Strong DICK'S Business Performance
DICK'S Sporting Goods reported a 5.7% increase in comparable sales for Q3, building on a 4.3% increase last year and a 1.9% increase in 2023. Gross margin expanded by 27 basis points, and non-GAAP EPS increased to $2.78 from $2.75 in the prior year's quarter.
House of Sport Expansion
DICK'S opened 13 new House of Sport locations in Q3, the most in a single quarter, bringing the total to 35 nationwide. This expansion is part of a strategic focus on real estate and store portfolio growth.
Raising Full-Year Outlook
DICK'S raised its full-year outlook for the business, now expecting comp sales growth of 3.5% to 4% and EPS in the range of $14.25 to $14.55.
Successful Integration of Foot Locker
Despite initial challenges, DICK'S is confident in the long-term value of the Foot Locker acquisition, with plans for it to be accretive in 2026, supported by a new management team and a focus on operational excellence.