PITTSBURGH (BRAIN) — Dick's Sporting Goods announced its first-quarter net sales increased 5.2% year-over-year a few weeks after reaching a merger agreement to acquire Foot Locker.
Net sales for the quarter ending May 3 were $3.8 billion, compared with $3 billion at the same time last year. Net income for the quarter was $264 million, down 4% from $275 million. Earnings per share decreased 2%, from $3.30 to $3.24.
"Earlier (last) month, we announced our plans to acquire Foot Locker, a move that represents a truly exciting and transformational moment for Dick's," said Executive Chairman Ed Stack. "For many years, we've admired Foot Locker's brand and the powerful community they've built in sneaker culture. By bringing our two great brands together, we see the opportunity to create a global leader in the sports retail industry by serving a broader set of athletes."
Dick's said it expects full-year 2025 comparable sales growth in the range of 1% to 3% and its net sales to be between $13.6 billion and $13.9 billion.
Dick's Sporting Goods is traded on the New York Stock Exchange under the DKS symbol. More information: DKS stock quote at NYSE.com.
