Sportswear company DICK’S Sporting Goods, Inc. (NYSE: DKS) on Tuesday reported a decrease in adjusted earnings for the third quarter of fiscal 2025, despite a year-over-year increase in sales.
DICK’s reported net income of $75 million or $0.86 per share in the third quarter, compared to $228 million or $2.75 per share in the year-ago quarter. Adjusted earnings were $2.07 per share, vs. $2.75 per share last year. Meanwhile, net sales jumped 36% year-over-year to $4.2 billion in the October quarter. Comparable store sales rose 5.7% in Q3.
The company raised its full-year 2025 guidance for comparable sales growth to a range of 3.5% to 4% from the earlier forecast of a 2-3.5% growth. It also increased full-year earnings per share guidance to a range of $14.25 to $14.55 from the previous outlook of $13.90-14.50.
“The effectiveness of our long-term strategies and the best-in-class execution by our team are driving outstanding results for our DICK’S Business. In the third quarter, the DICK’S Business comps grew 5.7%, driven by increases in both average ticket and transactions, and we were pleased to deliver gross margin expansion,” said Lauren Hobart, CEO of DICK’s Sporting.