Dick's Sporting Goods Inc.'s stock rose 1% in premarket trading on Wednesday after the retailer beat Wall Street analyst projections for its first-quarter profit on its fifth straight quarter of same-store sales growth of more than 4%.

The company said it continues to face a "dynamic macroeconomic environment" of tariffs and other challenges, but still stuck to its full-year earnings projection.

The Pittsburgh-based retailer $(DKS)$ said its average ticket rose and margins expanded as its first-quarter same-store sales increased 4.5%, in line with its guidance issued on May 15 when it announced a $2.5 billion deal to buy athletic footwear and apparel retailer Foot Locker Inc. $(FL)$.

Executive Chairman Ed Stack said Wednesday the Foot Locker deal offers an opportunity "to create a global leader in the sports retail industry by serving a broader set of athletes," according to a statement.

Dick's said its first-quarter profit fell to $264 million, or $3.24 a share, from $275 million, or $3.30 a share in the year-ago quarter.

Its adjusted profit of $3.37 a share beat the FactSet consensus estimate of $3.21 a share.

Revenue rose 5.2% to $ 3.18 billion, ahead of the analyst estimate of $3.12 billion.

Looking ahead, Dick's said it expects full-year 2025 earnings of $13.80 to $14.40 a share, compared with the analyst estimate of $14.17 a share.

The results came after the company said on May 15 it expected to report adjusted first-quarter earnings of $3.37 a share due to a "strong start" to the year. It also projected first-quarter same-store sales growth of 4.5%.

On the same day, Dick's said it agreed to buy Foot Locker Inc. (FL) for $2.5 billion, to add the sneaker chain's fleet of mall stores to its base of larger, stand-alone locations.

Dick's Sporting Goods' stock has fallen 23.9% in 2025, while the S&P 500 SPX is up by 0.7% and the SPDR S&P Retail ETF XRT has fallen 4%.