DICK'S Sporting Goods, Inc. Reports First Quarter Results

About this update from Dick's Sporting Goods Inc

– 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 raisi...

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