"We're very proud of our company's Q4 results. In the DICK'S Business, our strong execution powered a great holiday season and another strong quarter with comp growth over 3% and double-digit non-GAAP EPS growth. It was a terrific year overall with comps of 4.5%, gross margin expansion, and non-GAAP operating margin of over 11%.  DICK'S and Foot Locker are perfectly positioned at the intersection of sport and culture which is becoming an even stronger part of everyday life. For 2026, we expect to drive continued comp growth, strategic expansion of our square footage, and strong profitability for the DICK'S Business. We also look forward to returning the Foot Locker Business to both top-line and bottom-line growth in 2026. We have deep conviction in the tremendous opportunity ahead for our entire company."

(A)

Results described by management for the "DICK'S Business" represent the existing DICK'S Sporting Goods operations, which includes the DICK'S Sporting Goods, Golf Galaxy, Going Going Gone! and Public Lands banners, as well as GameChanger. The results for the "Foot Locker Business" refer to our newly acquired operations, including the Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos banners. Foot Locker will not be included in quarterly comparable sales until the fourth quarter of fiscal 2026 and full year comparable sales in fiscal 2027.

(B)

Non-GAAP earnings per diluted share results exclude Foot Locker investment gains and acquisition-related costs, and an asset impairment charge. Earnings per diluted share results for the DICK'S Business exclude the dilutive effect of the 9.6 million shares issued as part of the Foot Locker acquisition. For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations."

Fourth Quarter Operating Results

(in millions, except percentage and per share data)

13 Weeks Ended

Change ⁽¹⁰⁾

January 31,

2026

February 1,

2025

Consolidated GAAP

Net sales

$

6,226

$

3,894

$

2,332

59.9 %

Operating income (% of net sales) ⁽¹⁾

3.0 %

9.9 %

(698) bps

Effective tax rate

28.7 %

24.5 %

422 bps

Net income

$

128

$

300

$

(172)

(57) %

Weighted average diluted shares outstanding

91

83

8

10 %

Earnings per diluted share

$

1.41

$

3.62

$

(2.21)

(61) %

Consolidated Non-GAAP ⁽²⁾

Operating income (% of net sales) ⁽¹⁾

7.0 %

10.1 %

(305) bps

Effective tax rate

26.8 %

24.5 %

227 bps

Net income

$

314

$

300

$

14

5 %

Weighted average diluted shares outstanding

91

83

8

10 %

Earnings per diluted share

$

3.45

$

3.62

$

(0.17)

(5) %

Non-GAAP DICK'S Business ⁽²⁾

Comparable sales ⁽³⁾

3.1 %

6.6 %

Operating income (% of net sales) ⁽¹⁾

11.0 %

10.1 %

88 bps

Effective tax rate

25.0 %

24.5 %

54 bps

Net income

$

329

$

300

$

29

10 %

Weighted average diluted shares outstanding ⁽⁴⁾

81

83

(2)

(2) %

Earnings per diluted share ⁽⁴⁾

$

4.05

$

3.62

$

0.43

12 %

Year-to-Date Operating Results

 (in millions, except percentage and per share data)

52 Weeks Ended

Change ⁽¹⁰⁾

January 31,

2026

February 1,

2025

Consolidated GAAP

Net sales

$

17,215

$

13,443

$

3,772

28.1 %

Operating income (% of net sales) ⁽¹⁾

6.4 %

11.0 %

(460) bps

Effective tax rate

25.6 %

23.3 %

235 bps

Net income

$

849

$

1,165

$

(316)

(27) %

Weighted average diluted shares outstanding

85

83

2

3 %

Earnings per diluted share

$

9.97

$

14.05

$

(4.08)

(29) %

Consolidated Non-GAAP ⁽²⁾

Operating income (% of net sales) ⁽¹⁾

8.8 %

11.1 %

(233) bps

Effective tax rate

25.2 %

23.3 %

192 bps

Net income

$

1,124

$

1,165

$

(41)

(4) %

Weighted average diluted shares outstanding

85

83

2

3 %

Earnings per diluted share

$

13.20

$

14.05

$

(0.85)

(6) %

Non-GAAP DICK'S Business ⁽²⁾

Comparable sales ⁽³⁾

4.5 %

5.2 %

Operating income (% of net sales) ⁽¹⁾

11.1 %

11.1 %

(2) bps

Effective tax rate

24.1 %

23.3 %

85 bps

Net income

$

1,184

$

1,165

$

19

2 %

Weighted average diluted shares outstanding ⁽⁴⁾

81

83

(2)

(2) %

Earnings per diluted share ⁽⁴⁾

$

14.58

$

14.05

$

0.53

4 %

Balance Sheet

(in millions)

As of

January 31,

2026

As of

February 1,

2025

$

Change ⁽¹⁰⁾

%

Change ⁽¹⁰⁾

Cash and cash equivalents

$

1,353

$

1,690

$

(337)

(20) %

Inventories, net ⁽⁵⁾

$

4,908

$

3,350

$

1,558

47 %

Long-term debt and financing lease obligations ⁽⁶⁾

$

1,905

$

1,484

$

421

28 %

Capital Allocation

(in millions)

52 Weeks Ended

$

Change ⁽¹⁰⁾

%

Change ⁽¹⁰⁾

January 31,

2026

February 1,

2025

Share repurchases ⁽⁷⁾

$

342

$

268

$

74

28 %

Dividends paid ⁽⁸⁾

$

414

$

362

$

52

14 %

Gross capital expenditures

$

1,137

$

803

$

335

42 %

Net capital expenditures ^{(2) (9)}

$

976

$

726

$

249

34 %

(1)

Also referred to by management as operating margin.

(2)

For additional information, see the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations." In the fiscal 2024 period, there were no non-GAAP adjustments to reported net income or earnings per diluted share.

(3)

Foot Locker will be included in the quarterly comparable store calculation beginning in the fourth quarter of fiscal 2026, which is when these stores will commence their 14th full month of operations following the date of acquisition. Additionally, beginning in fiscal 2025, we revised our method for calculating comparable sales to include Warehouse Sale stores beginning in the stores' 14th full month of operations, similar to our other store locations. Prior year information has been revised to reflect this change for comparability purposes. See additional details as furnished in Exhibit 99.2 of the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025.

(4)

Weighted average diluted shares outstanding and earnings per diluted share for the DICK'S Business excludes the dilutive effect of the 9.6 million shares issued as part of the Foot Locker acquisition.

(5)

Inventories, net as of January 31, 2026 includes $3.4 billion for the DICK'S Business and $1.5 billion for the Foot Locker Business. Inventory increased 1% for the DICK'S Business as compared to February 1, 2025.

(6)

Current year balance includes $384.5 million of carrying value for senior notes due 2029 and $35.6 million for the long-term portion of financing lease obligations acquired in connection with the Foot Locker acquisition. The Company had no outstanding borrowings under its revolving credit facility in 2025 and 2024.

(7)

During the 52 weeks ended January 31, 2026, the Company repurchased 1.6 million shares of its common stock under its previously announced share repurchase program at an average price of $216.01 per share, for a total cost of $342.1 million, and has $3.2 billion remaining under existing share repurchase authorizations as of January 31, 2026. The Company also paid $5 million during fiscal 2025 for shares repurchased during fiscal 2024.

(8)

The Company declared and paid quarterly dividends of $1.2125 per share in fiscal 2025 and $1.10 per share in fiscal 2024.

(9)

Net capital expenditures for the year ended January 31, 2026 totaled $892.0 million for the DICK'S Business and $83.5 million for the Foot Locker Business.

(10)

Column may not recalculate due to rounding.

Metric

Consolidated Full Year 2026 Outlook

Net sales

• $22.1 billion to 22.4 billion

Operating income

• $1.71 billion to 1.83 billion
• $1.68 billion to 1.81 billion on a non-GAAP basis ⁽¹⁾ 

Earnings per diluted share

• $13.70 to 14.70
  • Based on approximately 91 million diluted shares outstanding, which includes the dilutive impact of the 9.6 million shares issued in connection with the Foot Locker acquisition
  • Based on an effective tax rate of approximately 25.5%
• $13.50 to 14.50 on a non-GAAP basis ⁽¹⁾

Capital expenditures

• Approximately $1.7 billion on a gross basis
• Approximately $1.5 billion on a net basis 

(1)

Refer to the section of this release titled "Non-GAAP Financial Measures" and GAAP to non-GAAP reconciliations included in tables later in this release under the heading "GAAP to Non-GAAP Reconciliations."

Metric

Full Year 2026 Outlook

DICK'S Business

Foot Locker Business

Net sales

• $14.5 billion to 14.7 billion 

• $7.6 billion to 7.7 billion 

Comparable sales ⁽¹⁾

• Positive 2.0% to positive 4.0% 

• Positive 1.0% to positive 3.0% ⁽¹⁾ 

Segment profit ⁽²⁾

• $1.58 billion to 1.66 billion 

• $100 million to 150 million 

Segment profit ⁽²⁾

(% of net sales)

• 11.0% to 11.2% 

• 1.3% to 1.9% 

(1)

Comparable sales outlook for the Foot Locker Business is on a proforma basis, as Foot Locker will be included in the quarterly comparable store calculation beginning in the fourth quarter of fiscal 2026, which is when these stores will commence their 14th full month of operations following the date of acquisition.

(2)

Segment profit represents operating income for a respective segment.  Corporate and other expenses, which represent costs not specifically related to the recurring operations of our segments, are not included in these results as they are not used by the Company to evaluate segment performance.

DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES

SUPPLEMENTAL FINANCIAL INFORMATION - UNAUDITED

(In thousands)

Information below includes operating results for the periods presented for the DICK'S and Foot Locker Businesses. The operating results for Foot Locker are included from the acquisition date of September 8, 2025.

13 Weeks Ended

52 Weeks Ended

January 31,

2026

February 1,

2025

January 31,

2026

February 1,

2025

Net sales

DICK'S Sporting Goods

$    4,050,789

$    3,893,649

$   14,108,943

$  13,442,849

Foot Locker

2,175,265

—

3,106,177

—

Total net sales

$    6,226,054

$    3,893,649

$   17,215,120

$  13,442,849

Gross profit

DICK'S Sporting Goods

$    1,443,369

$    1,361,258

$     5,126,299

$    4,825,696

Foot Locker

544,601

—

758,889

—

Corporate and other expenses ⁽¹⁾

(217,926)

—

(217,926)

—

Total gross profit

$    1,770,044

$    1,361,258

$     5,667,262

$    4,825,696

Segment profit (loss)

DICK'S Sporting Goods

$       444,511

$       393,007

$     1,568,443

$    1,497,569

Foot Locker

(5,893)

—

(52,220)

—

Reconciliation to income before income taxes

Corporate and other expenses ⁽²⁾

254,109

6,015

420,314

23,637

Interest expense

17,667

12,683

64,263

52,987

Other income

(13,185)

(22,963)

(110,327)

Pre-tax income

$       180,027

$       397,272

$     1,141,973

$    1,519,033

Proforma

Comparable Sales

13 Weeks Ended

52 Weeks Ended

January 31,

2026

February 1,

2025

January 31,

2026

February 1,

2025

DICK'S Sporting Goods

3.1 %

6.6 %

4.5 %

5.2 %

Proforma Foot Locker  ^{(3) (4)}

(3.4) %

2.3 %

(3.3) %

1.3 %

Proforma consolidated comparable sales  ⁽³⁾

0.8 %

5.0 %

1.6 %

3.8 %

(1)

Corporate and other expenses within gross profit represent charges to write down and liquidate inventory from the Company's review of the Foot Locker Business.

(2)

Corporate and other expenses include Foot Locker acquisition-related costs, non-cash impairment charges and changes in the fair value of employee deferred compensation plan investments held in rabbi trusts.

(3)

The proforma comparable sales are calculated as if Foot Locker had been acquired at the beginning of the periods presented. The sales have been adjusted to conform to the Company's method of reporting comparable sales. Comparable sales for our international stores are calculated on a constant currency basis, which translates the current year's results using the prior year periods' exchange rates.

(4)

Includes Foot Locker International proforma comparable sales decreases of 3.2% and 8.1% for the 13 and 52 weeks ended January 31, 2026 and a decrease of 0.5% and increase of 1.6% for the 13 and 52 weeks ended February 1, 2025, which represents operations of the Foot Locker Business in Europe and Asia Pacific.

DICK'S Business

Beginning

Stores

New

Stores

Closed

Stores

Relocated /

Converted ⁽⁹⁾

Ending

Stores

Gross

Square Footage ^{(10) (11)}

(in millions)

Beginning

Ending

DICK'S ⁽¹⁾

677

—

(7)

(26)

644

36.3

34.4

DICK'S Field House ⁽¹⁾

27

2

—

13

42

1.6

2.4

DICK'S House of Sport

19

3

—

13

35

2.2

3.8

Total DICK'S

723

5

(7)

—

721

40.1

40.6

Other Specialty Concepts

Golf Galaxy ⁽²⁾

109

4

—

—

113

2.4

2.5

Going Going Gone! ⁽³⁾

50

11

(10)

—

51

2.2

2.3

Public Lands

3

—

—

—

3

0.1

0.1

Total Other Specialty Concepts

162

15

(10)

—

167

4.8

4.9

Total DICK'S Business

885

20

(17)

—

888

44.8

45.5

Foot Locker Business

Beginning

Stores ⁽⁴⁾

New

Stores

Closed

Stores ⁽⁸⁾

Relocated /

Converted ^{(8) (9)}

Ending

Stores

Gross

Square Footage ^{(4) (11)}

(in millions)

Beginning

Ending

Foot Locker North America

745

2

(13)

—

734

4.3

4.4

Champs Sports

376

—

(5)

—

371

2.2

2.2

Kids Foot Locker

365

3

(6)

—

362

1.3

1.3

WSS

151

—

(8)

—

143

1.9

1.8

North America ⁽⁵⁾

1,637

5

(32)

—

1,610

9.7

9.7

Foot Locker Europe ⁽⁶⁾

585

4

(16)

—

573

2.3

2.3

Foot Locker Asia Pacific

95

—

(1)

—

94

0.4

0.4

atmos

30

—

—

—

30

—

—

International

710

4

(17)

—

697

2.8

2.8

Total Owned Stores

2,347

9

(49)

—

2,307

12.5

12.4

Licensed stores ⁽⁷⁾

246

16

(8)

—

254

1.1

1.1

Total Foot Locker Business

2,593

25

(57)

—

2,561

13.6

13.5

(1)

Beginning store count and square footage were updated to reflect one DICK'S Field House location that opened in fiscal 2024, which was previously reflected as a DICK'S store.

(2)

As of January 31, 2026, includes 33 Golf Galaxy Performance Centers, with nine new openings during fiscal 2025, five of which were conversions of prior Golf Galaxy store locations.

(3)

Beginning store count and square footage were updated to reflect Warehouse Sale locations as described in the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025. As of February 2, 2025, beginning amounts now include 29 Warehouse Sale locations and 1.3 million of related square footage.

(4)

Beginning stores and square footage reflect acquired Foot Locker stores as of September 8, 2025.

(5)

Represents store locations in the United States and Canada and related square footage.

(6)

Represents Foot Locker store locations in Europe, including three Kids Foot Locker stores and related square footage, as of January 31, 2026.

(7)

Reflects licensed stores operating in the Middle East, Asia and Europe.

(8)

Store closures for the Foot Locker Business during fiscal 2025 include seven WSS stores identified as part of the Company's review of unproductive assets. Additionally, the Foot Locker Business relocated 35 stores during the current year period consisting of 15 Foot Locker and 15 Kids Foot Locker store locations in North America and five international store locations.

(9)

Reflects stores converted between concept or prototype through store relocations or remodels as part of the Company's strategy to reposition its store portfolio. In addition to stores that converted between concepts, the Company relocated or remodeled eight stores for the DICK'S Business during the current year period, consisting of five Golf Galaxy and three Going Going Gone! store locations.

(10)

Includes square footage as of January 31, 2026 related to a Public Lands store closure as we plan to convert it into a DICK'S Field House store during early fiscal 2026.

(11)

Columns may not recalculate due to rounding.

DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

(In thousands, except per share data)

13 Weeks Ended

January 31,

2026

% of

Sales ⁽¹⁾

February 1,

2025

% of

Sales

Net sales

$       6,226,054

100.00 %

$       3,893,649

100.00 %

Cost of goods sold, including occupancy and

   distribution costs

4,456,010

71.57

2,532,391

65.04

GROSS PROFIT

1,770,044

28.43

1,361,258

34.96

Selling, general and administrative expenses

1,555,298

24.98

963,580

24.75

Merger and integration costs

17,614

0.28

—

—

Pre-opening expenses

12,623

0.20

10,686

0.27

OPERATING INCOME

184,509

2.96

386,992

9.94

Interest expense

17,667

0.28

12,683

0.33

Other (income) expense

(13,185)

(0.21)

(22,963)

(0.59)

PRE-TAX INCOME

180,027

2.89

397,272

10.20

Provision for income taxes

51,690

0.83

97,303

2.50

NET INCOME

$          128,337

2.06 %

$          299,969

7.70 %

EARNINGS PER COMMON SHARE:

Basic

$                1.44

$                3.73

Diluted

$                1.41

$                3.62

WEIGHTED AVERAGE COMMON SHARES

   OUTSTANDING:

Basic

88,981

80,453

Diluted

90,944

82,779

⁽¹⁾ Column does not add due to rounding

DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED

(In thousands, except per share data)

52 Weeks Ended

January 31,

2026

% of

Sales ⁽¹⁾

February 1,

2025

% of

Sales

Net sales

$       17,215,120

100.00 %

$      13,442,849

100.00 %

Cost of goods sold, including occupancy and

   distribution costs

11,547,858

67.08

8,617,153

64.10

GROSS PROFIT

5,667,262

32.92

4,825,696

35.90

Selling, general and administrative expenses

4,338,162

25.20

3,294,272

24.51

Merger and integration costs

164,191

0.95

—

—

Pre-opening expenses

69,000

0.40

57,492

0.43

OPERATING INCOME

1,095,909

6.37

1,473,932

10.96

Interest expense

64,263

0.37

52,987

0.39

Other (income) expense

(110,327)

(0.64)

(98,088)

(0.73)

PRE-TAX INCOME

1,141,973

6.63

1,519,033

11.30

Provision for income taxes

292,734

1.70

353,725

2.63

NET INCOME

$            849,239

4.93 %

$        1,165,308

8.67 %

EARNINGS PER COMMON SHARE:

Basic

$                10.22

$               14.48

Diluted

$                  9.97

$               14.05

WEIGHTED AVERAGE COMMON SHARES

   OUTSTANDING:

Basic

83,135

80,468

Diluted

85,144

82,929

⁽¹⁾ Column does not add due to rounding

DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS - UNAUDITED

(In thousands)

January 31,

2026

February 1,

2025

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$         1,353,226

$         1,689,940

Accounts receivable, net

475,852

214,250

Income taxes receivable

68,455

4,920

Inventories, net

4,907,823

3,349,830

Prepaid expenses and other current assets

299,435

158,767

Total current assets

7,104,791

5,417,707

Property and equipment, net

3,512,776

2,069,914

Operating lease assets

4,594,670

2,367,317

Intangible assets, net

768,575

58,598

Goodwill

864,047

245,857

Deferred income taxes

82,501

52,684

Other assets

484,139

246,617

TOTAL ASSETS

$       17,411,499

$       10,458,694

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

$         1,986,990

$         1,497,743

Accrued expenses

1,115,306

653,324

Operating lease liabilities

1,004,909

503,236

Income taxes payable

7,533

30,718

Deferred revenue and other liabilities

528,820

395,041

Total current liabilities

4,643,558

3,080,062

LONG-TERM LIABILITIES:

Revolving credit borrowings

—

—

Long-term debt and financing lease obligations

1,905,299

1,484,217

Long-term operating lease liabilities

4,836,435

2,500,307

Deferred income taxes

203,920

—

Other long-term liabilities

282,167

195,844

Total long-term liabilities

7,227,821

4,180,368

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY:

Common stock

653

567

Class B common stock

236

236

Additional paid-in capital

3,724,836

1,495,329

Retained earnings

6,827,900

6,392,513

Accumulated other comprehensive income (loss)

17,813

(755)

Treasury stock, at cost

(5,031,318)

(4,689,626)

Total stockholders' equity

5,540,120

3,198,264

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY

$       17,411,499

$       10,458,694

DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

(In thousands)

Fiscal Year Ended

January 31,

2026

February 1,

2025

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income

$         849,239

$      1,165,308

Adjustments to reconcile net income to net cash provided by operating

   activities:

Depreciation and amortization

488,630

400,409

Amortization of deferred financing fees and debt discount

11,709

2,333

Deferred income taxes

99,816

(14,838)

Stock-based compensation

123,667

71,001

Other, net

(24,930)

(6,565)

Changes in assets and liabilities:

Accounts receivable

(17,957)

(11,865)

Inventories

181,316

(501,033)

Prepaid expenses and other assets

(70,724)

(57,159)

Accounts payable

(122,001)

185,883

Accrued expenses

(90,018)

58,941

Income taxes payable / receivable

(11,626)

(26,155)

Construction allowances provided by landlords

161,659

76,287

Deferred revenue and other liabilities

39,976

41,536

Operating lease assets and liabilities

(81,413)

(72,248)

Net cash provided by operating activities

1,537,343

1,311,835

CASH FLOWS FROM INVESTING ACTIVITIES:

Capital expenditures

(1,137,176)

(802,565)

Cash acquired from acquisition of Foot Locker, net of cash paid

257,095

—

Proceeds from sale of other assets

—

11,872

Other investing activities

(174,408)

(5,865)

Net cash used in investing activities

(1,054,489)

(796,558)

CASH FLOWS FROM FINANCING ACTIVITIES:

Payment of bridge facility financing fees

(7,863)

—

Payments on finance lease obligations

(1,142)

—

Transaction costs for debt issuance

(1,000)

—

Proceeds from exercise of stock options

1,514

18,000

Minimum tax withholding requirements

(68,815)

(42,515)

Cash paid for treasury stock

(347,132)

(263,021)

Cash dividends paid to stockholders

(413,853)

(361,727)

Increase in bank overdraft

16,985

23,132

Net cash used in financing activities

(821,306)

(626,131)

EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS

1,738

(426)

NET DECREASE IN CASH AND CASH EQUIVALENTS

(336,714)

(111,280)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

1,689,940

1,801,220

CASH AND CASH EQUIVALENTS, END OF PERIOD

$      1,353,226

$      1,689,940

DICK'S SPORTING GOODS, INC.

GAAP to NON-GAAP RECONCILIATIONS - UNAUDITED

Non-GAAP Net Income and Earnings Per Share Reconciliations

(dollars in thousands, except per share amounts)

13 Weeks Ended January 31, 2026

Gross

profit

Selling,

general and

administrative

expenses

Operating

income

Interest

expense

Other

(income)

expense

Pre-tax

income

Net

income ⁽⁶⁾

Earnings

per

diluted

share

GAAP Basis

$ 1,770,044

$     1,555,298

$     184,509

$  17,667

$ (13,185)

$ 180,027

$  128,337

$     1.41

% of Net Sales

28.43 %

24.98 %

2.96 %

0.28 %

(0.21) %

2.89 %

2.06 %

Foot Locker acquisition-

   related costs ⁽¹⁾

217,926

—

235,541

—

—

235,541

175,914

Asset impairment charge ⁽²⁾

—

(13,375)

13,375

—

—

13,375

9,898

Deferred compensation

   plan adjustments ⁽³⁾

—

(5,193)

5,193

—

5,193

—

—

Non-GAAP Basis

$ 1,987,970

$     1,536,730

$     438,618

$  17,667

$   (7,992)

$ 428,943

$  314,149

$     3.45

% of Net Sales

31.93 %

24.68 %

7.04 %

0.28 %

(0.13) %

6.89 %

5.05 %

Contribution from Foot

   Locker acquisition ⁽⁴⁾

(544,601)

(549,476)

5,893

(5,798)

1,629

10,062

14,953

Non-GAAP basis for DICK'S

   Business ⁽⁵⁾

$ 1,443,369

$        987,254

$     444,511

$  11,869

$   (6,363)

$ 439,005

$  329,102

$     4.05

% of Net Sales for DICK'S

   Business

35.63 %

24.37 %

10.97 %

0.29 %

(0.16) %

10.84 %

8.12 %

(1)

Foot Locker acquisition-related charges of $235.5 million includes $217.9 million to write down and liquidate inventory from the Company's review of the Foot Locker Business and $17.6 million of merger and integration costs.

(2)

Represents non-cash asset write-down following the abandonment of a technology service contract.

(3)

Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.

(4)

Reflects the operating results from Foot Locker subsequent to the acquisition close date.

(5)

Reflects the results of the DICK'S Business, excluding the dilutive effect of 9.6 million shares issued in connection with the Foot Locker acquisition on weighted average diluted shares outstanding.

(6)

Except for approximately $0.8 million of non-deductible merger and integration costs, the provision for income taxes for non-GAAP adjustments was tax effected at the statutory rate of the applicable tax jurisdiction, which approximates 25%.

52 Weeks Ended January 31, 2026

Gross

profit

Selling,

general and

administrative

expenses

Operating

income

Interest

expense

Other

(income)

expense

Pre-tax

income

Net

Income ⁽⁷⁾

Earnings

per

diluted

share

GAAP Basis

$ 5,667,262

$     4,338,162

$    1,095,909

$ 64,263

$           (110,327)

$ 1,141,973

$ 849,239

$      9.97

% of Net Sales

32.92 %

25.20 %

6.37 %

0.37 %

(0.64) %

6.63 %

4.93 %

Foot Locker acquisition-

   related costs ⁽¹⁾

217,926

—

382,118

(7,863)

—

389,981

307,315

Asset impairment charge ⁽²⁾

—

(13,375)

13,375

—

—

13,375

9,898

Investment gains ⁽³⁾

—

—

—

—

42,241

(42,241)

(42,241)

Deferred compensation

   plan adjustments ⁽⁴⁾

—

(24,821)

24,821

—

24,821

—

—

Non-GAAP Basis

$ 5,885,188

$     4,299,966

$    1,516,223

$ 56,400

$             (43,265)

$ 1,503,088

$ 1,124,211

$    13.20

% of Net Sales

34.19 %

24.98 %

8.81 %

0.33 %

(0.25) %

8.73 %

6.53 %

Contribution from Foot

   Locker acquisition ⁽⁵⁾

(758,889)

(809,395)

52,220

(9,225)

3,606

57,839

60,003

Non-GAAP basis for DICK'S

   Business ⁽⁶⁾

$ 5,126,299

$     3,490,571

$    1,568,443

$  47,175

$             (39,659)

$ 1,560,927

$ 1,184,214

$    14.58

% of Net Sales for DICK'S

   Business

36.33 %

24.74 %

11.12 %

0.33 %

(0.28) %

11.06 %

8.39 %

(1)

Foot Locker acquisition-related charges of $390.0 million includes $217.9 million to write down and liquidate inventory, merger and integration costs of $164.2 million, which includes legal and regulatory fees, other professional services and other costs related to the Foot Locker acquisition, and $7.9 million of deferred financing amortization on a bridge facility.

(2)

Represents non-cash asset write-down following the abandonment of a technology service contract.

(3)

Includes non-cash gains from non-operating investment in Foot Locker equity securities.

(4)

Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.

(5)

Reflects the operating results from Foot Locker subsequent to the acquisition close date.

(6)

Reflects the results of the DICK'S Business, excluding the dilutive effect of 9.6 million shares issued in connection with the Foot Locker acquisition on weighted average diluted shares outstanding.

(7)

Except for approximately $65.1 million of non-deductible merger and integration costs and a $10.8 million favorable tax impact from the gains on the Company's pre-existing Foot Locker investment that are not taxable following completion of the acquisition, the provision for income taxes for non-GAAP adjustments was tax effected at the statutory rate of the applicable tax jurisdiction, which approximates 25%.

13 Weeks Ended February 1, 2025

Selling, general

and

administrative

expenses

Operating

income

Other

(income)

expense

Pre-tax

income

Net income

Earnings

per diluted

share

GAAP Basis

$          963,580

$    386,992

$  (22,963)

$  397,272

$   299,969

$         3.62

% of Net Sales

24.75 %

9.94 %

(0.59) %

10.20 %

7.70 %

Deferred compensation

   plan adjustments ⁽¹⁾

(6,015)

6,015

6,015

—

—

Non-GAAP Basis

$          957,565

$    393,007

$  (16,948)

$  397,272

$   299,969

$         3.62

% of Net Sales

24.59 %

10.09 %

(0.44) %

10.20 %

7.70 %

(1)   Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.

52 Weeks Ended February 1, 2025

Selling, general

and

administrative

expenses

Operating

income

Other

(income)

expense

Pre-tax

income

Net income

Earnings

per diluted

share

GAAP Basis

$       3,294,272

$   1,473,932

$  (98,088)

$ 1,519,033

$ 1,165,308

$       14.05

% of Net Sales

24.51 %

10.96 %

(0.73) %

11.30 %

8.67 %

Deferred compensation

   plan adjustments ⁽¹⁾

(23,637)

23,637

23,637

—

—

Non-GAAP Basis

$       3,270,635

$   1,497,569

$  (74,451)

$ 1,519,033

$ 1,165,308

$       14.05

% of Net Sales

24.33 %

11.14 %

(0.55) %

11.30 %

8.67 %

(1)   Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts.

Gross Capital Expenditures to Net Capital Expenditures Reconciliation

(in thousands) 

The following table represents a reconciliation of the Company's gross capital expenditures to its capital expenditures, net

of construction allowances.

Fiscal Year Ended

January 31,

2026

February 1,

2025

Gross capital expenditures

$                   (1,137,176)

$                   (802,565)

Construction allowances provided by landlords

161,659

76,287

Net capital expenditures

$                      (975,517)

$                   (726,278)

Reconciliation of Non-GAAP Operating Income and Earnings Per Diluted Share Guidance

(dollars in millions, except per share amounts)

52 Weeks Ended January 30, 2027

Low End

High End

Operating

income

Earnings per

diluted share ⁽³⁾

Operating

income

Earnings per

diluted share ⁽³⁾

GAAP Basis

$              1,710

$                13.70

$       1,833

$                14.70

Foot Locker acquisition-related costs ⁽¹⁾

150

1.24

150

1.24

Litigation and other settlements ⁽²⁾

(175)

(1.43)

(175)

(1.43)

Non-GAAP Basis

$              1,685

$                13.50

$       1,808

$                14.50

(1)

Adjustment eliminates the impact of future Foot Locker acquisition-related charges. Refer to "Acquisition of Foot Locker" section above for additional information.

(2)

Represents income received as a result of settlement on credit card interchange fees and from a landlord for early lease termination of a store location.

(3)

Column does not add due to rounding.