Dick’s Sporting Goods delivers strong holiday quarter

Dick’s Sporting Goods full year revenues of 13 billion dollars increased 5 percent and the company delivered a 2.4 percent comparable store sales growth, driven by a 1.6 percent increase in transactions.

The company’s fourth quarter revenues increased 7.8 percent to 3.9 billion dollars with comparable sales growth of 2.8 percent.

The company’s fourth quarter earnings per diluted share of 3.57 dollars rose 37 percent and non-GAAP earnings per diluted share increased 31 percent to 3.85 dollars. Full year earnings per diluted share increased 13 percent to 12.18 dollars and non-GAAP earnings per diluted share were up 7 percent to 12.91 dollars.

“With our industry-leading assortment and strong execution, we capped off the year with an incredibly strong fourth quarter and holiday season. Our full year comps increased 2.4 percent, driven by growth in transactions, and we continued to gain market share. We are aiming for another strong year in 2024,” said Lauren Hobart, Dick’s president and chief executive officer in a statement.

For 2024, Dick’s expects net sales in the range of 13 billion dollars to 13.13 billion dollars with comparable store sales growth to be in the range of 1 percent to 2 percent and earnings per diluted share to be in the range of 12.85 dollars to 13.25 dollars.

The company increased the annualised dividend to 4.40 dollars per share, an increase of 10 percent and declared a quarterly dividend of 1.10 dollars per share.