Dick's Sporting Goods, Inc. reported a strong third quarter with a 5.7% increase in comparable sales for the Dick's business. The company also raised its full-year 2025 guidance for comparable sales growth for the Dick's business to a range of 3.5% to 4.0%, up from 2.0% to 3.5% previously. Furthermore, the earnings per diluted share for the Dick's business were reported at $0.86, while the non-GAAP earnings per diluted share were $2.07. Additionally, the non-GAAP earnings per diluted share for the Dick's business were $2.78 compared to the prior year's quarter, where both GAAP and non-GAAP earnings per diluted share were $2.75.
During the third quarter, Dick's Sporting Goods, Inc. opened 13 new House of Sport locations and 6 new Dick's Field House locations. The company completed the acquisition of Foot Locker, expanding its reach and creating a global platform in the sports retail industry.
The company also announced that it initiated a review of unproductive assets, which, along with merger and integration costs, is expected to result in pre-tax charges of $500 to $750 million in the future.
Lauren Hobart, President and Chief Executive Officer, expressed excitement about the acquisition of Foot Locker and the steps being taken to position the Foot Locker business for profitable growth. She also highlighted the strong results and the company's continued confidence, leading to the raising of the full-year 2025 outlook for the Dick's business.
As a result of these announcements, the company's shares have moved -1.03% on the market, and are now trading at a price of $206.31. Check out the company's full 8-K submission here.
