Dick’s Sporting Goods plans to close Foot Locker stores after completing the acquisition to avoid profit drag in fiscal 2026. Foot Locker’s comparable sales are expected to decline in current quarter with margins falling 10-15 points. Dick’s comparable sales rose 5.7% in the quarter, exceeding expectations. Full-year earnings per share expected to be $14.25-$14.55.

Dick’s acquisition of Foot Locker boosted sales to $4.17 billion, up 36% from the previous year. However, Foot Locker has underperformed due to lower-income consumer base and economic conditions. CEO Mary Dillon initiated changes in stores to improve sales, including merchandising and product selection adjustments. Dick’s optimistic about changes made to Foot Locker stores.

Read more at CNBC: Dick’s Sporting Goods (DKS) earnings Q3 2025