Foot Locker has a new spring in its step.
Dick’s Sporting Goods, which bought the struggling shoe retailer in September for $2.4 billion, says lightly remodeling some Foot Locker stores has gone a long way toward improving sales.
The acquisition brought more than 2,400 Foot Locker locations worldwide into the Dick’s portfolio. So far, about 100 have adopted what Dick’s is calling the “Fast Break” layout, which prioritizes a cleaner presentation and more limited assortment of shoes.
Same-store sales at the Fast Break locations were up at least 10% in the first quarter of 2026 compared to the same time last year, according to financial results released Wednesday by Dick’s.
“We’re right on schedule with what we plan to do with Foot Locker,” Ed Stack, executive chairman of Dick’s, said Wednesday on a call with stock market analysts.
The Findlay-based sporting goods giant wants to scale this model to some 250 stores by back-to-school season, with additional remodels planned ahead of the holidays. Store improvements take only a few days and aren’t very costly, according to Stack.
The company also has cleared out unwanted inventory, overhauled Foot Locker management and repaired relationships with vendors who were “disenchanted” with the business, Stack said.
Foot Locker as a whole saw same-store sales rise for the first time since the fourth quarter of 2024, though just barely. The enterprise turned an operating profit of about $18 million.
Dick’s, which reported results for its core business separately from Foot Locker, continued to build on years of strong financial showings. Operating profit neared $1.6 billion on more than $14 billion in net sales.
Earnings nonetheless fell short of projections as the investments needed to turn around Foot Locker weighed on the Dick’s bottom line. Severance, store closings and inventory clearance cost the company $97 million in the first quarter of this year.
Shares of Dick’s on the New York Stock Exchange slipped about 6% on Wednesday.
