Major tackle supplier acquires global footprint with billion-dollar acquisition

One of North America’s largest suppliers of fishing tackle has reported its fifth straight quarter of same store growth and the $2.4 billion acquisition that gives it a global footprint for the first time.

Dick’s Sporting Goods, which has added global retailer Foot Locker to its portfolio, saw store sales rise over 4% in the first quarter of the financial year and revenue increase 5.2% to $3.175 billion – ahead of analysts’ estimate of $3.018billion. However, profit fell to $264m.

But the big news was the Foot Locker addition. Executive Chairman, Ed Stack, said: “For many year we have admired Foot Locker’s brand and the powerful community it has built in the sneaker culture. By bringing the two great brands together, we see the opportunity to create a global leader in the sports retail industry by serving a broader set of athletes.”

Reviewing its financial performance, CEO Lauren Hobart told investors: “Our performance demonstrates the momentum and strength of our long-term strategies and consistency of our execution. Our Q1 comps increased 4.5% driven by growth in both average ticket and in transactions and this was our fifth straight quarter with comps over 4%.”

Dick’s maintains its full year guidance, which includes the expected impact from all tariffs currently in effect. It predicts revenue to be between $13.6 billion to $13.9 billion.

“We are reaffirming our 2025 outlook, which reflects our strong start to the year and confidence in our strategies and operational strength, while still acknowledging the dynamic macroeconomic environment, “added Hobart.