DICK'S SPORTING GOODS, INC.DKS
DICK'S SPORTING GOODS, INC. Segments Disclosure
The Company is an omni-channel sporting goods retailer that offers an extensive assortment of authentic, high-quality, sports equipment, apparel, footwear and accessories across the United States through its retail stores and online, and was historically structured as a single reportable segment entity. In fiscal 2025, the Company acquired Foot Locker, a leading footwear and apparel retailer, which changed the organizational structure of the Company and resulted in a reassessment of reportable segments. As a result, the Company now has two reportable segments: DICK’S and Foot Locker. The Foot Locker reportable segment is the aggregate of the Foot Locker - North America and Foot Locker - International operating segments. Refer to Note 1 – Basis of Presentation and Summary of Significant Accounting Policies for additional details related to the Company’s net sales by merchandise category.
The Executive Chairman and the President & Chief Executive Officer together serve as the Chief Operating Decision Maker, or “CODM”, and they both assess the performance of and allocate resources to both reportable segments. In connection with the reorganization due to the Foot Locker acquisition, the measure of segment profit and loss utilized by the CODM changed from net income to segment profit as it is more reflective of the performance of the two reportable segments and is used by the CODM to decide how to reinvest profits across the reportable segments to strengthen a global platform that serves a broader set of athletes through differentiated iconic concepts and robust digital experiences, supported by brand partnerships as a combined company within the growing sports retail industry. Segment profit reflects income before incomes taxes, interest expense, unallocated corporate and other expense and other income. Assets by reportable segment are not currently utilized by the CODM to evaluate performance or allocate resources and thus are not disclosed.
See the table below for significant expense categories and amounts for each reportable segment, and the reconciliation to income before taxes, which now incorporates the change in reportable segments for DICK’S and Foot Locker (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| DICK’S | |||||||||||||||||
| Net sales | $ | 14,108,943 | $ | 13,442,849 | $ | 12,984,399 | |||||||||||
| Cost of merchandise and services sold | 7,100,929 | 6,813,682 | 6,664,212 | ||||||||||||||
Occupancy costs (1) | 1,197,019 | 1,139,387 | 1,100,720 | ||||||||||||||
Personnel expense (2) | 1,972,850 | 1,869,257 | 1,838,554 | ||||||||||||||
Other segment expenses (4) | 2,269,702 | 2,122,954 | 1,999,775 | ||||||||||||||
| Segment profit | $ | 1,568,443 | $ | 1,497,569 | $ | 1,381,138 | |||||||||||
| Foot Locker | |||||||||||||||||
| Net sales | $ | 3,106,177 | $ | — | $ | — | |||||||||||
Cost of merchandise and services sold (3) | 1,873,614 | — | — | ||||||||||||||
Occupancy costs (1) | 414,557 | — | — | ||||||||||||||
Personnel expense (2) | 497,616 | — | — | ||||||||||||||
Other segment expenses (4) | 372,610 | — | — | ||||||||||||||
| Segment loss | $ | (52,220) | $ | — | $ | — | |||||||||||
| Total segment profit | $ | 1,516,223 | $ | 1,497,569 | $ | 1,381,138 | |||||||||||
Corporate and other expenses (5) | 420,314 | 23,637 | 98,773 | ||||||||||||||
| Interest expense | 64,263 | 52,987 | 58,023 | ||||||||||||||
| Other income | (110,327) | (98,088) | (93,809) | ||||||||||||||
| Consolidated income before income taxes | $ | 1,141,973 | $ | 1,519,033 | $ | 1,318,151 | |||||||||||
(1)Occupancy costs include rent, common area maintenance charges, real estate and other asset-based taxes, general maintenance, utilities, depreciation and certain insurance expenses.
(2)Personnel expenses include wages, salaries, and other forms of compensation related to store and administrative employees within selling, general and administrative expenses.
(3)Cost of merchandise and services sold for the Foot Locker segment includes supply chain costs as part of their application of the retail-inventory method.
(4)Includes expenses associated with advertising, bank card charges, pre-opening expenses, shipping expenses, costs to operate the Company’s internal eCommerce platforms, technology, other store expenses, certain foreign exchange transaction gains and losses, and expenses associated with operating the Company’s Customer Support Center or Foot Locker corporate headquarters. Additionally, other segment items include supply chain costs for the DICK’S segment, which are included in cost of merchandise and services sold for the Foot Locker segment.
(5)Corporate and other expenses, which represent costs not specifically related to the recurring operations of the Company’s segments, are not included in segment profit or loss as they are not used by the Company to evaluate segment performance. For fiscal 2025, corporate and other expenses include Foot Locker acquisition-related costs, which consist of charges to write down and liquidate inventory from the Company’s review of the Foot Locker Business and merger and integration costs, and an asset impairment charge. Both periods presented also include the effects related to changes in the investment values of the Company’s deferred compensation plans, which is fully offset in other income.
The following table quantifies depreciation and amortization expense by reportable segment for the fiscal years presented below (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| DICK’S | $ | 425,043 | $ | 400,409 | $ | 393,933 | |||||||||||
| Foot Locker | 63,587 | — | — | ||||||||||||||
| Total depreciation and amortization expense | $ | 488,630 | $ | 400,409 | $ | 393,933 | |||||||||||
The following table quantifies capital expenditures by reportable segment for the fiscal years presented below (in thousands):
| 2025 | 2024 | 2023 | |||||||||||||||
| DICK’S | $ | 1,043,463 | $ | 802,565 | $ | 587,426 | |||||||||||
| Foot Locker | 93,713 | — | — | ||||||||||||||
| Total capital expenditures | $ | 1,137,176 | $ | 802,565 | $ | 587,426 | |||||||||||
The following table disaggregates net sales by geographic location for the following fiscal periods (in millions):
| 2025 | 2024 | 2023 | |||||||||||||||
| DICK’S | |||||||||||||||||
| United States | $ | 14,108.9 | $ | 13,442.8 | $ | 12,984.4 | |||||||||||
| Foot Locker | |||||||||||||||||
| United States | 2,075.7 | — | — | ||||||||||||||
International (1) | 1,030.5 | — | — | ||||||||||||||
| Total Foot Locker | 3,106.2 | — | — | ||||||||||||||
| Total net sales | $ | 17,215.1 | $ | 13,442.8 | $ | 12,984.4 | |||||||||||
(1)For fiscal year ended January 31, 2026, the countries that comprised the majority of the revenue for the international category were Italy, France, Canada and Australia. No other individual country included in the international category was significant.
The following table quantifies long-lived assets, consisting of net property and equipment and lease right-of-use assets, by geographic location for the following fiscal periods (in thousands):
| 2025 | 2024 | ||||||||||
| United States | $ | 7,256,525 | $ | 4,437,231 | |||||||
| International | 850,921 | — | |||||||||
| Total long-lived assets | $ | 8,107,446 | $ | 4,437,231 | |||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 27, 2026 | Showing above |
| 2025 | Mar 27, 2025 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.