Latest news with #DICK'SSportingGoods
Fibre2Fashion
2 days ago
- Business
- Fibre2Fashion
US' Foot Locker's sales decline 4.6%, to $1,788 mn in Q1
Total sales of American footwear retailer Foot Locker were down 4.6 per cent, to $1,788 million, as compared with sales of $1,874 million in the first quarter of 2024. Excluding the effect of foreign exchange rate fluctuations, total sales for the first quarter decreased by 4.5 per cent. Comparable sales decreased by 2.6 per cent, with comparable sales in the North American region decreasing by 0.5 per cent. Comparable sales in the company's international businesses decreased by 8.5 per cent, led by softness in Foot Locker Europe. Foot Locker reported Q1 sales of $1.79 billion, down 4.6 per cent y-o-y, with comparable sales falling 2.6 per cent. North America saw a 0.5 per cent drop, while international sales declined 8.5 per cent. Gross margin decreased by 40 basis points, and SG&A rose 100 basis points as a percentage of sales. The company opened 9 stores, closed 56, and updated 80 locations. Gross margin decreased by 40 basis points as compared with the prior-year period. Merchandise margins decreased by 10 basis points, while occupancy as a percentage of sales increased by 30 basis points as compared to the prior-year period, the company said in a press release. "We are continuing to execute our Lace Up Plan strategies as we look forward to the successful completion of our transaction with DICK'S Sporting Goods. As we noted at the time we reported preliminary first quarter results, we experienced softer traffic trends globally that impacted our performance. During the quarter, we remained focused on the rollout of our Re-imagined and Refresh programs to elevate our in-store experience, enhancing our digital offerings, deepening customer engagement through our FLX programme and leveraging our strong brand partnerships to generate excitement for our customers. As we have executed these and other initiatives to further advance our strategy, our teams have also remained nimble to navigate the uncertain macroeconomic environment, including managing our promotional levels, inventories, and expenses and remaining disciplined with our cash flows," said Mary Dillon, chief executive officer . SG&A as a percentage of sales increased by 100 basis points as compared with the prior-year period, due to underlying deleverage on the sales decline and investments in technology which more than offset the cost optimisation programme and ongoing expense discipline. Compared to the prior year, SG&A dollars were down 0.7 per cent. During the first quarter, the company opened 9 new stores and closed 56 stores, including its stores that operated in South Korea, Denmark, Norway, Sweden, Greece, and Romania. Also during the quarter, the company remodeled or relocated 11 stores and refreshed 69 stores to updated design standards, which incorporate key elements of the current brand design specifications. Fibre2Fashion News Desk (RR)
Associated Press
5 days ago
- Business
- Associated Press
The DICK'S Sporting Goods Foundation Quarterly Giving Series: Q1 2025
Originally published on DICK'S Sporting Goods Sideline Report TOGETHER, WE CHANGE LIVES Today we're bringing you the latest quarterly giving series from The DICK'S Sporting Goods Foundation to highlight the great work being done in support of our mission to help inspire and enable youth sports participation. In our first quarter of 2025, we: Read on to learn more. Disaster Relief Fundraiser Update In February, DICK'S Sporting Goods and The DICK'S Sporting Goods Foundation pledged more than $10 million to support communities impacted by the devastating wildfires in Los Angeles and the historic flooding in Asheville, North Carolina following Hurricane Helene. Through a four-week disaster relief campaign at point-of-sale (POS), store teammates raised $977,000. The DICK'S Foundation matched those donations – and brought the total giving from the campaign to $2 million. All proceeds are being directed to schools and non-profit organizations in the Los Angeles and Asheville areas affected by the recent disasters. Read more about DICK'S and The DICK'S Sporting Goods Foundation's $10 million natural disaster relief and recovery pledge here. Scoring Big for Sports Matter We clinched a win on and off the ice at this year's 7th annual Sports Matter Night with the Pittsburgh Penguins! More than $19,000 was raised for our Sports Matter Program through our Sports Matter Auction, sale of warm up and mystery pucks and our special ticket offer. We were joined by local corporate and field teammates. During the game's first intermission, The DICK'S Sporting Goods Foundation surprised Pittsburgh I.C.E. with a $25,000 Sports Matter Grant! The organization offers kids of all socio-economic backgrounds the opportunity to lace up and learn to play hockey. Run It Back: DICK'S & Brooks Team Up for the 2025 Empower Her Collection For the sixth year in a row, DICK'S Sporting Goods and Brooks are teaming up to give every girl a chance to run with the Empower Her Collection. DICK'S and Brooks together will donate $1 for every pair of socks, $5 for every apparel item and $10 for every pair of shoes with The DICK'S Sporting Goods Foundation logo on it sold through Dec. 31, 2025, up to a combined total of $500,000, to Marathon Kids via The DICK'S Sporting Goods Foundation. Check out the 2025 Empower Her Collection here. Celebrating Those Protecting Public Lands Guides at Public Lands nominated three outstanding organizations for a Public Lands Fund grant. My Team Triumph, The Hiking Buddies and Allegheny Cleanways will each receive a $5,000 grant to continue work to conserve public lands and create a more accessible and equitable outdoors. Learn more about the Public Lands Fund here. THESE MOMENTS ARE MADE POSSIBLE BY CONTRIBUTIONS TO THE SPORTS MATTER FUND. IF YOU'D LIKE TO DONATE, VISIT Written by Hilary Totin Visit 3BL Media to see more multimedia and stories from DICK'S Sporting Goods
USA Today
6 days ago
- Entertainment
- USA Today
Gear up for Father's Day with the ultimate DICK'S Sporting Goods gift guide
Gear up for Father's Day with the ultimate DICK'S Sporting Goods gift guide Feeling stuck and don't know what to get your dad for Father's Day? Well, you're not alone as many wind up scrambling for last-minute gifts. However, that scramble can be eliminated with one simple solution: DICK'S Sporting Goods! Whether your dad is into golfing, running, biking, being outdoors or weight lifting, DICK'S has a wide variety of great gift options available to truly make your dad feel cared for. More gift ideas: Father's Day gift ideas for the sports fan, outdoorsy guy and grill master dad To help you out, we curated the ultimate Father's Day gift guide that you're practically guaranteed to score a big hug and smile from dad this year. Here's a glance at some of the top products DICK'S has available for dad. Shop gifts for dad at DICK'S Sporting Goods 1. Callaway Elyte driver Summer is the perfect time to head to the driving range or hit the golf course for 18 holes. This new driver from Callaway earned a full write up from Golfweek's equipment guru David Dusek. 2. '47 Adult New York Knicks Clean Up adjustable hat As the NBA Playoffs wind down, repping his favorite team is a common theme for many dads. The clean up adjustable hat is sure to be a staple that he'll be wearing for years to come. 3. Nike Brasilia 9.5 training duffel bag A great multi-use duffel bag that can be used for going to the gym, the golf course and much more. The duffel bag includes a coated bottom for water resistance and durability and is for the practical dad. 4. Brooks men's Ghost 17 running shoes Using a super old pair of running shoes is a common trend with dad's as they're always attempting to "save money" when possible. Well, treat dad to a fresh pair of Brooks Ghost 17 running shoes, which feature great dynamic cushioning. 5. Golf Daddy - Golf At home simulator This caught my eye right away. For many who can't head out to a golf simulator on a weekly basis but want to work on their golf game, this golf at home simulator is the perfect gift. Now dad is able to work on his golf swing anytime, anywhere, even without a ball. 6. Mongoose Adult 29' Grendel adventure bike Running a bike into the ground is also something a lot of dads do, because, well, money is precious. Treat dad to a brand new bike that is made for off-road biking. 7. Nike Men's Club fleece hoodie Fleece hoodies are always a great gift as they can easily become staples for dad to use for years to come. The combination of soft and smooth materials helps make this a go-to. 8. birddogs mens khaki shorts You know it's summer time when dad breaks out the ripped and tattered khaki shorts he bought over 10 years ago. They might be called his "mowing shorts." Freshen up his look with some new khaki shorts that are breathable and will keep him cool. 9. Fitness Gear 300 lb. Olympic weight set Trash those rusty looking dumbbells for a fresh set of weights that's sold exclusively by DICK'S. Dad's will love the ability to do a wide range of exercises with this weight set, which includes multiple plates. 10. Nike men's calm slides Whether you're out on the deck, at the community pool or on the beach, slides are an underrated option that always perform. These slides feature a soft, yet supportive foam. When is Father's Day 2025? Father's Day in 2025 is Sunday, June 15.
Yahoo
6 days ago
- Business
- Yahoo
Morgan Stanley Lowers Target for DICK's Sporting Goods (DKS), Keeps Overweight Rating
On Wednesday, May 28, Morgan Stanley reduced the price target to $232 from $255 for DICK'S Sporting Goods, Inc. (NYSE:DKS) and maintained an 'Overweight' rating. Morgan Stanley analysts highlighted the steady growth of the company's main DICK'S banner stores' comparable sales. This momentum is supported by expanded relationships with major brands and an improved shopping experience for customers, especially athletes. A customer in a specialty concept store wearing a full outfit of apparels and sports gear. The firm's analysts expect that if there are no major economic headwinds, DICK'S Sporting Goods, Inc. (NYSE:DKS) will achieve operating leverage in the second half of 2025. According to the analysts, the integration of Foot Locker is also an important factor that could boost the company's performance. Despite lowering the price target, Morgan Stanley analysts have a positive outlook on the company's future. They believe DICK'S Sporting Goods, Inc. (NYSE:DKS) has a strong ability to reconnect with customers and should be able to capitalize on business strategies, especially during the second half of the year. The reduced price target reflects the firm's careful consideration of the current retail market and where DICK'S Sporting Goods, Inc. (NYSE:DKS) stands. While we acknowledge the potential of DKS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than DKS and that has a 100x upside potential, check out our report about the cheapest AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
Foot Locker (NYSE:FL) Reports Sales Below Analyst Estimates In Q1 Earnings
Footwear and apparel retailer Foot Locker (NYSE:FL) fell short of the market's revenue expectations in Q1 CY2025, with sales falling 4.5% year on year to $1.79 billion. Its non-GAAP loss of $0.07 per share was significantly below analysts' consensus estimates. Is now the time to buy Foot Locker? Find out in our full research report. Revenue: $1.79 billion vs analyst estimates of $1.84 billion (4.5% year-on-year decline, 2.3% miss) Adjusted EPS: -$0.07 vs analyst estimates of -$0.02 (significant miss) Adjusted EBITDA: -$214 million vs analyst estimates of $52.35 million (-11.9% margin, significant miss) Operating Margin: -15.1%, down from 1% in the same quarter last year Free Cash Flow was -$61 million compared to -$18 million in the same quarter last year Locations: 2,363 at quarter end, down from 2,490 in the same quarter last year Same-Store Sales fell 2.6% year on year, in line with the same quarter last year Market Capitalization: $2.28 billion Mary Dillon, Chief Executive Officer said, "We are continuing to execute our Lace Up Plan strategies as we look forward to the successful completion of our transaction with DICK'S Sporting Goods. As we noted at the time we reported preliminary first quarter results, we experienced softer traffic trends globally that impacted our performance. During the quarter, we remained focused on the rollout of our Reimagined and Refresh programs to elevate our in-store experience, enhancing our digital offerings, deepening customer engagement through our FLX program and leveraging our strong brand partnerships to generate excitement for our customers. As we have executed these and other initiatives to further advance our strategy, our teams have also remained nimble to navigate the uncertain macroeconomic environment, including managing our promotional levels, inventories, and expenses and remaining disciplined with our cash flows." Known for store associates whose uniforms resemble those of referees, Foot Locker (NYSE:FL) is a specialty retailer that sells athletic footwear, clothing, and accessories. A company's long-term sales performance is one signal of its overall quality. Any business can have short-term success, but a top-tier one grows for years. With $7.90 billion in revenue over the past 12 months, Foot Locker is a mid-sized retailer, which sometimes brings disadvantages compared to larger competitors benefiting from better economies of scale. As you can see below, Foot Locker struggled to increase demand as its $7.90 billion of sales for the trailing 12 months was close to its revenue six years ago (we compare to 2019 to normalize for COVID-19 impacts). This was mainly because it closed stores and observed lower sales at existing, established locations. This quarter, Foot Locker missed Wall Street's estimates and reported a rather uninspiring 4.5% year-on-year revenue decline, generating $1.79 billion of revenue. Looking ahead, sell-side analysts expect revenue to remain flat over the next 12 months. This projection doesn't excite us and implies its newer products will not catalyze better top-line performance yet. Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. A retailer's store count influences how much it can sell and how quickly revenue can grow. Foot Locker operated 2,363 locations in the latest quarter. Over the last two years, the company has generally closed its stores, averaging 6.1% annual declines. When a retailer shutters stores, it usually means that brick-and-mortar demand is less than supply, and it is responding by closing underperforming locations to improve profitability. A company's store base only paints one part of the picture. When demand is high, it makes sense to open more. But when demand is low, it's prudent to close some locations and use the money in other ways. Same-store sales provides a deeper understanding of this issue because it measures organic growth at brick-and-mortar shops for at least a year. Foot Locker's demand has been shrinking over the last two years as its same-store sales have averaged 1.9% annual declines. This performance isn't ideal, and Foot Locker is attempting to boost same-store sales by closing stores (fewer locations sometimes lead to higher same-store sales). In the latest quarter, Foot Locker's same-store sales fell by 2.6% year on year. This performance was more or less in line with its historical levels. It was encouraging to see Foot Locker beat analysts' gross margin expectations this quarter. On the other hand, its revenue, EPS, and EBITDA fell short of Wall Street's estimates. Overall, this was a softer quarter. The stock remained flat at $23.94 immediately after reporting. Is Foot Locker an attractive investment opportunity at the current price? When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free.
