Dick’s Sporting Goods Sees 36% Boost in Q3 Following Foot Locker Integration

Dick’s is growing on the back of its new acquisition. The U.S. sports equipment retailer closed the last quarter of the current fiscal year, which was marked by the acquisition of Foot Locker, by increasing its turnover by 36.3%. Without the contribution of the European chain, the group’s sales grew by 5.8%.

In total, the group’s sales for the period (ended November 1st) came to $4.168 billion, while net income came to $75 million, a far cry from the $228 million it earned at the end of the third quarter of 2024.

Through its eponymous chain, the U.S. giant reported sales of $3.236 billion, 5.8% more than in the third quarter of the previous year. This was, however, the first period in which the group also integrated the Foot Locker business into its results, after acquiring the chain for $2.4 billion. In total, Foot Locker sales generated $930.9 million for Dick’s during the third quarter.

Dick’s has included for the first time Foot Locker’s sales of $930.9 million during the third quarter

“We are very excited about the acquisition of Foot Locker, which is a transformational step forward and will allow us to expand our reach,“ explained Ed Stack, executive chairman of the U.S. group. Gross profit was $1.16 billion for Dick’s, up 6.6%, and another $214.2 million for the group’s new chain.

Along with the presentation of results, the company also explained the future plans for Foot Locker within the group. Having created a new management team for the chain, which has seen the incorporation of Matthew Barnes and Ann Freeman as captains of the business in Europe, Asia and Australia and the United States, respectively, the U.S. giant has begun a restructuring of Foot Locker’s inventory and retail park, whereby it plans to close inefficient stores.

“These measures, combined with our expertise and strong relationships with our suppliers (...), position the Foot Locker business on the path to score profitable growth,“ Stack assessed. “We are excited to join Foot Locker on its journey to take its rightful place in the industry,“ added Lauren Hobart, Dick’s CEO.

The U.S. group has initiated a restructuring of the business of its new acquisition

For the first nine months of the year as a whole, the US sports equipment retailer reported sales of $10.989 billion, up 15.1% on the previous year. The company’s gross profit also rose to $1.38 billion, 26.2% higher than in the first nine months of 2024.

Despite having increased its sales, the company’s earnings have suffered in the period, with a decline even greater than the giant’s revenue growth. At the end of October, Dick’s posted a profit of $721 million, compared to the $865 million it earned in the same period last year. The giant’s net profit thus fell by 17% in the first nine months.