DICK'S Sporting Goods Reports Second Quarter Results; Raises 2025 Outlook (A)
DICK'S Sporting Goods (NYSE:DKS) reported strong Q2 2025 results and raised its full-year guidance. The company achieved record second quarter sales of $3.65 billion, with comparable sales growth of 5.0%. Earnings per diluted share reached $4.71 (GAAP) and $4.38 (non-GAAP), compared to $4.37 in the prior year.
The company has raised its 2025 outlook, projecting comparable sales growth of 2.0% to 3.5% (up from 1.0% to 3.0%) and earnings per diluted share of $13.90 to $14.50 (up from $13.80 to $14.40). Additionally, DICK'S announced that its $2.4 billion acquisition of Foot Locker is expected to close on September 8, 2025, having received shareholder approval and all regulatory clearances.
The company continues its expansion with new store openings, including one House of Sport and four DICK'S Field House locations during Q2. The Board declared a quarterly dividend of $1.2125 per share, payable on September 26, 2025.
DICK'S Sporting Goods (NYSE:DKS) ha riportato risultati solidi nel secondo trimestre 2025 e ha rivisto al rialzo le previsioni per l'intero esercizio. L'azienda ha registrato vendite record per il secondo trimestre pari a 3,65 miliardi di dollari, con una crescita delle vendite comparabili del 5,0%. L'utile per azione diluita 猫 stato di 4,71$ (GAAP) e 4,38$ (non-GAAP), rispetto a 4,37$ dell'anno precedente.
L'azienda ha incrementato le stime per il 2025, prevedendo una crescita delle vendite comparabili del 2,0% al 3,5% (da 1,0% a 3,0%) e un utile per azione diluita compreso tra 13,90$ e 14,50$ (rispetto a 13,80$鈥�14,40$). Inoltre, DICK'S ha annunciato che la sua acquisizione da 2,4 miliardi di dollari di Foot Locker dovrebbe concludersi l'8 settembre 2025, avendo ottenuto l'approvazione degli azionisti e tutte le autorizzazioni regolamentari.
L'azienda prosegue l'espansione con nuove aperture di negozi, tra cui una House of Sport e quattro sedi DICK'S Field House nel corso del secondo trimestre. Il Consiglio ha dichiarato un dividendo trimestrale di 1,2125$ per azione, pagabile il 26 settembre 2025.
DICK'S Sporting Goods (NYSE:DKS) present贸 s贸lidos resultados en el segundo trimestre de 2025 y elev贸 sus previsiones para todo el a帽o. La compa帽铆a alcanz贸 ventas r茅cord en el segundo trimestre de 3.650 millones de d贸lares, con un crecimiento de ventas comparables del 5,0%. Las ganancias por acci贸n diluida fueron de 4,71$ (GAAP) y 4,38$ (non-GAAP), frente a 4,37$ del a帽o anterior.
La compa帽铆a ha mejorado su previsi贸n para 2025, proyectando un crecimiento de ventas comparables del 2,0% al 3,5% (frente al 1,0%鈥�3,0%) y unas ganancias por acci贸n diluida entre 13,90$ y 14,50$ (frente a 13,80$鈥�14,40$). Adem谩s, DICK'S anunci贸 que su adquisici贸n de Foot Locker por 2.400 millones de d贸lares se espera que se cierre el 8 de septiembre de 2025, tras haber recibido la aprobaci贸n de los accionistas y todas las autorizaciones regulatorias.
La compa帽铆a contin煤a su expansi贸n con nuevas aperturas de tiendas, incluida una House of Sport y cuatro ubicaciones DICK'S Field House durante el segundo trimestre. La Junta declar贸 un dividendo trimestral de 1,2125$ por acci贸n, pagadero el 26 de septiembre de 2025.
DICK'S Sporting Goods (NYSE:DKS)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 順胳“毳� 氤挫澊氅� 鞐瓣皠 臧�鞚措崢鞀るゼ 靸來枼 臁办爼頄堨姷雼堧嫟. 须岇偓电� 2攵勱赴 靷儊 斓滊寑 毵れ稖 36鞏�5觳滊 雼煬毳� 旮半頄堦碃, 毵れ灔 牍勱祼 毵れ稖鞚� 5.0% 靹膘灔頄堨姷雼堧嫟. 頋劃 欤茧嫻靾滌澊鞚奠潃 欤茧嫻 4.71雼煬(GAAP) 氚� 4.38雼煬(苍辞苍-骋础础笔)搿�, 鞝勲厔鞚� 4.37雼煬鞕� 牍勱祼霅╇媹雼�.
须岇偓电� 2025雲� 鞝勲鞚� 靸來枼頃橃棳 毵れ灔 牍勱祼 毵れ稖鞚� 2.0%~3.5%(旮办〈 1.0%~3.0%鞐愳劀 靸來枼)搿�, 頋劃 欤茧嫻靾滌澊鞚奠潉 13.90雼煬~14.50雼煬(旮办〈 13.80雼煬~14.40雼煬鞐愳劀 靸來枼)搿� 鞓堨儊頃╇媹雼�. 霕愴暅 DICK'S電� 24鞏� 雼煬 攴滊鞚� Foot Locker 鞚胳垬臧� 欤检＜ 鞀轨澑瓿� 攴滌牅 鞀轨澑霌れ潉 氚涭晿鞙茧┌ 2025雲� 9鞗� 8鞚� 膦呺霅� 瓴冹溂搿� 鞓堨儊霅滊嫟瓿� 氚滍憸頄堨姷雼堧嫟.
须岇偓电� 鞁犼窚 毵れ灔 鞓ろ攬鞚� 韱淀暣 頇曥灔鞚� 鞚挫柎臧�瓿� 鞛堨溂氅�, 2攵勱赴鞐� House of Sport 1臧滌檧 DICK'S Field House 4臧� 毵れ灔鞚� 鞐措牳鞀惦媹雼�. 鞚挫偓須岆姅 攵勱赴 氚半嫻旮堨溂搿� 欤茧嫻 1.2125雼煬毳� 靹犾柛頄堨溂氅�, 氚半嫻旮堨潃 2025雲� 9鞗� 26鞚� 歆�旮夒惄雼堧嫟.
DICK'S Sporting Goods (NYSE:DKS) a publi茅 de solides r茅sultats pour le deuxi猫me trimestre 2025 et a relev茅 ses pr茅visions annuelles. La soci茅t茅 a r茅alis茅 des ventes record au deuxi猫me trimestre de 3,65 milliards de dollars, avec une croissance des ventes comparables de 5,0 %. Le b茅n茅fice dilu茅 par action s'est 茅lev茅 脿 4,71 $ (GAAP) et 4,38 $ (non-GAAP), contre 4,37 $ l'ann茅e pr茅c茅dente.
La soci茅t茅 a rehauss茅 ses perspectives pour 2025, pr茅voyant une croissance des ventes comparables de 2,0 % 脿 3,5 % (contre 1,0 % 脿 3,0 %) et un b茅n茅fice dilu茅 par action de 13,90 $ 脿 14,50 $ (contre 13,80 $ 脿 14,40 $). De plus, DICK'S a annonc茅 que son rachat de Foot Locker pour 2,4 milliards de dollars devrait 锚tre finalis茅 le 8 septembre 2025, apr猫s avoir re莽u l'approbation des actionnaires et toutes les autorisations r茅glementaires.
La soci茅t茅 poursuit son expansion avec nouvelles ouvertures de magasins, incluant une House of Sport et quatre emplacements DICK'S Field House au cours du deuxi猫me trimestre. Le conseil d'administration a d茅clar茅 un dividende trimestriel de 1,2125 $ par action, payable le 26 septembre 2025.
DICK'S Sporting Goods (NYSE:DKS) meldete starke Ergebnisse f眉r das 2. Quartal 2025 und hob seine Jahresprognose an. Das Unternehmen erzielte rekordverd盲chtige Ums盲tze im zweiten Quartal von 3,65 Milliarden US-Dollar bei einem vergleichbaren Umsatzwachstum von 5,0%. Der verw盲sserte Gewinn je Aktie lag bei 4,71$ (GAAP) bzw. 4,38$ (non-GAAP), gegen眉ber 4,37$ im Vorjahr.
Das Unternehmen hat seine Aussichten f眉r 2025 nach oben angepasst und erwartet nun ein vergleichbares Umsatzwachstum von 2,0% bis 3,5% (zuvor 1,0%鈥�3,0%) sowie einen verw盲sserten Gewinn je Aktie von 13,90$ bis 14,50$ (zuvor 13,80$鈥�14,40$). Au脽erdem k眉ndigte DICK'S an, dass die 2,4 Milliarden Dollar schwere 脺bernahme von Foot Locker voraussichtlich am 8. September 2025 abgeschlossen wird, nachdem die Aktion盲re und alle Regulierungsbeh枚rden zugestimmt haben.
Das Unternehmen setzt seine Expansion mit 狈别耻别谤枚蹿蹿苍耻苍驳别苍 fort, darunter ein House of Sport und vier DICK'S Field House-Standorte im 2. Quartal. Der Vorstand erkl盲rte eine Quartalsdividende von 1,2125$ je Aktie, zahlbar am 26. September 2025.
- Q2 comparable sales grew 5.0% with increases in both average ticket and transactions
- Record Q2 sales of $3.65 billion, up 5.0% year-over-year
- Raised full-year 2025 guidance for both comparable sales and earnings
- Foot Locker $2.4 billion acquisition received all approvals and set to close
- Expanded retail footprint with new House of Sport and Field House locations
- Strong balance sheet with $1.23 billion in cash and cash equivalents
- Cash and cash equivalents decreased 27% year-over-year to $1.23 billion
- Inventory levels increased 7% to $3.4 billion
- Non-GAAP net income decreased 2% to $355 million in Q2
- Higher effective tax rate of 24.7% compared to 22.7% in prior year
Insights
DICK'S delivered strong Q2 results with 5% comp growth, raising 2025 guidance while progressing toward Foot Locker acquisition.
DICK'S Sporting Goods posted record Q2 sales with
The retailer has raised its full-year 2025 outlook, now projecting comparable sales growth of
The acquisition of Foot Locker is progressing as planned, with shareholder approval secured and regulatory clearances obtained. The
From a capital allocation perspective, DICK'S continues aggressive investment in its premium store formats, having opened three new House of Sport locations and eight Field House locations year-to-date. The company repurchased
Gross capital expenditures reached
鈥� Delivers Record Second Quarter Sales and
鈥� Raises Full Year 2025 Guidance for Comparable Sales Growth to a Range of
- Delivered earnings per diluted share of
$4.71 $4.38 $4.37 - Opened one new House of Sport location and four new DICK'S Field House locations during the second quarter; Opened three new House of Sport locations and eight new DICK'S Field House locations year-to-date
- Raises full year 2025 guidance for comparable sales growth to a range of
2.0% to3.5% , up from1.0% to3.0% previously (A) - Raises full year 2025 earnings per diluted share guidance to a range of
$13.90 $13.80
"With Q2 comps at | |
听 Ed Stack, Executive Chairman | |
听 "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 | |
听听听 Lauren Hobart, President and Chief Executive Officer |
(A)听听 | Outlook does not include acquisition-related costs, investment gains or results from the planned acquisition of Foot Locker. Please see the section of this document titled "Full Year 2025 Outlook" for more information. |
听
听 Second Quarter Operating Results (dollars in millions, except per share data) | 13 Weeks Ended | Change (7) | |||||
August 2, 2025 | August 3, 2024 | ||||||
Net sales | $ | 3,647 | $ | 3,474 | $ | 173 | 5.0听% |
Comparable sales (1) | 5.0听% | 4.5听% | |||||
Income before income taxes (% of net sales) (2) | 14.0听% | 13.9听% | 9 bps | ||||
Non-GAAP income before income taxes (% of net sales) (2) (3) | 13.0听% | 13.9听% | (93) bps | ||||
Net income | $ | 381 | $ | 362 | $ | 19 | 5听% |
Non-GAAP net income (3) | $ | 355 | $ | 362 | $ | (7) | (2)听% |
Earnings per diluted share | $ | 4.71 | $ | 4.37 | $ | 0.34 | 8听% |
Non-GAAP earnings per diluted share (3) | $ | 4.38 | $ | 4.37 | $ | 0.01 | 鈥斕�% |
听 Year-to-Date Operating Results (dollars in millions, except per share data) | 26 Weeks Ended | Change (7) | |||||
August 2, 2025 | August 3, 2024 | ||||||
Net sales | $ | 6,821 | $ | 6,492 | $ | 329 | 5.1听% |
Comparable sales (1) | 4.7听% | 4.9听% | |||||
Income before income taxes (% of net sales) (2) | 12.6听% | 12.7听% | (13) bps | ||||
Non-GAAP income before income taxes (% of net sales) (2) (3) | 12.2听% | 12.7听% | (47) bps | ||||
Effective tax rate | 24.7听% | 22.7听% | 201 bps | ||||
Net income | $ | 646 | $ | 638 | $ | 8 | 1听% |
Non-GAAP net income (3) | $ | 629 | $ | 638 | $ | (8) | (1)听% |
Earnings per diluted share | $ | 7.95 | $ | 7.67 | $ | 0.28 | 4听% |
Non-GAAP earnings per diluted share (3) | $ | 7.75 | $ | 7.67 | $ | 0.08 | 1听% |
Balance Sheet (in millions) | As of August听2, 2025 | As of August听3, 2024 | $ Change (7) | % Change (7) | |||
Cash and cash equivalents | $ | 1,231 | $ | 1,692 | $ | (461) | (27)听% |
Inventories, net | $ | 3,404 | $ | 3,178 | $ | 226 | 7听% |
Total debt (4) | $ | 1,485 | $ | 1,484 | $ | 1 | 鈥斕�% |
Capital Allocation (in millions) | 26 Weeks Ended | $ Change (7) | % Change (7) | ||||
August 2, 2025 | August 3, 2024 | ||||||
Share repurchases (5) | $ | 299 | $ | 164 | $ | 135 | 83听% |
Dividends paid (6) | $ | 196 | $ | 183 | $ | 13 | 7听% |
Gross capital expenditures | $ | 526 | $ | 372 | $ | 154 | 41听% |
Net capital expenditures (3) | $ | 455 | $ | 326 | $ | 130 | 40听% |
Notes
(1)听 | Beginning in fiscal 2025, we revised our method for calculating comparable sales to include Warehouse Sale stores beginning in the stores' 14th full month of operations, similar to our other store locations. Prior year information has been revised to reflect this change for comparability purposes. See additional details as furnished in Exhibit 99.2 of the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025. |
(2)听听 | Also referred to by management as earnings before income taxes ("EBT"). |
(3)听听 | For additional information, see GAAP to non-GAAP reconciliations included in tables later in the release under the heading "GAAP to Non-GAAP Reconciliations." In the fiscal 2024 period, there were no non-GAAP adjustments to reported EBT margin, net income or earnings per diluted share. |
(4)听 | The Company had no outstanding borrowings under its revolving credit facility in 2025 and 2024. |
(5)听听 | During the 26 weeks ended August听2, 2025, the Company repurchased 1.4 million shares of its common stock under its previously announced share repurchase program at an average price of |
(6)听 | The Company declared and paid quarterly dividends of |
(7)听听 | Column may not recalculate due to rounding. |
Quarterly Dividend
On August听27, 2025, the Company's Board of Directors authorized and declared a quarterly dividend in the amount of
Agreement to Acquire Foot Locker听
On May 15, 2025, the Company announced that it entered into a definitive merger agreement to acquire Foot Locker, Inc., a leading footwear and apparel retailer. Under the terms of the merger agreement, Foot Locker shareholders will elect to receive either (i)
Full Year 2025 Outlook听(1)
The Company's Full Year Outlook for 2025 presented below does not include acquisition-related costs, investment gains or results from the planned acquisition of Foot Locker:
Metric | 2025 Outlook |
Earnings per diluted share | 鈼徧� 鈼嬏� Based on approximately 81 million diluted shares outstanding 鈼嬏� Based on an effective tax rate of approximately 鈼嬏� Includes the expected impact from all tariffs currently in effect |
Net sales | 鈼徧� |
Comparable sales | 鈼徧� Positive |
Capital expenditures | 鈼徧� Approximately 鈼徧� Approximately |
听 (1)听 Please see the section of this document titled "Non-GAAP Financial Measures" for more information. | |
Store Count and Square Footage
The following table summarizes store activity for fiscal 2025:
Beginning Stores | New Stores | Closed Stores | Relocated / Converted (5) | Ending Stores | (in millions) Square Footage (6) (7) | ||
Beginning | Ending | ||||||
DICK'S Sporting Goods (1) | |||||||
DICK'S (2) | 677 | 鈥� | (3) | (9) | 665 | 36.3 | 35.6 |
DICK'S Field House (2) | 27 | 2 | 鈥� | 6 | 35 | 1.6 | 2.0 |
DICK'S House of Sport | 19 | 鈥� | 鈥� | 3 | 22 | 2.2 | 2.6 |
Total DICK'S Sporting Goods | 723 | 2 | (3) | 鈥� | 722 | 40.1 | 40.2 |
Other Specialty Concepts (1) | |||||||
Golf Galaxy (3) | 109 | 3 | 鈥� | 鈥� | 112 | 2.4 | 2.5 |
Going Going Gone! (4) | 50 | 6 | (4) | 鈥� | 52 | 2.2 | 2.4 |
Other | 3 | 鈥� | 鈥� | 鈥� | 3 | 0.1 | 0.1 |
Total Other Specialty Concepts | 162 | 9 | (4) | 鈥� | 167 | 4.8 | 5.0 |
Total (4) | 885 | 11 | (7) | 鈥� | 889 | 44.8 | 45.1 |
(1)听 | In some markets, we operate DICK'S Sporting Goods stores adjacent to our specialty concept stores on the same property with a pass-through for our athletes. We refer to this format as a "combo store" and include combo store openings within both the DICK'S Sporting Goods and specialty concept store reconciliations, as applicable. As of August听2, 2025, the Company operated 15 combo stores. |
(2) | Beginning听store听count and square footage were updated to reflect one DICK'S Field House location that opened in fiscal 2024, which was previously reflected as a DICK'S store. |
(3) | As of August听2, 2025, includes 30 Golf Galaxy Performance Centers, with six new openings during fiscal 2025, three of which were conversions of prior Golf Galaxy store locations. |
(4) | Beginning store count and square footage were updated to reflect Warehouse Sale locations as described in the Company's Current Report on Form 8-K, filed with the SEC on March 11, 2025. As of February 2, 2025, beginning amounts now include 29 Warehouse Sale locations and 1.3 million of related square footage. |
(5)听 | Reflects stores converted between concept or prototype through store relocations or remodels as part of the Company's strategy to reposition its store portfolio. Including stores that converted between concepts, the Company relocated or remodeled six stores during the current year period. |
(6)听 | Includes square footage as of August听2, 2025 related to five Public Lands store closures as we plan to convert three into DICK'S House of Sport and two into DICK'S Field House stores during fiscal 2025 and early 2026. |
(7)听 | Columns may not recalculate due to rounding. |
Non-GAAP Financial Measures听
In addition to reporting the Company's financial results for the second quarter in accordance with generally accepted accounting principles ("GAAP"), the Company reports certain financial results for the quarter that differ from what is reported under GAAP. These non-GAAP financial measures include non-GAAP gross margin, non-GAAP operating margin (also referred to as non-GAAP EBIT margin), non-GAAP EBT margin, non-GAAP net income, non-GAAP earnings per diluted share and net capital expenditures, which management believes provides investors with useful supplemental information to evaluate the Company's ongoing operations and to compare with past and future periods. Furthermore, management believes that adjustments related to its deferred compensation plans enables investors to better understand its selling, general and administrative expense trends by excluding non-cash changes in our deferred compensation plan investment fair values from market fluctuations that are offset within other income. Management also uses these non-GAAP measures internally for forecasting, budgeting, and measuring its operating performance. These measures should be viewed as supplementing, and not as an alternative or substitute for, the Company's financial results prepared in accordance with GAAP. The methods used by the Company to calculate its non-GAAP financial measures may differ significantly from methods used by other companies to compute similar measures. As a result, any non-GAAP financial measures presented herein may not be comparable to similar measures provided by other companies. A reconciliation of the Company's non-GAAP measures to the most directly comparable GAAP financial measures are provided below and on the Company's website at investors.DICKS.com.
Information reconciling certain forward-looking GAAP measures to non-GAAP measures related to full year 2025 outlook and guidance, including earnings per diluted share, net sales, comparable sales and capital expenditures, in each case presented herein on a non-GAAP basis due to the exclusion of acquisition-related costs, investment gains or results from the planned acquisition of Foot Locker, is not available without unreasonable effort due to high variability, complexity and uncertainty involved in forecasting and quantifying certain amounts with respect to and resulting from the planned acquisition that are necessary for such reconciliations. For those reasons, we are unable to address the probable significance of the unavailable information, which could have a potentially unpredictable, and potentially significant, impact on our future GAAP financial results.
Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties
This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified as those that may predict, forecast, indicate or imply future results or performance and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", "intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Any statements about DICK'S Sporting Goods, Inc.'s ("DICK'S Sporting Goods"), Foot Locker, Inc.'s ("Foot Locker") or the combined company's plans, objectives, expectations, strategies, beliefs, or future performance or events constitute forward-looking statements. These statements are subject to known and unknown risks, uncertainties, assumptions, estimates, and other important factors that change over time, many of which may be beyond DICK'S Sporting Goods', Foot Locker's and the combined company's control. DICK'S Sporting Goods', Foot Locker's and the combined company's future performance and actual results may differ materially from those expressed or implied in such forward-looking statements. Forward-looking statements should not be relied upon as a prediction of actual results. Forward-looking statements include statements regarding, among other things, the Company's future performance, including 2025 guidance, continued comp growth, and improved gross margin; the benefits of the combination of DICK'S Sporting Goods and Foot Locker (the "Transaction"), including future financial and operating results and the combined company's plans, objectives, expectations, intentions, growth strategies and culture and other statements that are not historical facts.
Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements include, but are not limited to, current macroeconomic conditions, including prolonged inflationary pressures, potential changes to international trade relations, geopolitical conflicts and adverse changes in consumer disposable income; supply chain constraints, delays and disruptions; fluctuations in product costs and availability due to tariffs, currency exchange rate fluctuations, fuel price uncertainty and labor shortages; changes in consumer demand for products in certain categories and consumer lifestyle changes; intense competition in the sporting goods industry; the overall success of DICK'S Sporting Goods', Foot Locker's and the combined company's strategic plans and initiatives; DICK'S Sporting Goods', Foot Locker's and the combined company's vertical brand strategy and plans; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to optimize their respective distribution and fulfillment networks to efficiently deliver merchandise to their stores and the possibility of disruptions; DICK'S Sporting Goods', Foot Locker's and the combined company's dependence on suppliers, distributors, and manufacturers to provide sufficient quantities of quality products in a timely fashion; the potential impacts of unauthorized use or disclosure of sensitive or confidential customer, employee, vendor or other information; the risk of problems with DICK'S Sporting Goods', Foot Locker's and the combined company's information systems, including e-commerce platforms, and any associated disruptions to operations; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to attract and retain customers, executive officers and employees; our investments in GameChanger, our sports technology platform, DICK'S Media Network, and other technology to enhance our store fulfillment, in-store pickup and other foundational capabilities; potential reputational harm; our athlete experiences and associated costs, innovation, liability and competition associated with our specialty stores and vertical brands; increasing labor costs; the effects of the performance of professional sports teams within DICK'S Sporting Goods', Foot Locker's and the combined company's core regions of operations; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to control expenses and manage inventory shrink; the seasonality of certain categories of DICK'S Sporting Goods', Foot Locker's and the combined company's operations and weather-related risks; changes in applicable tax laws, regulations, treaties, interpretations and other guidance; product safety and labeling concerns; the projected range of capital expenditures of DICK'S Sporting Goods, Foot Locker and the combined company, including costs associated with new store development, relocations and remodels and investments in technology; plans to return capital to stockholders through dividends and share repurchases, if any; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to meet market expectations; the influence of DICK'S Sporting Goods' Class B common stockholders and associated possible scrutiny and public pressure; compliance and litigation risks, including sufficient insurance with respect thereto; changing rules, regulations and expectations related to environmental, social and governance matters; DICK'S Sporting Goods', Foot Locker's and the combined company's ability to protect their respective intellectual property rights or respond to claims of infringement by third parties; the availability of adequate capital; obligations and other provisions related to DICK'S Sporting Goods', Foot Locker's and the combined company's indebtedness; DICK'S Sporting Goods', Foot Locker's and the combined company's future results of operations and financial condition; the occurrence of any event, change or other circumstance that could give rise to the right of one or both of the parties to terminate the Transaction; the outcome of any legal proceedings that may be instituted against DICK'S Sporting Goods or Foot Locker, including with respect to the Transaction; the possibility that the Transaction does not close when expected or at all conditions to closing are not received or satisfied on a timely basis or at all; the risk that the benefits from the Transaction, including anticipated cost synergies, may not be fully realized or may take longer to realize than expected; the ability to promptly and effectively integrate the businesses of DICK'S Sporting Goods and Foot Locker following the closing of the Transaction; the dilution caused by the issuance of shares of DICK'S Sporting Goods common stock in the Transaction; the possibility that the Transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; the terms of the debt financing incurred in connection with the Transaction; reputational risk and potential adverse reactions of DICK'S Sporting Goods' or Foot Locker's customers, employees or other business partners; and the diversion of DICK'S Sporting Goods' and Foot Locker's management's attention and time from ongoing business operations and opportunities due to the Transaction. These factors are not necessarily all of the factors that could cause DICK'S Sporting Goods', Foot Locker's or the combined company's actual results, performance or achievements to differ materially from those expressed in or implied by any of the forward-looking statements. Other factors, including unknown or unpredictable factors, also could harm DICK'S Sporting Goods', Foot Locker's or the combined company's results.
For additional information on these and other factors that could affect DICK'S Sporting Goods' or Foot Locker's actual results, see the risk factors set forth in DICK'S Sporting Goods' and Foot Locker's filings with the Securities and Exchange Commission (the "SEC"), including DICK'S Sporting Goods' most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC, Foot Locker's most recent Annual Report on Form 10-K, filed with the SEC on March 27, 2025, and its other filings with the SEC, as well as the risks described in DICK'S Sporting Goods' registration statement on Form S-4 and definitive proxy statement/prospectus relating to the Transaction. DICK'S Sporting Goods and Foot Locker disclaim and do not undertake any obligation to update or revise any forward-looking statement in this communication, except as required by applicable law or regulation. Forward-looking statements included in this communication are made as of the date of this communication.
Conference Call Info听
The Company will host a conference call today at 10:00 a.m. Eastern Time to discuss the second quarter results. Investors will have the opportunity to listen to the earnings conference call over the internet through the Company's website located at . To listen to the live call, please go to the website at least fifteen minutes early to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, it will be archived on the Company's website for approximately twelve months.
About DICK'S Sporting Goods,听Inc.
DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by inspiring, supporting and personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in
Driven by its belief that sports have the power to change lives, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving and employment opportunities can be found on , , , and on , , and .
Contacts:
Investor Relations:
Nate Gilch, Senior Director of Investor Relations
DICK'S Sporting Goods, Inc.
[email protected]
(724) 273-3400
Media Relations:
(724) 273-5552 or [email protected]
Category: Earnings
听
DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (In thousands, except per share data) | ||||||||
13 Weeks Ended | ||||||||
August 2, 2025 | % of Sales | August 3, 2024 | % of Sales (1) | |||||
Net sales | $听 听 听 听 听 听 3,646,616 | 100.00听% | $听 听 听 听 听 听 3,473,635 | 100.00听% | ||||
Cost of goods sold, including occupancy and | 2,295,344 | 62.94 | 2,197,935 | 63.27 | ||||
GROSS PROFIT | 1,351,272 | 37.06 | 1,275,700 | 36.73 | ||||
Selling, general and administrative expenses | 878,737 | 24.10 | 796,673 | 22.93 | ||||
Merger and integration costs | 8,028 | 0.22 | 鈥� | 鈥� | ||||
Pre-opening expenses | 12,322 | 0.34 | 8,931 | 0.26 | ||||
INCOME FROM OPERATIONS | 452,185 | 12.40 | 470,096 | 13.53 | ||||
Interest expense | 16,118 | 0.44 | 13,521 | 0.39 | ||||
Other (income) expense | (73,749) | (2.02) | (25,756) | (0.74) | ||||
INCOME BEFORE INCOME TAXES | 509,816 | 13.98 | 482,331 | 13.89 | ||||
Provision for income taxes | 128,414 | 3.52 | 120,101 | 3.46 | ||||
NET INCOME | $听 听 听 听 听 听 听 听 381,402 | 10.46听% | $听 听 听 听 听 听 听 听362,230 | 10.43听% | ||||
EARNINGS PER COMMON SHARE: | ||||||||
Basic | $听 听 听 听 听 听 听 听 听 听 听 4.82 | $听听听听听听听听听听听听听听听听听听听听 4.50 | ||||||
Diluted | $听 听 听 听 听 听 听 听 听 听 听 4.71 | $听听听听听听听听听听听听听听听听听听听听 4.37 | ||||||
WEIGHTED AVERAGE COMMON SHARES | ||||||||
Basic | 79,147 | 80,432 | ||||||
Diluted | 81,041 | 82,814 | ||||||
(1)听Column does not add due to rounding | ||||||||
听
DICK'S SPORTING GOODS, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED (In thousands, except per share data) 听 | ||||||||
26 Weeks Ended | ||||||||
August 2, 2025 | % of Sales (1) | August 3, 2024 | % of Sales (1) | |||||
Net sales | $听听听听听听听听听听 6,821,293 | 100.00听% | $听 听 听 听 听 听6,492,019 | 100.00听% | ||||
Cost of goods sold, including occupancy and | 4,304,935 | 63.11 | 4,121,025 | 63.48 | ||||
GROSS PROFIT | 2,516,358 | 36.89 | 2,370,994 | 36.52 | ||||
Selling, general and administrative expenses | 1,664,265 | 24.40 | 1,540,071 | 23.72 | ||||
Merger and integration costs | 8,028 | 0.12 | 鈥� | 鈥� | ||||
Pre-opening expenses | 25,763 | 0.38 | 30,027 | 0.46 | ||||
INCOME FROM OPERATIONS | 818,302 | 12.00 | 800,896 | 12.34 | ||||
Interest expense | 28,256 | 0.41 | 27,357 | 0.42 | ||||
Other (income) expense | (67,493) | (0.99) | (51,148) | (0.79) | ||||
INCOME BEFORE INCOME TAXES | 857,539 | 12.57 | 824,687 | 12.70 | ||||
Provision for income taxes | 211,849 | 3.11 | 187,162 | 2.88 | ||||
NET INCOME | $听听听听听听听听听听听听听 645,690 | 9.47听% | $听 听 听 听 听 听 听 637,525 | 9.82听% | ||||
EARNINGS PER COMMON SHARE: | ||||||||
Basic | $听 听 听 听 听 听 听 听 听 听 8.15 | $听 听 听 听 听 听 听 听 听 听 7.92 | ||||||
Diluted | $听 听 听 听 听 听 听 听 听 听 7.95 | $听 听 听 听 听 听 听 听 听 听 7.67 | ||||||
WEIGHTED AVERAGE COMMON SHARES | ||||||||
Basic | 79,244 | 80,507 | ||||||
Diluted | 81,259 | 83,080 | ||||||
(1) Column does not add due to rounding | ||||||||
听
DICK'S SPORTING GOODS,听INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS - UNAUDITED (In thousands) 听 | ||||||
August 2, 2025 | August 3, 2024 | February 1, 2025 | ||||
ASSETS | ||||||
CURRENT ASSETS: | ||||||
Cash and cash equivalents | $听听听听听听听听听听听听听 1,231,022 | $听听听听听听听听听听听听 1,691,899 | $听听听听听听听听听听听 1,689,940 | |||
Accounts receivable, net | 223,879 | 168,495 | 214,250 | |||
Income taxes receivable | 29,792 | 11,410 | 4,920 | |||
Inventories, net | 3,403,914 | 3,178,024 | 3,349,830 | |||
Prepaid expenses and other current assets | 165,440 | 130,707 | 158,767 | |||
Total current assets | 5,054,047 | 5,180,535 | 5,417,707 | |||
Property and equipment, net | 2,431,782 | 1,862,206 | 2,069,914 | |||
Operating lease assets | 2,424,625 | 2,346,020 | 2,367,317 | |||
Intangible assets, net | 58,598 | 56,520 | 58,598 | |||
Goodwill | 245,857 | 245,857 | 245,857 | |||
Deferred income taxes | 3,387 | 31,928 | 52,684 | |||
Other assets | 472,475 | 212,893 | 246,617 | |||
TOTAL ASSETS | $听听听听听听听听听听 10,690,771 | $听听听听听听听听听听听 9,935,959 | $听听听听听听听听听 10,458,694 | |||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
CURRENT LIABILITIES: | ||||||
Accounts payable | $听听听听听听听听听听听听 1,401,800 | $听听听听听听听听听听听听 1,426,650 | $听听听听听听听听听听听听 1,497,743 | |||
Accrued expenses | 666,451 | 604,372 | 653,324 | |||
Operating lease liabilities | 504,975 | 489,511 | 503,236 | |||
Income taxes payable | 34,391 | 58,454 | 30,718 | |||
Deferred revenue and other liabilities | 371,900 | 342,019 | 395,041 | |||
Total current liabilities | 2,979,517 | 2,921,006 | 3,080,062 | |||
LONG-TERM LIABILITIES: | ||||||
Revolving credit borrowings | 鈥� | 鈥� | 鈥� | |||
听Senior notes | 1,484,707 | 1,483,734 | 1,484,217 | |||
Long-term operating lease liabilities | 2,619,090 | 2,423,264 | 2,500,307 | |||
Deferred income taxes | 40,535 | 鈥� | 鈥� | |||
Other long-term liabilities | 211,836 | 183,070 | 195,844 | |||
Total long-term liabilities | 4,356,168 | 4,090,068 | 4,180,368 | |||
COMMITMENTS AND CONTINGENCIES | ||||||
STOCKHOLDERS' EQUITY: | ||||||
Common stock | 556 | 568 | 567 | |||
Class听B common stock | 236 | 236 | 236 | |||
Additional paid-in capital | 1,502,184 | 1,463,498 | 1,495,329 | |||
Retained earnings | 6,843,448 | 6,045,601 | 6,392,513 | |||
Accumulated other comprehensive loss | (426) | (465) | (755) | |||
Treasury stock, at cost | (4,990,912) | (4,584,553) | (4,689,626) | |||
Total stockholders' equity | 3,355,086 | 2,924,885 | 3,198,264 | |||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $听听听听听听听听听听 10,690,771 | $听听听听听听听听听听听 9,935,959 | $听听听听听听听听听 10,458,694 | |||
听
DICK'S SPORTING GOODS,听INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED (In thousands) 听 | ||||
26 Weeks Ended | ||||
August 2, 2025 | August 3, 2024 | |||
CASH FLOWS FROM OPERATING ACTIVITIES: | ||||
Net income | $听听听听听听听听听听 645,690 | $听听听听听听听听听听听 637,525 | ||
Adjustments to reconcile net income to net cash provided by operating | ||||
Depreciation and amortization | 203,522 | 189,219 | ||
Amortization of deferred financing fees and debt discount | 5,774 | 1,162 | ||
Deferred income taxes | 89,832 | 5,918 | ||
Stock-based compensation | 37,948 | 32,812 | ||
Other, net | (32,591) | 2,443 | ||
Changes in assets and liabilities: | ||||
Accounts receivable | (11,670) | (34,396) | ||
Inventories | (54,084) | (329,227) | ||
Prepaid expenses and other assets | (17,185) | (10,464) | ||
Accounts payable | (88,601) | 141,555 | ||
Accrued expenses | (22,748) | 5,450 | ||
Income taxes payable / receivable | (21,199) | (3,356) | ||
Construction allowances provided by landlords | 70,583 | 46,556 | ||
Deferred revenue and other liabilities | (20,016) | (22,501) | ||
Operating lease assets and liabilities | (49,614) | (36,548) | ||
Net cash provided by operating activities | 735,641 | 626,148 | ||
CASH FLOWS FROM INVESTING ACTIVITIES: | ||||
Capital expenditures | (526,076) | (372,105) | ||
Proceeds from sale of other assets | 鈥� | 8,775 | ||
Other investing activities | (122,794) | (3,548) | ||
Net cash used in investing activities | (648,870) | (366,878) | ||
CASH FLOWS FROM FINANCING ACTIVITIES: | ||||
Payment of bridge facility financing fees | (7,863) | 鈥� | ||
Proceeds from exercise of stock options | 969 | 12,950 | ||
Minimum tax withholding requirements | (32,059) | (31,111) | ||
Cash paid for treasury stock | (303,671) | (163,567) | ||
Cash dividends paid to stockholders | (196,052) | (183,094) | ||
Decrease in bank overdraft | (7,342) | (3,633) | ||
Net cash used in financing activities | (546,018) | (368,455) | ||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 329 | (136) | ||
NET DECREASE IN CASH AND CASH EQUIVALENTS | (458,918) | (109,321) | ||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 1,689,940 | 1,801,220 | ||
CASH AND CASH EQUIVALENTS, END OF PERIOD | $听听听听听听听听听 1,231,022 | $听听听听听听听听 1,691,899 | ||
听
DICK'S SPORTING GOODS, INC. GAAP to NON-GAAP RECONCILIATIONS - UNAUDITED | ||||||||
听 Non-GAAP Net Income and Earnings Per Share Reconciliations (dollars in thousands, except per share amounts) 听 | ||||||||
13 Weeks Ended August 2, 2025 | ||||||||
Selling, general and administrative expenses | Merger and integration costs | Income from operations (4) | Interest expense | Other (income) expense | Income before income taxes | Net income (5) | Earnings per diluted share | |
GAAP Basis | $听听听听听听听听听听听 878,737 | $听听听听听听听 8,028 | $听听听听听 452,185 | $听听 16,118 | $听 (73,749) | $听 509,816 | $听听听听听听听听听听 4.71 | |
% of Net Sales | 24.10听% | 0.22听% | 12.40听% | 0.44听% | (2.02)听% | 13.98听% | 10.46听% | |
Investment gains (1) | 鈥� | 鈥� | 鈥� | 鈥� | 49,745 | (49,745) | (36,812) | |
Foot Locker | 鈥� | (8,028) | 8,028 | (4,508) | 鈥� | 12,536 | 10,337 | |
Deferred | (14,739) | 鈥� | 14,739 | 鈥� | 14,739 | 鈥� | 鈥� | |
Non-GAAP Basis | $听听听听听听听听听听 863,998 | $听听听听听听听听听听听听 鈥� | $听听听听 474,952 | $听听 11,610 | $听 (9,265) | $听 472,607 | $听 354,927 | $听听听听听听听听听听 4.38 |
% of Net Sales | 23.69听% | 鈥斕�% | 13.02听% | 0.32听% | (0.25)听% | 12.96听% | 9.73听% | |
听 (1) 听Includes non-cash gains from non-operating investment in Foot Locker equity securities. (2) 听Represents legal and regulatory fees, other professional services and deferred financing amortization on a bridge facility related to (3) 听Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts. (4) 听Also referred to by management as earnings before interest, other expense or income and income taxes ("EBIT"). (5) 听Except for | ||||||||
26 Weeks Ended August 2, 2025 | ||||||||
Selling, general and administrative expenses | Merger and integration costs | Income from operations (4) | Interest expense | Other (income) expense | Income before income taxes | Net income (5) | Earnings per diluted share | |
GAAP Basis | $听听听听听听听听 1,664,265 | $听听听听听听听 8,028 | $听听听听听听 818,302 | $听 28,256 | $听 (67,493) | $听 857,539 | $听 645,690 | $听听听听听听听听听 7.95 |
% of Net Sales | 24.40听% | 0.12听% | 12.00听% | 0.41听% | (0.99)听% | 12.57听% | 9.47听% | |
Investment gains (1) | 鈥� | 鈥� | 鈥� | 35,865 | (35,865) | (26,539) | ||
Foot Locker | 鈥� | (8,028) | 8,028 | (4,508) | 鈥� | 12,536 | 10,337 | |
Deferred听 | (9,031) | 鈥� | 9,031 | 鈥� | 9,031 | 鈥� | 鈥� | |
Non-GAAP Basis | $听听听听听听听听 1,655,234 | $听听听听听听听听听听听听 鈥� | $听听听听听听 835,361 | $听 23,748 | $听 (22,597) | $听 834,210 | $听 629,488 | $听听听听听听听听听 7.75 |
% of Net Sales | 24.27听% | 鈥斕�% | 12.25听% | 0.35听% | (0.33)听% | 12.23听% | 9.23听% | |
听 (1)听 Includes non-cash gains from non-operating investment in Foot Locker equity securities. (2)听 Represents legal and regulatory fees, other professional services and deferred financing amortization on a bridge facility related to (3)听 Includes non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts. (4)听 Also referred to by management as earnings before interest, other expense or income and income taxes ("EBIT"). (5)听 Except for | ||||||||
听
13 Weeks Ended August 3, 2024 | ||||||
Selling, general and administrative expenses | Income from operations (2) | Other (income) expense | Income before income taxes | Net income | Earnings per diluted share | |
GAAP Basis | $听听听听听听听听听听听听 796,673 | $听听听听听 470,096 | $听 听 (25,756) | $听听 482,331 | $听听听听听听听听听听听听 4.37 | |
% of Net Sales | 22.93听% | 13.53听% | (0.74)听% | 13.89听% | 10.43听% | |
Deferred compensation | (10,399) | 10,399 | 10,399 | 鈥� | 鈥� | |
Non-GAAP Basis | $听听听听听听听听听听听听 786,274 | $听听听听听听 480,495 | $听听听 (15,357) | $听听 482,331 | $听听听听听听听听听听听听 4.37 | |
% of Net Sales | 22.64听% | 13.83听% | (0.44)听% | 13.89听% | 10.43听% | |
听 (1)听 Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts. (2)听 Also referred to by management as earnings before interest, other expense or income and income taxes ("EBIT"). | ||||||
26 Weeks Ended August 3, 2024 | ||||||
Selling, general and administrative expenses | Income from operations (2) | Other (income) expense | Income before income taxes | Net income | Earnings per diluted share | |
GAAP Basis | $听听听听听听听听听 1,540,071 | $听听听听听 800,896 | $听听听 (51,148) | $听听 824,687 | $听 637,525 | $听听听听听听听听听听听听 7.67 |
% of Net Sales | 23.72听% | 12.34听% | (0.79)听% | 12.70听% | 9.82听% | |
Deferred compensation | (14,146) | 14,146 | 14,146 | 鈥� | 鈥� | |
Non-GAAP Basis | $听听听听听听听听听 1,525,925 | $听听听听听听 815,042 | $听听 (37,002) | $听听 824,687 | $听 637,525 | $听听听听听听听听听听听听 7.67 |
% of Net Sales | 23.50听% | 12.55听% | (0.57)听% | 12.70听% | 9.82听% | |
听 (1)听 Included non-cash changes in fair value of employee deferred compensation plan investments held in rabbi trusts. (2)听 Also referred to by management as earnings before interest, other expense or income and income taxes ("EBIT"). | ||||||
听
Gross Capital Expenditures to Net Capital Expenditures Reconciliation (in thousands)听 听 The following table represents a reconciliation of the Company's gross capital expenditures to its capital expenditures, net 听 | ||||
26 Weeks Ended | ||||
August 2, 2025 | August 3, 2024 | |||
Gross capital expenditures | $听听听听听听听听听听听听听听 (526,076) | $听听听听听听听听听听听听听听听 (372,105) | ||
Construction allowances provided by landlords | 70,583 | 46,556 | ||
Net capital expenditures | $听听听听听听听听听听听听听听 (455,493) | $听 听 听 听 听 听 听 听 (325,549) | ||
听
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FAQ
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