Dick’s Sporting Goods said Wednesday it’s standing by its full-year guidance, which includes the expected impact from all tariffs currently in effect.
The sporting goods giant said it’s expecting earnings per share to be between $13.80 and $14.40 in fiscal 2025 — in line with the $14.29 that analysts had expected, according to LSEG.
It’s projecting revenue to be between $13.6 billion and $13.9 billion, which is also in line with expectations of $13.9 billion, according to LSEG.
“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,” CEO Lauren Hobart said in a news release. “Our performance demonstrates the momentum and strength of our long-term strategies and the consistency of our execution.”
Here’s how the company performed in its first fiscal quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
The company’s reported net income for the three-month period that ended May 3 was $264 million, or $3.24 per share, compared with $275 million, or $3.30 per share, a year earlier. Excluding one-time items related to its acquisition of Foot Locker, Dick’s posted earnings per share of $3.37.
Sales rose to $3.17 billion, up about 5% from $3.02 billion a year earlier.
For most investors, Dick’s results won’t come as a surprise because it preannounced some of its numbers about two weeks ago when it unveiled plans to acquire its longtime rival Foot Locker for $2.4 billion. So far, Dick’s has seen a mix of reactions to the proposed acquisition.
On one hand, Dick’s deal for Foot Locker will allow it to enter international markets for the first time and reach a customer that’s crucial to the sneaker market and doesn’t typically shop in the retailer’s stores. On the other hand, Dick’s is acquiring a business that’s been struggling for years and some aren’t sure needs to exist due to its overlap with other wholesalers and the rise of brands selling directly to consumers.
While shares of Foot Locker initially soared more than 80% after the deal was announced, shares of Dick’s fell about 15%.
The transaction is expected to close in the second half of fiscal 2025 and, for now, Dick’s outlook doesn’t include acquisition-related costs or results from the acquisition.
In the first full fiscal year post-close, Dick’s expects the transaction to be accretive to earnings and deliver between $100 million and $125 million in cost synergies.
