Dick’s Sporting Goods’ sales in the first quarter (Q1) represent a 5.2% increase from the $3.02bn reported in the corresponding quarter of the previous year.
During the quarter ending 3 May 2025, the company’s comparable sales rose by 4.5%, continuing a streak of more than 4% growth for the fifth consecutive quarter.
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Dick’s Sporting Goods president and CEO Lauren Hobart said during an earnings call: “Our Q1 comps increased 4.5% driven by our four strategic pillars of omnichannel asset experience, differentiated product assortment, deep engagement with the Dick’s brand, and our knowledgeable and passionate teammates who are integral to our success.”
She added: “In Q1, we saw growth in both average ticket and transaction. In fact, compared to the same period last year, more athletes purchased from us, they purchased more frequently, and they spent more each trip.”
Dick’s Sporting Goods’ key metrics in Q1 FY25
Dick’s Sporting Goods saw its net income decrease by 4% to $264m compared to $275m in the prior year’s first quarter.
Its earnings per diluted share (EPS) fell by 2% to $3.24 from $3.30 year-over-year, while non-GAAP EPS share saw a slight increase of 2% to $3.37 from the previous $3.30.
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By GlobalDataThe company’s income before taxes accounted for 11.0% of net sales, which is a decrease of 39 basis points from 11.3% last year.
However, gross profit remained robust at $1.17bn or 36.7% of net sales, marking an improvement from $1.09bn in the prior year quarter.
Driven by higher merchandise margin, the company’s gross margin for the first quarter also increased by more than 40 basis points.
The company’s selling, general and administrative (SG&A) expenses were $785.53m on GAAP basis, increasing from $743.39m in Q1 FY24, while on non-GAAP basis, SG&A expenses rose by 7% to $791.24m.
Dick’s Sporting Goods’ outlook for FY25
Looking ahead to the full year of 2025, Dick’s Sporting Goods reiterated its previously issued guidance which already accounts for all currently effective tariffs.
The retailer expects net sales to range between $13.6bn and $13.9bn with comparable sales growth projected at 1.0% to 3.0%.
It forecasted earnings per diluted share to be between $13.80 and $14.40.
Hobart stated: “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.”
The acquisition is pending approval from Foot Locker shareholders and regulatory bodies and is expected to finalise in the second half of 2025.
