Dick’s Sporting Goods has seen its profits fall by 57%, due largely to its acquisition of Foot Locker, CNBC reported.
For fiscal year 2026, Dick’s is expecting adjusted earnings per share to be between $13.50 and $14.50, weaker than the $14.67 analysts had expected, according to LSEG.
While there will be more costs associated with the acquisition during the current fiscal year, Executive Chairman Ed Stack told CNBC that Foot Locker’s rightsizing is “basically done” and the brand is expected to return to growth.
Sales rose to $6.23 billion, up from $3.89 billion a year earlier, when the business didn’t include Foot Locker.
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Six months ago, Dick’s acquired Foot Locker for $2.5 billion.
