Dick’s Sporting Goods Q3 beats estimates, raises guidance
Dick’s Sporting Goods reported another strong quarter of better-than-expected top- and bottom-line results amid an “excellent” back-to-school season.
The nation’s largest sporting goods retailer posted net income of $228 million, or $2.75 a share, for the quarter ended Nov. 2, down from $240 million, or $2.39 a share, in the year-ago period. Adjusted earnings were $2.75 per share, topping analysts’ estimates of $2.68.
Sales rose to $3.057 billion from $3.042 billion a year ago, ahead of the $3.028 billion analysts had expected. Same-store sales rose 4.2%, easily topping the $2.7% rise t
“We had an excellent back-to-school season and continued to gain market share,” said Dick's CEO Lauren Hobart. “As a result of our strong performance in the quarter and the continued confidence we have in our business, we are again raising our full year outlook. We believe our differentiated product, quality service and powerful omnichannel experience will resonate well with our athletes this holiday season."
Dick’s now expects full-year same-store sales to grow 3.6% to 4.2%, up from its prior guidance of 2.5% to 3.5%. Full-year sales are still expected to range from $13.2 billion to $13.3 billion. Earnings per share are expected to range from $13.65 to $13.95, up from prior guidance of $13.55 to $13.90.
In addition to expanding its experiential House of Sport store concept, Dick’s is also revamping its 50,000-sq.-ft. namesake stores to its next-generation Dick's format, which it refers to internally as its "field house" concept.
“We continue to make strategic investments such as our House of Sport and Dick’s Field House concepts, where we are redefining sports retail and creating strong engagement with our athletes, brand partners and communities, that will fuel our long-term growth,” said executive chairman Ed Stack. “Sport continues to have a strong influence on culture, and culture on sport, and our House of Sport concept is uniquely positioned to meet the needs of athletes as they look for the best of performance as well as the lifestyle of sport."
On the earnings call, Hobart said the company expects to open approximately 15 House of Sport locations in 2025, and it remains on track to have 75 to 100 locations open by 2027. The vast majority of the openings will be relocations or remodels of existing locations.
"The Texas market is an exciting growth opportunity for us, and it's one of the areas where we are investing in new House of Sports locations, in marketing, and in our infrastructure to enhance the omni-channel experience for our athletes and capture this potential," Hobart told analysts, adding that the company broke ground during the quarter on a new distribution center in Fort Worth, Texas, which is expected to open in early 2026.
As of Nov. 2, Dick’s operated 727 namesake stores (includes 17 House of Sports stores and 22 Dick’s Field House stores) and 137 specialty concept stores (includes109 Golf Galaxy stores, eight Public Lands stores and 20 Going Going Gone! Stores).
