NEW YORK, Sept. 08, 2026 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Western District of Pennsylvania on behalf of all persons or entities who purchased or otherwise acquired DICK’S Sporting Goods, Inc. (“Dick’s” or the “Company”) (NYSE: DKS) securities between September 8, 2025 and August 24, 2026, inclusive (the “Class Period”).
The Complaint alleges that Defendants misled investors regarding the Company’s acquisition of Foot Locker, touting the acquisition as a strategic opportunity to drive growth and profitability while assuring investors that Foot Locker’s longstanding inventory and promotional challenges had been resolved. The Complaint alleges that in reality, those problems persisted, as Foot Locker remained heavily dependent on legacy footwear products that were exposed to intensifying promotional pressures across the athletic footwear industry. The Complaint alleges that as a result, Dick’s was never positioned to deliver the sales growth and profitability from the Foot Locker acquisition that it had touted to investors.
The Complaint further alleges that truth was revealed to investors before markets opened on August 25, 2026, when Dick’s reported disappointing second-quarter 2026 results, which included revenue of $1.73 billion from Foot Locker that fell well short of analysts’ estimates of $1.81 billion. The Complaint alleges that Dick’s also reduced its net sales guidance for full-year 2026 and disclosed that it expected Foot Locker’s proforma comparable sales to yield a range of negative 2.0% to 0.0% for the year—down from Dick’s prior forecast of 1.5% to 3% growth.
Investors who purchased or otherwise acquired shares of Dick’s should contact the Firm prior to the November 3, 2026 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
Please visit our website at http://www.gme-law.com for more information about the firm.
