Dick's Sporting Goods
Investment-grade (BBB) sporting-goods leader that bought Foot Locker for ~$2.4B in September 2025; S&P revised the outlook to stable from positive as Foot Locker's turnaround is weighing on leverage. Dick's-banner big boxes, including the 'House of Sport' format, are well located but costly to re-lease.
- US units
- 860
- 2026 (approx., excl. Foot Locker)
- 3Y net growth
- −0.3%
- vs. FY2022
- Credit rating
- BBB
- Investment grade
- Typical term
- 10-15 yr
- NN
- Model
- Corporate
- Public
Unit count
Dick's Sporting Goods in the news
All news →No tagged headlines in the last three weeks.
Dick's Sporting Goods net lease FAQ
What is Dick's Sporting Goods's credit rating?
Dick's Sporting Goods is rated BBB, which is investment grade. Check the lease to confirm whether the rated entity is the actual guarantor.
How many Dick's Sporting Goods locations are there in the US?
Dick's Sporting Goods reported about 860 US locations as of 2026 (approx., excl. Foot Locker). That is −0.3% versus 863 in FY2022.
What does a typical Dick's Sporting Goods net lease look like?
Lease type: NN. Initial term: 10-15 yr. Rent increases: 5-10% every 5 yr. These are market-typical terms; actual deals vary by vintage, location and whether the lease is corporate or franchisee-signed.
Is Dick's Sporting Goods corporate or franchised?
Operating model: Corporate. For net lease investors this determines whether rent is backed by the corporate parent or by a franchisee.