Dicks Sporting Goods Inc
Q2 2025 Earnings
Non-GAAP EPS of $4.38 excludes $49.7 million in non-cash investment gains from Foot Locker equity securities, $8.0 million in Foot Locker acquisition-related merger and integration costs, and $14.7 million in deferred compensation plan fair value adjustments. GAAP EPS of $4.71 includes all these items.
Market Reaction
S&P 500 over the same 30 days: +2.66%.
Did DKS Beat Earnings? Q2 2025 Results
Dick's Sporting Goods delivered a solid second quarter, beating Wall Street expectations on both the top and bottom lines as comparable sales growth of 5.0% powered a 5.0% year-over-year revenue gain to $3.65 billion, ahead of the $3.61 billion consensus. Adjusted diluted EPS of $4.38 cleared the $4.30 analyst estimate by 1.89%, with growth driven by increases in both average ticket and transactions and a 33-basis-point expansion in gross margin to 37.06%. The quarter's defining story, however, extends well beyond the income statement: the company's $2.4 billion acquisition of Foot Locker closed shortly after the period ended, expanding Dick's retail footprint to more than 3,200 stores across 20 countries and setting the stage for $100 million to $125 million in expected cost synergies. Management responded to the strong underlying results by nudging its full-year 2025 adjusted EPS guidance to $13.90 to $14.50 and lifting its comparable sales growth outlook to a range of 2.0% to 3.5%, signaling confidence in the core business even as integration work on the transformative Foot Locker deal begins.
- 5.0% comparable sales growth driven by increases in both average ticket and transactions
- Gross margin expansion of 33 basis points to 37.06% of net sales
- Consistent execution of strategic pillars across the business
- Store portfolio repositioning including House of Sport and Field House expansion
“We are very pleased with our strong Q2 results. Our performance shows how well our long-term strategies are working, the strength and resilience of our operating model and the impact of our team's consistent execution. Our Q2 comps increased 5.0%, with growth in average ticket and transactions, and we drove second quarter gross margin expansion. We are raising our full year 2025 outlook to reflect our strong Q2 results and the ongoing confidence we have in our business, grounded in our team's execution of our strategic pillars.”
Dick's Sporting Goods CEO, on the earnings call
Forward Guidance & Outlook
The company raised its full year 2025 outlook (excluding Foot Locker acquisition-related costs, investment gains, and Foot Locker results): EPS guidance raised to $13.90–$14.50 (from $13.80–$14.40), based on approximately 81 million diluted shares and an effective tax rate of approximately 25%, including the expected impact from all tariffs currently in effect. Net sales guidance of $13.75 billion to $13.95 billion. Comparable sales growth raised to positive 2.0% to 3.5% (from 1.0% to 3.0%). Capital expenditures projected at approximately $1.2 billion gross and approximately $1.0 billion net.
DKS YoY Financials
DKS Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.