Key Takeaways
- Dick’s Sporting Goods topped first-quarter estimates on Wednesday, and affirmed its full-year outlook.
- Comparable store sales rose by 4.5%, above the 3.65% consensus of analysts polled by Visible Alpha.
- The results come weeks after the retailer announced a deal to acquire Foot Locker in a $2.4 billion deal.
Dick’s Sporting Goods (DKS) on Wednesday reported better first-quarter results than analysts had expected, weeks after shaking up the retail landscape with its acquisition of Foot Locker (FL).
The sports retailer reported adjusted earnings per share (EPS) of $3.37 on net sales that rose 5% year-over-year to $3.18. Analysts polled by Visible Alpha had projected $3.28 and $3.15 billion, respectively. The adjusted EPS figure and the reported comparable store sales growth 4.5% were in line with the preliminary results Dick’s released May 15 when it announced the roughly $2.4 billion Foot Locker deal.
The company kept its full-year outlook steady, but noted that it does not include costs or benefits from the Foot Locker acquisition, which is expected to close in the second half of 2025. Last quarter, Dick’s said it expected 2025 sales between $13.6 billion and $13.9 billion with a 1% to 3% comparable store sales gain, and EPS between $13.80 and $14.40.
CEO Lauren Hobart said affirming the full-year outlook “reflects our strong start to the year and confidence in our strategies and operational strength while still acknowledging the dynamic macroeconomic environment.”
Shares, which entered Wednesday down 24% this year, rose 1.5% about 90 minutes before the opening bell.
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