Business
Dick’s Sporting Goods raises guidance after second-quarter earnings beat
A Dick’s Sporting Goods store is shown in Oceanside, California, U.S., May 15, 2025.
Mike Blake | Reuters
Dick’s Sporting Goods raised its full-year sales and earnings guidance after delivering fiscal second-quarter results that beat expectations.
The company is now expecting comparable sales to grow between 2% and 3.5%, up from a previous range of 1% and 3% and ahead of analyst estimates of 2.9%, according to StreetAccount.
Dick’s said its earnings per share are now expected to be between $13.90 and $14.50, up from a previous range of $13.80 to $14.40. Analysts were expecting $14.39 per share, according to LSEG.
Here’s how the company performed compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: $4.38 adjusted vs. $4.32 expected
- Revenue: $3.65 billion vs. $3.63 billion expected
The company’s reported net income for the three-month period that ended Aug. 2 was $381 million, or $4.71 per share, compared with $362 million, or $4.37 per share, a year earlier. Excluding one-time items related to its acquisition of Foot Locker and other costs, Dick’s posted earnings per share of $4.38.
Sales rose to $3.65 billion, up about 5% from $3.47 billion a year earlier. During the quarter, comparable sales also grew 5%, well ahead of expectations of 3.2%, according to StreetAccount.
“Our performance shows how well our long-term strategies are working, the strength and resilience of our operating model and the impact of our team’s consistent execution,” CEO Lauren Hobart said in a news release. “Our Q2 comps increased 5.0%, with growth in average ticket and transactions, and we drove second quarter gross margin expansion.”
While Dick’s comparable sales guidance came in ahead of expectations, its full-year revenue outlook was slightly below estimates. The company said it’s expecting revenue to be between $13.75 billion and $13.95 billion, below estimates of $14 billion, according to LSEG.
Dick’s said its raised profit guidance includes the impact of tariffs that are currently in effect. In an interview with CNBC’s Courtney Reagan, Dick’s executive chairman Ed Stack said the company has implemented some price increases to offset the impact of higher duties but has been “surgical” in its approach.
“We’ve been able to do what we need to from a pricing standpoint, whether that’s from the national brands or from our own brands, and then other places where we’ve held price, we’ve been able to do that, and we’ve offset it someplace else, which is what you have to do in these in these situations, and the team’s done a great job doing that,” Stack said.
Hobart said during Thursday’s call with analysts that the retailer hasn’t seen its shoppers balking at the “small-level” price increases that have gone into effect.
Hobart said broadly Dick’s hasn’t seen any signs of a consumer spending slowdown as a result of tariffs. She said Dick’s saw growth across all of its key segments during the quarter.
Foot Locker tie-up
The company said its guidance doesn’t include any potential impact from its acquisition of Foot Locker, such as costs or results from the planned takeover, which is expected to close on Sept. 8.
In May, Dick’s announced it would be acquiring its longtime rival for $2.4 billion, giving it a competitive edge in the wholesale sneaker market, most importantly for Nike products, along with a bigger global presence.
Nike is a critical brand partner for both Dick’s and Foot Locker and, at times, their performance is reliant on how well the sneaker brand is doing. During the quarter, Stack said new drops from Nike’s revamped running portfolio, including the Pegasus Premium and the Vomero Plus, are performing so well, it can’t keep the shoes in stock.
“Anything that’s new, innovative and kind of the cool factor, is blowing out,” Stack said.
However, the acquisition also comes with risks. Foot Locker’s business has been in the midst of an ambitious turnaround under CEO Mary Dillon but the company is still struggling.
In the quarter ended Aug. 2, Foot Locker’s sales fell 2.4% and it posted a loss of $38 million. The company faces a range of existential challenges, including its heavy mall footprint, its small online business and a core consumer that often has less discretionary income than the core Dick’s consumer.
Once the businesses are combined, Foot Locker’s struggles could ultimately weigh on Dick’s overall results. On the other hand, the combined company will become the No. 1 seller of athletic footwear in the U.S., which will allow it to better compete against its next biggest rival, JD Sports.
Stack acknowledged to CNBC that Foot Locker’s earnings “were not great” but said the company has a strategy.
“We have a game plan of how to turn this around,” Stack told Reagan. “We think that we can return Foot Locker to its rightful place in the top of this industry and we’re excited to roll up our sleeves and get started with that.”
Dick’s plans to operate Foot Locker as a separate entity. Moving forward, Stack said the company plans to break out details on how each brand is performing when releasing quarterly results. It’ll provide separate details on how Dick’s performed and how Foot Locker performed so investors can get a sense of what’s going on in each part of the business.
Hobart said during Thursday’s earnings call that as part of the acquisition, Dick’s plans to invest in Foot Locker stores and marketing. She also said Dick’s sees opportunities in merchandising and bringing in a new assortment of products.
“As Foot Locker becomes part of the Dick’s family, we are an even more important brand to our wholesale partners, and that’s part of the thesis,” Hobart said.
Earlier this week, Dick’s said it had received all regulatory approvals associated with the transaction. It’s unclear if it had to divest any stores to satisfy the FTC’s requirements.
— CNBC’s Ali McCadden contributed to this report.
Business
Budget 2026 Live Updates: TCS On Overseas Tour Packages Slashed To 2%; TDS On Education LRS Eased
Union Budget 2026 Live Updates: Union Budget 2026 Live Updates: Finance Minister Nirmala Sitharaman is presenting the Union Budget 2026-27 in Parliament, her record ninth budget speech. During her Budget Speech, the FM will detail budgetary allocations and revenue projections for the upcoming financial year 2026-27. Sitharaman is notably dressed in a Kanjeevaram Silk saree, a nod to the traditional weaving sector in poll-bound Tamil Nadu.
The budget comes at a time when there is geopolitical turmoil, economic volatility and trade war. Different sectors are looking to get some support with new measures and relaxations ahead of the budget, especially export-oriented industries, which have borne the brunt of the higher US tariffs being imposed last year by the Trump administration.
On January 29, 2026, Sitharaman tabled the Economic Survey 2025-26, a comprehensive snapshot of the country’s macro-economic situation, in Parliament, setting the stage for the budget and showing the government’s roadmap. The survey projected that India’s economy is expected to grow 6.8%-7.2% in FY27, underscoring resilience even as global economic uncertainty persists.
Budget 2026 Expectations
Expectations across key sectors are taking shape as stakeholders look to the Budget for support that sustains growth, strengthens jobs and eases financial pressures:
Taxpayers & Households: Many taxpayers want practical improvements to the income tax structure that preserve simplicity while supporting long-term financial planning — including broader deductions for home loan interest and diversified retirement savings options.
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Businesses & Industry: With industrial output and investment showing resilience, firms are looking for policies that bolster capital formation, ease compliance, and expand infrastructure spending — especially in manufacturing and technology-driven sectors that promise jobs and exports.
Startups & Innovation: The startup ecosystem expects incentives around employee stock options and capital access, along with regulatory tweaks that encourage risk capital and talent retention without increasing compliance burdens.
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The Budget speech will be broadcast live here and on all other news channels. You can also catch all the updates about Budget 2026 on News18.com. News18 will provide detailed live blog updates on the Budget speech, and political, industry, and market reactions.
We are providing a full, detailed coverage of the union budget 2026 here, with a lot of insights, experts’ views and analyses. Stay tuned with us to get latest updates.
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Here are the Live Updates of Union Budget 2026:
New Delhi: The Cabinet on Sunday approved the Union Budget 2026-27 during a meeting in Parliament chaired by Prime Minister Narendra Modi. A meeting of the Union Cabinet was held at Sansad Bhawan at 10 a.m., and after the Cabinet’s approval, Finance Minister Nirmala Sitharaman proceeded to Parliament to present the Budget.
Earlier, FM Sitharaman met President Droupadi Murmu and offered her a copy of the digital budget. The President also offered ‘dahi-cheeni’ (curd and sugar) to Sitharaman when she arrived at the Rashtrapati Bhavan. The Finance Minister was seen carrying her trademark ‘bahi-khata’, a tablet wrapped in a red-coloured cloth bearing a golden-coloured national emblem on it.
Minister of State for Finance Pankaj Chaudhary, Chief Economic Advisor Dr V. Anantha Nageswaran, Central Board of Direct Taxes (CBDT) Chairman Ravi Agrawal and other officials were seen accompanying the Finance Minister. Sitharaman was set to present her ninth consecutive Union Budget in the Lok Sabha. In 2021, she switched to using a digital tablet to carry the Budget papers, further promoting a modern and eco-friendly approach.
The ‘bahi-khata’ is a red pouch that holds the digital tablet containing the Budget documents. This year, Sitharaman opted for a deep maroon Kanjeevaram saree from Tamil Nadu. The saree featured a deep maroon base with a contrasting border and subtle gold detailing, paired with a yellow blouse.
The Budget is likely to strike a deft balance of sustaining growth momentum and maintaining fiscal consolidation. It also needs to address near-term challenges emanating from unprecedented geopolitical flux, said economists. According to economists, the budget is likely to focus more on capital expenditure, especially in sectors deemed to be strategically important owing to prevailing geopolitical compulsions.
While the FY26 Budget was more tilted towards stimulating middle-class consumption with tax reliefs, the FY27 Budget’s approach to stimulating consumption will be selective, they added.
Business
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In the previous budget, the Bharatiya Janata Party government announced plans to add 75,000 medical seats over five years and strengthen infrastructure at IITs established after 2014. For 2025, the Centre had earmarked Rs 1,28,650.05 crore for education, a 6.65 percent rise compared to the previous year.
Meanwhile, the Economic Survey 2025–26, tabled in the Parliament of India, points to persistent challenges in school education. While enrolment at the school level is close to universal, this has not translated into consistent learning outcomes, especially beyond elementary classes. The net enrolment rate drops sharply at the secondary level, standing at just over 52 per cent.
The survey also flags concerns over student retention after Class 8, particularly in rural areas. It notes an uneven spread of schools, with a majority offering only foundational and preparatory education, while far fewer institutions provide secondary-level schooling. This gap, the survey suggests, is a key reason behind low enrolment in higher classes.
Stay tuned to this LIVE blog for all the latest updates on the Education Budget 2026 LIVE.
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