Dick's Raises Comp Guidance After 6% Q1 Gain, Plans $1B and $400M Capex
DKS•Dick's raised its full-year comp guidance for DICK'S and Foot Locker after a 6% same-store gain in Q1 2026 and 1.5 million athletes added. Foot Locker's Fast Break stores delivered double-digit comps, and Dick's forecasts fiscal 2026 capex of $1 billion for DICK'S and $400 million for Foot Locker.
1. Q1 Sales Performance
Dick's reported a 6% comp increase in Q1 2026, driven by broad-based strength in footwear, apparel and hardlines. Consumer demand remained robust with no signs of trading down, and the retailer added 1.5 million new athletes to its database.
2. Raised Full-Year Guidance
Management lifted the low end of its full-year comp-sales guidance for both the DICK'S and Foot Locker banners. The revision reflects confidence in long-term strategies such as differentiated products and portfolio repositioning with House of Sport and Field House concepts.
3. CapEx Outlook
The company forecasts fiscal 2026 capital expenditures of approximately $1.0 billion for DICK'S and $400 million for Foot Locker, down $100 million from prior outlook. The reduction is driven by productivity initiatives and a focus on capital-light store investments for the Fast Break concept.
4. Foot Locker Turnaround Progress
Foot Locker's Fast Break stores delivered double-digit comps in Q1, supported by cleaned-up inventory and rebuilt vendor relationships. Management expects a sales inflection during the back-to-school season when it will have full control over product assortments.
