S&P Global cuts Dick’s Sporting Goods outlook as leverage stays above 2x
S&P Global Ratings expects Dick’s Sporting Goods leverage to stay above 2x through fiscal 2027, with adjusted leverage projected at about 2.4x by year-end 2026 versus a prior view of below 2x. The forecast reflects Foot Locker’s weaker sales after its last-fall acquisition, offset partly by Dick’s stronger core comparable sales. S&P sees longer-term cost-savings synergies of $100M–$125M.