Dick's Sporting Goods Lowers Its Yearly Expectations as Foot Locker Purchase Disappoints

Dick's Sporting Goods lowered its yearly sales forecast on August 25, 2026. Shoppers are buying fewer sneakers and athletic clothes, and Foot Locker — which Dick's bought for $2.4 billion about 15 months ago — isn't growing as hoped. Analyst John Kernan called the purchase a "strategic mistake." Fewer mall visits and weak shoe sales worsen the strain.