The US sporting goods supplier Dick’s Sporting Goods Inc. was able to achieve a significant increase in sales in the first quarter of the 2026/27 financial year. This was mainly due to the takeover of the Foot Locker retail chain last year.
According to a statement published on Wednesday, group sales in the 13 weeks to May 2 were around $5.16 billion (4.44 billion euros). This corresponded to an increase of 62.7 percent compared to the same quarter of the previous year. Newcomer Foot Locker contributed $1.79 billion, while sales in the core segment Dick’s Sporting Goods grew by six percent to $3.38 billion.
Reported net profit rose 21 percent to $320 million (€275 million). However, adjusted for special effects, it fell by five percent to $262 million.
The group sees progress at Foot Locker
Executive Chairman Ed Stack highlighted the “encouraging” performance at Foot Locker. On a pro forma basis, the chain’s revenues rose by 0.6 percent in the past quarter, after falling by 2.9 percent in the same period last year. Foot Locker also made a profit.
The company also announced that it has expanded its “Fast Break” modernization program to 100 Foot Locker locations. The goal is to reach 250 stores by the back-to-school season. The “capital-friendly” initiative led to double-digit improvements in comparable sales and sales margins, the company said.
As part of an ongoing review of unproductive assets, the group is seeking to reduce inventory and close underperforming retail locations. In the past quarter, 85 Foot Locker stores were closed, including 62 units identified as unproductive. As of May 2nd, the company operated a total of 3,115 stores worldwide.
In light of recent developments, management updated its annual forecasts. In the Dick’s Business segment, it now expects sales to grow by 2.5 to 4.0 percent on a comparable basis. An increase of 2.0 to 4.0 percent was previously expected. Foot Locker is now aiming for corresponding growth of 1.5 to 3.0 percent. Previously, the target range was between 1.0 and 3.0 percent.
Total group sales are expected to reach between $22.1 and $22.4 billion in the current financial year. The forecast for operating profit adjusted for special items, which had previously been between 1.68 and 1.81 billion US dollars, was increased to 1.71 to 1.83 billion US dollars.
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