Dick’s Sporting Goods' push to bring its 2025, $2.4 billion acquisition of Foot Locker back into the black is starting to demonstrate a sales rebound.
Amid its new report of a successful quarter that includes a comp sales increase of 6% in its established stores, Dick’s Sporting Goods (NYSE: DKS) included results that its Foot Locker business is back into positive sales territory for the first time in nearly three years.
Dick’s Chairman Ed Stack, who is serving as point man overseeing the Foot Locker turnaround effort, was quick to highlight the first successful sales signals in his prepared remarks on the company’s earnings call Wednesday morning.
“We remain highly focused on the transformational opportunity ahead and on delivering an inflection point in sales and profitability, starting with back to school. Our excitement and confidence continue to build as we execute our plan and in the first quarter, we saw encouraging proof points,” he said. “For the global Foot Locker business, we delivered slightly positive comps and operating income, with merchandise margin improvement. This marks the first quarter of positive comps for the Footlocker business since the fourth quarter of 2024.”
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