By Mackenzie Tatananni

It has been a challenging year for Dick's Sporting Goods. Shares have fallen nearly 10% in 2025, tamped down by weak guidance, skepticism over the retailer's decision to buy Foot Locker, and broader concerns about macroeconomic pressures.

For the third quarter ended Nov. 1, the sporting goods retailer posted adjusted earnings of $2.07 a share on net sales of $4.17 billion. Analysts expected FootLocker to report adjusted earnings of $2.69 a share and $3.18 million in net sales.

Comparable sales grew 5.7% in the quarter, driven by increases in both average ticket and transactions, the retailer said.

Dick's raised its fiscal-year guidance for comparable sales growth to a range of 3.5% to 4%, up from 2% to 3.5% previously. The company also guided for adjusted earnings in the range of $14.25 to $14.55 a share, up from $13.90 to $14.50 a share. Analysts tracked by FactSet were looking for $14.32 a share.

Shares fell 8.5% in the premarket session. Futures tracking the benchmark S&P 500 index were down slightly.

The third-quarter print represented the retailer's first earnings report since closing the acquisition of Foot Locker in early September. The deal initially drew scrutiny from investors, who questioned the decision to buy the struggling sneaker chain while undertaking a turnaround strategy itself.

Dick's said at the time the deal was announced that it would be accretive to earnings in the first full fiscal year after closing, and was expected deliver between $100 million to $125 million in cost synergies in the medium term. Hours before the report Tuesday, Dick's announced the appointment of Matthew Barnes as President of Foot Locker International, effective Dec. 3.

Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com

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November 25, 2025 07:37 ET (12:37 GMT)

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