Dicks Sporting Goods Inc
Q1 2025 Earnings
Non-GAAP EPS of $3.37 excludes $13,880 thousand in non-cash investment losses on Foot Locker equity securities and deferred compensation plan adjustments of $5,708 thousand. GAAP EPS of $3.24 includes these items.
Market Reaction
S&P 500 over the same 30 days: +1.20%.
Did DKS Beat Earnings? Q1 2025 Results
Dick's Sporting Goods kicked off fiscal 2025 with a strong quarter, posting adjusted EPS of $3.37 and net sales of $3.17 billion that both cleared Wall Street's expectations, with EPS running 4.89% ahead of the $3.21 consensus and revenue coming in 1.74% above estimates on 5.2% year-over-year growth. The headline driver was a fifth consecutive quarter of comparable sales growth above 4.0%, with the 4.5% comp gain in Q1 fueled by increases in both average ticket size and transaction volume, while gross margin expanded 41 basis points to 36.70% of net sales on favorable merchandise trends. Footwear emerged as a particularly bright spot, with management citing strength across running and lifestyle categories. The quarter also carried a headline-grabbing strategic development: Dick's announced a definitive agreement to acquire Foot Locker for roughly $2.40 billion in equity value, a deal expected to close in the second half of 2025. Looking ahead, the company reaffirmed its full-year guidance, projecting comparable sales growth of 1.0% to 3.0% and adjusted EPS of $13.80 to $14.40, with the outlook already incorporating the impact of all currently effective tariffs.
- 4.5% comparable sales growth driven by growth in both average ticket and transactions
- Fifth consecutive quarter with comps over 4.0%
- Gross margin expansion of 41 basis points to 36.70%
- Non-GAAP EBT margin expanded 5 basis points to 11.4%
“We are very pleased with our first quarter results. Our performance demonstrates the momentum and strength of our long-term strategies and the consistency of our execution. Our Q1 comps increased 4.5% driven by growth in both average ticket and in transactions and this was our fifth straight quarter with comps over 4.0%. Our first quarter gross margin expanded and we delivered non-GAAP EPS ahead of the prior year. We are reaffirming our 2025 outlook, which reflects our strong start to the year and confidence in our strategies and operational strength while still acknowledging the dynamic macroeconomic environment.”
Dick's Sporting Goods CEO, on the earnings call
Forward Guidance & Outlook
Dick's reaffirmed its FY2025 outlook (excluding acquisition-related costs, investment losses, and Foot Locker results): EPS of $13.80 to $14.40 based on approximately 81 million diluted shares and an effective tax rate of approximately 24%, including the expected impact from all tariffs currently in effect; net sales of $13.6 billion to $13.9 billion; comparable sales growth of 1.0% to 3.0%; and capital expenditures of approximately $1.2 billion gross ($1.0 billion net).
DKS YoY Financials
DKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.