below does not include corporate and other expenses, which for fiscal 2026, include Foot Locker acquisition-related costs and litigation and other settlements.MetricFull Year 2026 OutlookDICK'S BusinessFoot Locker BusinessNet sales $14.5 billion to 14.7 billion $7.6 billion to 7.7 billion Comparable sales (1) Positive 2.0% to positive 4.0% Positive 1.0% to positive 3.0% (1) Segment profit (2) $1.58 billion to 1.66 billion $100 million to 150 million Segment profit (2)(% of net sales) 11.0% to 11.2% 1.3% to 1.9%
(1)Comparable sales outlook for the Foot Locker Business is on a proforma basis, as Foot Locker will be included in the quarterly comparable store calculation beginning in the fourth quarter of fiscal 2026, which is when these stores will commence their 14th full month of operations following the date of acquisition.(2)Segment profit represents operating income for a respective segment. Corporate and other expenses, which represent costs not specifically related to the recurring operations of our segments, are not included in these results as they are not used by the Company to evaluate segment performance. DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESSUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED(In thousands)
Information below includes operating results for the periods presented for the DICK'S and Foot Locker Businesses. The operating results for Foot Locker are included from the acquisition date of September 8, 2025.
13 Weeks Ended52 Weeks Ended
January 31,2026
February 1,2025
January 31,2026
February 1,2025Net sales
DICK'S Sporting Goods$ 4,050,789
$ 3,893,649
$ 14,108,943
$ 13,442,849Foot Locker2,175,265
—
3,106,177
—Total net sales$ 6,226,054
$ 3,893,649
$ 17,215,120
$ 13,442,849
Gross profit
DICK'S Sporting Goods$ 1,443,369
$ 1,361,258
$ 5,126,299
$ 4,825,696Foot Locker544,601
—
758,889
—Corporate and other expenses (1)(217,926)
—
(217,926)
—Total gross profit$ 1,770,044
$ 1,361,258
$ 5,667,262
$ 4,825,696
Segment profit (loss)
DICK'S Sporting Goods$ 444,511
$ 393,007
$ 1,568,443
$ 1,497,569Foot Locker(5,893)
—
(52,220)
—Reconciliation to income before income taxes
Corporate and other expenses (2)254,109
6,015
420,314
23,637Interest expense17,667
12,683
64,263
52,987Other income(13,185)
(22,963)
(110,327)
(98,088)Pre-tax income$ 180,027
$ 397,272
$ 1,141,973
$ 1,519,033
ProformaComparable Sales13 Weeks Ended
52 Weeks EndedJanuary 31,2026
February 1,2025
January 31,2026
February 1,2025DICK'S Sporting Goods3.1 %
6.6 %
4.5 %
5.2 %Proforma Foot Locker (3) (4)(3.4) %
2.3 %
(3.3) %
1.3 %Proforma consolidated comparable sales (3)0.8 %
5.0 %
1.6 %
3.8 %
(1)Corporate and other expenses within gross profit represent charges to write down and liquidate inventory from the Company's review of the Foot Locker Business.(2)Corporate and other expenses include Foot Locker acquisition-related costs, non-cash impairment charges and changes in the fair value of employee deferred compensation plan investments held in rabbi trusts.(3)The proforma comparable sales are calculated as if Foot Locker had been acquired at the beginning of the periods presented. The sales have been adjusted to conform to the Company's method of reporting comparable sales. Comparable sales for our international stores are calculated on a constant currency basis, which translates the current year's results using the prior year periods' exchange rates.(4)Includes Foot Locker International proforma comparable sales decreases of 3.2% and 8.1% for the 13 and 52 weeks ended January 31, 2026 and a decrease of 0.5% and increase of 1.6% for the 13 and 52 weeks ended February 1, 2025, which represents operations of the Foot Locker Business in Europe and Asia Pacific.Store Count and Square Footage As of January 31, 2026, the Company operated 3,195 store locations across the DICK'S and Foot Locker Businesses. The following tables summarize store activity for fiscal 2025:DICK'S BusinessBeginningStoresNewStoresClosedStoresRelocated /Converted (9)EndingStoresGross Square Footage (10) (11)(in millions)BeginningEndingDICK'S (1)677—(7)(26)64436.334.4DICK'S Field House (1)272—13421.62.4DICK'S House of Sport193—13352.23.8Total DICK'S7235(7)—72140.140.6Other Specialty Concepts
Golf Galaxy (2)1094——1132.42.5Going Going Gone! (3)5011(10)—512.22.3Public Lands3———30.10.1Total Other Specialty Concepts16215(10)—1674.84.9Total DICK'S Business88520(17)—88844.845.5
Foot Locker BusinessBeginningStores (4)NewStoresClosedStores (8)Relocated /Converted (8) (9)EndingStoresGross Square Footage (4) (11)(in millions)BeginningEndingFoot Locker North America7452(13)—7344.34.4Champs Sports376—(5)—3712.22.2Kids Foot Locker3653(6)—3621.31.3WSS151—(8)—1431.91.8North America (5)1,6375(32)—1,6109.79.7Foot Locker Europe (6)5854(16)—5732.32.3Foot Locker Asia Pacific95—(1)—940.40.4atmos30———30——International 7104(17)—6972.82.8Total Owned Stores2,3479(49)—2,30712.512.4Licensed stores (7)24616(8)—2541.11.1Total Foot Locker Business2,59325(57)—2,56113.613.5
(1)Beginning store count and square footage were updated to reflect one DICK'S Field House location that opened in fiscal 2024, which was previously reflected as a DICK'S store.(2)As of January 31, 2026, includes 33 Golf Galaxy Performance Centers, with nine new openings during fiscal 2025, five of which were conversions of prior Golf Galaxy store locations.(3)Beginning store count and square footage were updated to reflect Warehouse Sale locations as described in the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025. As of February 2, 2025, beginning amounts now include 29 Warehouse Sale locations and 1.3 million of related square footage.(4)Beginning stores and square footage reflect acquired Foot Locker stores as of September 8, 2025.(5)Represents store locations in the United States and Canada and related square footage.(6)Represents Foot Locker store locations in Europe, including three Kids Foot Locker stores and related square footage, as of January 31, 2026.(7)Reflects licensed stores operating in the Middle East, Asia and Europe.(8)Store closures for the Foot Locker Business during fiscal 2025 include seven WSS stores identified as part of the Company's review of unproductive assets. Additionally, the Foot Locker Business relocated 35 stores during the current year period consisting of 15 Foot Locker and 15 Kids Foot Locker store locations in North America and five international store locations.(9)Reflects stores converted between concept or prototype through store relocations or remodels as part of the Company's strategy to reposition its store portfolio. In addition to stores that converted between concepts, the Company relocated or remodeled eight stores for the DICK'S Business during the current year period, consisting of five Golf Galaxy and three Going Going Gone! store locations.(10)Includes square footage as of January 31, 2026 related to a Public Lands store closure as we plan to convert it into a DICK'S Field House store during early fiscal 2026.(11)Columns may not recalculate due to rounding.Non-GAAP Financial MeasuresIn addition to reporting the Company's financial results for the fourth quarter and full year 2025 in accordance with generally accepted accounting principles ("GAAP"), the Company also reports certain non-GAAP financial measures. These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income, DICK'S Business non-GAAP basis results, including non-GAAP operating margin, non-GAAP net income, non-GAAP earnings per diluted share and weighted average diluted shares outstanding, non-GAAP earnings per diluted share and net capital expenditures. Management believes these non-GAAP financial measures provide investors with meaningful supplemental information to assist in evaluating the Company's ongoing operations and comparing results across reporting periods.Management further believes that excluding non-cash changes in the fair value of deferred compensation plan investments—which fluctuate with market performance and are offset within other income—enhances investors' understanding of underlying trends in selling, general and administrative expenses. The Company also uses these non-GAAP financial measures internally for budgeting, forecasting and assessing operating performance. These non-GAAP financial measures should be considered in addition to, and not as a substitute for, the Company's GAAP financial results. Because the methods used by the Company to calculate its non-GAAP measures may differ from those used by other companies, the non-GAAP measures presented herein may not be comparable to similarly titled measures of other companies. Reconciliations of the Company's non-GAAP financial measures to the most directly comparable GAAP measures are provided below and are available on the Company's website at investors.DICKS.com.Forward-Looking Statements Involving Known and Unknown Risks and UncertaintiesThis release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Any statements about the Company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond the Company's control. The Company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the Company's future performance, including 2026 outlook and guidance, continued comp growth, and improved gross margin, the benefits of the combination of DICK'S Sporting Goods and Foot Locker (the "Transaction"), including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture that are not historical facts.Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, macroeconomic conditions, including inflationary pressures and elevated interest rates, changes in consumer income and confidence, perception of global economic conditions, geopolitical conflicts and tensions, the threat or outbreak of further conflicts, war, terrorism or public unrest, wage and unemployment levels and public health concerns; intense competition in the sporting goods industry and in retail, including competition for talent and the level of competitive promotional activity and technological innovation; product cost and availability fluctuations due to a variety of factors; risks and costs inherent with international operations; our dependence on consumer discretionary spending and ability to predict or effectively react to changes in consumer demand, lifestyle changes or shopping patterns; risks associated with our vertical brand offerings, including brand strategy and marketing, improved space in-store, expanding product categories, product safety and labeling, product liability and recalls, and specialty concept stores; our ability to protect the reputation of our Company and our brands; short-term impacts of our strategic plans and initiatives, or such plans and initiatives not achieving the desired results within the anticipated time frame or at all; our ability to successfully grow our DICK'S House of Sport, DICK'S Field House and Golf Galaxy Performance Center stores and execute our overall real estate strategy for DICK'S and Foot Locker; unauthorized use or disclosure of sensitive or confidential athlete, teammate, vendor or Company information; disruptions, delays, downtime or other problems with our information systems, including our eCommerce platform and GameChanger, caused by high volumes, design or implementation deficiencies, or platform enhancements as well as associated disruptions to our operations; our ability to attract, train, engage and retain athletes and key teammates, to implement effective succession planning strategies, and to adequately respond to teammate organizing efforts; weather-related risks and seasonal influences resulting from the overall seasonality of certain categories of our business; our issuance of quarterly cash dividends and share repurchases pursuant to our share repurchase programs, if any; our ability to effectively control expenses, manage inventory levels and protect against inventory shrink; the ability of the Foot Locker business to expand its market share in international markets; the technology enablement required to support our omni-channel capabilities; our ability to meet market expectations and the historical and possible future impacts on the price of our common stock; the influence and control of the holders of our Class B common stock, whose interests may differ from those of our other stockholders; our charter's current anti-takeover provisions, which could prevent or delay a change in control of the Company; our dependence on key suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; risks and costs relating to changing global laws, rules, regulations, interpretations and other guidance affecting our business; product safety and labeling concerns; compliance and litigation risks for which we may not have sufficient insurance or other coverage; our ability to secure and protect our intellectual property and defend claims of intellectual property infringement, including with respect to our vertical brands; changes in applicable tax laws, regulations and treaties and their interpretation and application; the effects of the performance of professional sports teams within our core regions of operations and other factors relating to professional sports leagues and key athletes; the impact of evolving environmental, social and governance standards, regulatory requirements, stakeholder expectations and related political and social dynamics; risks related to the Transaction, including effective integration of the Foot Locker business, and other strategic alliances, acquisitions or investments; obligations and other provisions related to our indebtedness, including our senior notes due 2029, 2032 and 2052; and changes in the market value or liquidity of securities we hold and risks associated with our limited degree of control over certain strategic minority investments. These factors are not necessarily all of the factors that could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm our results.For additional information on these and other factors that could affect our actual results, see the risk factors set forth in our filings with the Securities and Exchange Commission (the "SEC"), including our most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and our Quarterly Report on Form 10-Q, filed with the SEC on June 9, 2025, as well as the risks described in our registration statement on Form S-4 and definitive proxy statement/prospectus relating to the Transaction. The Company disclaims and does not undertake any obligation to update or revise any forward-looking statement in this communication, except as required by applicable law or regulation. Forward-looking statements included in this communication are made as of the date of this communication.Conference Call Info The Company will host a conference call today at 10:00 a.m. Eastern Time to discuss the fourth quarter and full year results. Investors will have the opportunity to listen to the earnings conference call over the internet through the Company's website located at investors.DICKS.com. To listen to the live call, please go to the website at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, it will be archived on the Company's website for approximately twelve months.About DICK'S Sporting Goods, Inc.DICK'S Sporting Goods creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, DICK'S is a leading omni-channel retailer and an iconic brand in sport and culture. Its banners include DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone! in addition to the experiential retail concepts DICK'S House of Sport and Golf Galaxy Performance Center. As owner and operator of the Foot Locker Business, including Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos, DICK'S serves the global sneaker community across North America, Europe, Asia and Australia, plus a licensed store presence in Europe, the Middle East and Asia. DICK'S also owns and operates GameChanger, a youth sports mobile platform for live streaming, scheduling, communications and scorekeeping.Driven by its belief that sports have the power to change lives, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Instagram, TikTok, Facebook and X.Contacts:Investor Relations:
Nate Gilch, Vice President of Investor Relations
DICK'S Sporting Goods, Inc.
investors @leeboMedia Relations:
(724) 273-5552 or press@dcsg.com
Category: EarningsDICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME - UNAUDITED(In thousands, except per share data)
13 Weeks Ended
January 31,2026
% of Sales (1)
February 1,2025
% of Sales
Net sales
$ 6,226,054
100.00 %
$ 3,893,649
100.00 %Cost of goods sold, including occupancy and distribution costs
4,456,010
71.57
2,532,391
65.04
GROSS PROFIT
1,770,044
28.43
1,361,258
34.96
Selling, general and administrative expenses
1,555,298
24.98
963,580
24.75Merger and integration costs
17,614
0.28
—
—Pre-opening expenses
12,623
0.20
10,686
0.27
OPERATING INCOME
184,509
2.96
386,992
9.94
Interest expense
17,667
0.28
12,683
0.33Other (income) expense
(13,185)
(0.21)
(22,963)
(0.59)
PRE-TAX INCOME
180,027
2.89
397,272
10.20
Provision for income taxes
51,690
0.83
97,303
2.50
NET INCOME
$ 128,337
2.06 %
$ 299,969
7.70 %
EARNINGS PER COMMON SHARE:
Basic
$ 1.44
$ 3.73
Diluted
$ 1.41
$ 3.62
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
88,981
80,453
Diluted
90,944
82,779
(1) Column does not add due to rounding DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME - UNAUDITED(In thousands, except per share data)
52 Weeks Ended
January 31,2026
% of Sales (1)
February 1,2025
% of Sales
Net sales
$ 17,215,120
100.00 %
$ 13,442,849
100.00 %Cost of goods sold, including occupancy and distribution costs
11,547,858
67.08
8,617,153
64.10
GROSS PROFIT
5,667,262
32.92
4,825,696
35.90
Selling, general and administrative expenses
4,338,162
25.20
3,294,272
24.51Merger and integration costs
164,191
0.95
—
—Pre-opening expenses
69,000
0.40
57,492
0.43
OPERATING INCOME
1,095,909
6.37
1,473,932
10.96
Interest expense
64,263
0.37
52,987
0.39Other (income) expense
(110,327)
(0.64)
(98,088)
(0.73)
PRE-TAX INCOME
1,141,973
6.63
1,519,033
11.30
Provision for income taxes
292,734
1.70
353,725
2.63
NET INCOME
$ 849,239
4.93 %
$ 1,165,308
8.67 %
EARNINGS PER COMMON SHARE:
Basic
$ 10.22
$ 14.48
Diluted
$ 9.97
$ 14.05
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic
83,135
80,468
Diluted
85,144
82,929
(1) Column does not add due to rounding DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETS - UNAUDITED(In thousands)
January 31,2026
February 1,2025ASSETS
CURRENT ASSETS:
Cash and cash equivalents
$ 1,353,226
$ 1,689,940Accounts receivable, net
475,852
214,250Income taxes receivable
68,455
4,920Inventories, net
4,907,823
3,349,830Prepaid expenses and other current assets
299,435
158,767Total current assets
7,104,791
5,417,707Property and equipment, net
3,512,776
2,069,914Operating lease assets
4,594,670
2,367,317Intangible assets, net
768,575
58,598Goodwill
864,047
245,857Deferred income taxes
82,501
52,684Other assets
484,139
246,617TOTAL ASSETS
$ 17,411,499
$ 10,458,694
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable
$ 1,986,990
$ 1,497,743Accrued expenses
1,115,306
653,324Operating lease liabilities
1,004,909
503,236Income taxes payable
7,533
30,718Deferred revenue and other liabilities
528,820
395,041Total current liabilities
4,643,558
3,080,062LONG-TERM LIABILITIES:
Revolving credit borrowings
—
—Long-term debt and financing lease obligations
1,905,299
1,484,217Long-term operating lease liabilities
4,836,435
2,500,307Deferred income taxes
203,920
—Other long-term liabilities
282,167
195,844Total long-term liabilities
7,227,821
4,180,368COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Common stock
653
567Class B common stock
236
236Additional paid-in capital
3,724,836
1,495,329Retained earnings
6,827,900
6,392,513Accumulated other comprehensive income (loss)
17,813
(755)Treasury stock, at cost
(5,031,318)
(4,689,626)Total stockholders' equity
5,540,120
3,198,264TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY
$ 17,411,499
$ 10,458,694 DICK'S SPORTING GOODS, INC. AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED(In thousands)
Fiscal Year Ended
January 31,2026
February 1,2025CASH FLOWS FROM OPERATING ACTIVITIES:
Net income
$ 849,239
$ 1,165,308Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization
488,630
400,409Amortization of deferred financing fees and debt discount
11,709
2,333Deferred income taxes
99,816
(14,838)Stock-based compensation
123,667
71,001Other, net
(24,930)
(6,565)Changes in assets and liabilities:
Accounts receivable
(17,957)
(11,865)Inventories
181,316
(501,033)Prepaid expenses and other assets
(70,724)
(57,159)Accounts payable
(122,001)
185,883Accrued expenses
(90,018)
58,941Income taxes payable / receivable
(11,626)
(26,155)Construction allowances provided by landlords
161,659
76,287Deferred revenue and other liabilities
39,976
41,536Operating lease assets and liabilities
(81,413)
(72,248)Net cash provided by operating activities
1,537,343
1,311,835CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures
(1,137,176)
(802,565)Cash acquired from acquisition of Foot Locker, net of cash paid
257,095
—Proceeds from sale of other assets
—
11,872Other investing activities
(174,408)
(5,865)Net cash used in investing activities
(1,054,489)
(796,558)CASH FLOWS FROM FINANCING ACTIVITIES:
Payment of bridge facility financing fees
(7,863)
—Payments on finance lease obligations
(1,142)
—Transaction costs for debt issuance
(1,000)
—Proceeds from exercise of stock options
1,514
18,000Minimum tax withholding requirements
(68,815)
(42,515)Cash paid for treasury stock
(347,132)
(263,021)Cash dividends paid to stockholders
(413,853)
(361,727)Increase in bank overdraft
16,985
23,132Net cash used in financing activities
(821,306)
(626,131)EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
1,738
(426)NET DECREASE IN CASH AND CASH EQUIVALENTS
(336,714)
(111,280)CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD
1,689,940
1,801,220CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 1,353,226
$ 1,689,940 DICK'S SPORTING GOODS, INC.GAAP to NON-GAAP RECONCILIATIONS - UNAUDITED
Non-GAAP Net Income and Earnings Per Share Reconciliations(dollars in thousands, except per share amounts)
13 Weeks Ended January 31, 2026
GrossprofitSelling,general andadministrativeexpensesOperatingincome InterestexpenseOther(income)expense Pre-taxincomeNetincome (6)EarningsperdilutedshareGAAP Basis$ 1,770,044$ 1,555,298$ 184,509$ 17,667$ (13,185)$ 180,027$ 128,337$ 1.41% of Net Sales28.43 %24.98 %2.96 %0.28 %(0.21) %2.89 %2.06 %
Foot Locker acquisition- related costs (1)217,926—235,541——235,541175,914
Asset impairment charge (2)—(13,375)13,375——13,3759,898
Deferred compensation plan adjustments (3)—(5,193)5,193—5,193——
Non-GAAP Basis$ 1,987,970$ 1,536,730$ 438,618$ 17,667$ (7,992)$ 428,943$ 314,149$ 3.45% of Net Sales31.93 %24.68 %7.04 %0.28 %(0.13) %6.89 %5.05 %
Contribution from Foot Locker acquisition (4)(544,601)(549,476)5,893(5,798)1,62910,06214,953
Non-GAAP basis for DICK'S Business (5)$ 1,443,369$ 987,254$ 444,511$ 11,869$ (6,363)$ 439,005$ 329,102$ 4.05% of Net Sales for DICK'S Business35.63 %24.37 %10.97 %0.29 %(0.16) %10.84 %8.12 %
(1)Foot Locker acquisition-related charges of $235.5 million includes $217.9 million to write down and liquidate inventory from the Company's review of the Foot Locker Business and $17.6 million of merger and integration costs.(2)Represents non-cash asset write-down following the abandonment of a technology service contract.(3)Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.(4)Reflects the operating results from Foot Locker subsequent to the acquisition close date.(5)Reflects the results of the DICK'S Business, excluding the dilutive effect of 9.6 million shares issued in connection with the Foot Locker acquisition on weighted average diluted shares outstanding.(6)Except for approximately $0.8 million of non-deductible merger and integration costs, the provision for income taxes for non-GAAP adjustments was tax effected at the statutory rate of the applicable tax jurisdiction, which approximates 25%.
52 Weeks Ended January 31, 2026
GrossprofitSelling,general andadministrativeexpensesOperatingincomeInterestexpenseOther(income)expense Pre-taxincomeNetIncome (7)EarningsperdilutedshareGAAP Basis$ 5,667,262$ 4,338,162$ 1,095,909$ 64,263$ (110,327)$ 1,141,973$ 849,239$ 9.97% of Net Sales32.92 %25.20 %6.37 %0.37 %(0.64) %6.63 %4.93 %
Foot Locker acquisition- related costs (1)217,926—382,118(7,863)—389,981307,315
Asset impairment charge (2)—(13,375)13,375——13,3759,898
Investment gains (3)————42,241(42,241)(42,241)
Deferred compensation plan adjustments (4)—(24,821)24,821—24,821——
Non-GAAP Basis$ 5,885,188$ 4,299,966$ 1,516,223$ 56,400$ (43,265)$ 1,503,088$ 1,124,211$ 13.20% of Net Sales34.19 %24.98 %8.81 %0.33 %(0.25) %8.73 %6.53 %
Contribution from Foot Locker acquisition (5)(758,889)(809,395)52,220(9,225)3,60657,83960,003
Non-GAAP basis for DICK'S Business (6)$ 5,126,299$ 3,490,571$ 1,568,443$ 47,175$ (39,659)$ 1,560,927$ 1,184,214$ 14.58% of Net Sales for DICK'S Business36.33 %24.74 %11.12 %0.33 %(0.28) %11.06 %8.39 %
(1)Foot Locker acquisition-related charges of $390.0 million includes $217.9 million to write down and liquidate inventory, merger and integration costs of $164.2 million, which includes legal and regulatory fees, other professional services and other costs related to the Foot Locker acquisition, and $7.9 million of deferred financing amortization on a bridge facility.(2)Represents non-cash asset write-down following the abandonment of a technology service contract.(3)Includes non-cash gains from non-operating investment in Foot Locker equity securities.(4)Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.(5)Reflects the operating results from Foot Locker subsequent to the acquisition close date.(6)Reflects the results of the DICK'S Business, excluding the dilutive effect of 9.6 million shares issued in connection with the Foot Locker acquisition on weighted average diluted shares outstanding.(7)Except for approximately $65.1 million of non-deductible merger and integration costs and a $10.8 million favorable tax impact from the gains on the Company's pre-existing Foot Locker investment that are not taxable following completion of the acquisition, the provision for income taxes for non-GAAP adjustments was tax effected at the statutory rate of the applicable tax jurisdiction, which approximates 25%.
13 Weeks Ended February 1, 2025
Selling, generalandadministrativeexpensesOperatingincomeOther(income)expensePre-taxincomeNet incomeEarningsper dilutedshareGAAP Basis$ 963,580$ 386,992$ (22,963)$ 397,272$ 299,969$ 3.62% of Net Sales24.75 %9.94 %(0.59) %10.20 %7.70 %
Deferred compensation plan adjustments (1)(6,015)6,0156,015——
Non-GAAP Basis$ 957,565$ 393,007$ (16,948)$ 397,272$ 299,969$ 3.62% of Net Sales24.59 %10.09 %(0.44) %10.20 %7.70 %
(1) Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.
52 Weeks Ended February 1, 2025
Selling, generalandadministrativeexpensesOperatingincome Other(income)expensePre-taxincomeNet incomeEarningsper dilutedshareGAAP Basis$ 3,294,272$ 1,473,932$ (98,088)$ 1,519,033$ 1,165,308$ 14.05% of Net Sales24.51 %10.96 %(0.73) %11.30 %8.67 %
Deferred compensation plan adjustments (1)(23,637)23,63723,637——
Non-GAAP Basis$ 3,270,635$ 1,497,569$ (74,451)$ 1,519,033$ 1,165,308$ 14.05% of Net Sales24.33 %11.14 %(0.55) %11.30 %8.67 %
(1) Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.
Gross Capital Expenditures to Net Capital Expenditures Reconciliation(in thousands)
The following table represents a reconciliation of the Company's gross capital expenditures to its capital expenditures, net of construction allowances.
Fiscal Year Ended
January 31,2026
February 1,2025Gross capital expenditures
$ (1,137,176)
$ (802,565)Construction allowances provided by landlords
161,659
76,287Net capital expenditures
$ (975,517)
$ (726,278)
Reconciliation of Non-GAAP Operating Income and Earnings Per Diluted Share Guidance(dollars in millions, except per share amounts)
52 Weeks Ended January 30, 2027
Low End
High End
OperatingincomeEarnings perdiluted share (3)
OperatingincomeEarnings perdiluted share (3)GAAP Basis$ 1,710$ 13.70
$ 1,833$ 14.70Foot Locker acquisition-related costs (1)1501.24
1501.24Litigation and other settlements (2)(175)(1.43)
(175)(1.43)Non-GAAP Basis$ 1,685$ 13.50
$ 1,808$ 14.50
(1)Adjustment eliminates the impact of future Foot Locker acquisition-related charges. Refer to "Acquisition of Foot Locker" section above for additional information.(2)Represents income received as a result of settlement on credit card interchange fees and from a landlord for early lease termination of a store location.(3)Column does not add due to rounding.
View original content to download multimedia:https://www.prnewswire.com/news-releases/dicks-sporting-goods-inc-reports-fourth-quarter-and-full-year-2025-results-delivers-record-setting-fourth-quarter-sales-for-the-dicks-business-302711671.htmlSOURCE DICK'S Sporting Goods, Inc.
Original: DICK'S Sporting Goods, Inc. Reports Fourth Quarter and Full Year 2025 Results; Delivers Record-Setting Fourth Quarter Sales for the DICK'S Business
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