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Investing.com -- Dick’s Sporting Goods reported better-than-expected second-quarter results on Wednesday, delivering record sales and raising its full-year outlook as the retailer continues to see strong consumer demand. Shares of the company rose 1.9% following the announcement.
The sporting goods retailer posted adjusted earnings per share of $4.38 for the second quarter, exceeding analyst expectations of $4.30. Revenue reached $3.65 billion, surpassing the consensus estimate of $3.61 billion and representing a 5% increase compared to the same period last year. Comparable store sales grew 5.0% YoY, driven by growth in both average ticket size and transaction volume.
"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," said Lauren Hobart, President and Chief Executive Officer.
Following the strong quarter, Dick’s raised its full-year 2025 guidance, now expecting comparable sales growth of 2.0% to 3.5%, up from its previous forecast of 1.0% to 3.0%. The company also increased its earnings per share outlook to $13.90 to $14.50, compared to its earlier projection of $13.80 to $14.40. The current analyst consensus for full-year EPS stands at $14.37.
The company continues to expand its store footprint, opening one new House of Sport location and four new DICK’S Field House locations during the second quarter. Year-to-date, Dick’s has opened three House of Sport locations and eight Field House locations.
Dick’s also reaffirmed that its acquisition of Foot Locker is on track to close on September 8, following shareholder approval and receipt of all required regulatory clearances. The $2.4 billion deal, announced in May, is expected to strengthen Dick’s position in the athletic footwear market.
The company’s board declared a quarterly dividend of $1.2125 per share, payable on September 26 to shareholders of record as of September 12.