DICK’S Sporting Goods, Inc. (NYSE: DKS) is a major U.S. full-line omnichannel sporting goods retailer, providing equipment, apparel, and footwear for various sports. The company has reported strong quarterly results, highlighting a continued growth trajectory.

For the first quarter of fiscal year 2025, DICK’S Sporting Goods achieved a net sales increase of 5.2%, reaching $3.17 billion, up from $3.02 billion the previous year. Comparable sales rose 4.5%, marking the fifth consecutive quarter with over 4% growth. This performance underscores the company’s stable condition, as it continues to gain market share against other retailers, particularly in the digital and omnichannel segments.

Gross profit for the quarter was $1.17 billion, yielding a gross margin of 36.7%, an increase of 41 basis points from the prior year. The company’s non-GAAP earnings per diluted share (EPS) rose to $3.37, reflecting a 2.1% increase compared to $3.30 in Q1 2024. DICK’S Sporting Goods delivered double-digit earnings before tax (EBT) margin of 11.0%, alongside a non-GAAP EBT margin of 11.4%.

DICK’S Sporting Goods plans to maintain guidance for 2025, expecting comparable sales growth within the range of 1% to 3%. The EPS guidance is reaffirmed at between $13.80 to $14.40. The company anticipates net sales for the full year to be between $13.6 billion and $13.9 billion, driven by a focus on strategic investments and flatter SG&A expenses due to anticipated margin expansion.

During the first quarter, DICK’S Sporting Goods opened two new House of Sport locations, bringing its total to 21, and added four Field House locations, totaling 31 nationwide. The company also reported a 12% increase in inventory levels, totaling $3.57 billion. Cash and cash equivalents were reported at approximately $1 billion, down from $1.65 billion year-on-year.

In terms of capital allocation, net capital expenditures rose 92% year-over-year to $242 million, while share repurchases increased significantly to $299 million. As part of its growth strategy, the company has also announced plans to acquire Foot Locker, aiming to enhance its market share and create a broader consumer base.

The company’s tax rate was noted at approximately 24%, which is an increase from 19.6% the previous year. DICK’S Sporting Goods is focused on navigating ongoing economic complexities and maintaining a strong operational position within the highly competitive sporting goods market.