Dick’s Sporting Goods posts record-breaking Q4 sales

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For the fiscal quarter ending February 3, 2024, U.S. retailer Dick’s Sporting Goods reported total revenues of $3.876 billion, an increase of 7.8 percent over the corresponding period in the previous year.

According to the Pittsburgh-based company, its growth was fueled by a significant 2.8% increase in comparable store sales over the course of the 13-week period.

With a comparable store sales gain of 2.4%, driven by a 1.6% increase in transactions, the company reached notable milestones in its full year 2023 results. Full-year diluted earnings per share for Dick’s were $12.18.

We had a fantastic fourth quarter and holiday season thanks to our industry-leading assortment and outstanding execution. “This was the largest sales quarter in the history of the Company, even excluding the extra week. We drove significant gross margin and EBT margin expansion during the fourth quarter,” stated Lauren Hobart, president and chief executive officer.

The year 2024 is shaping up to be another successful one for us. Positive comparatives, increased merchandise margin, and productivity gains are our plans to increase sales and profits. We will increase spending on growth measures to propel our company ahead and keep capturing market share in a dispersed 140-billion-dollar industry if our new store formats and omnichannel experience keep doing well.

In 2024, Dick’s plans to keep expanding, with full-year comparable store sales growth expected to be between 1.0% and 2.0% and earnings per diluted share predicted to be between $12.85 and $13.25.

Ethan Sullivan

Ethan's penchant for the pulse of the fashion world extends to covering lifestyle topics, offering readers a seamless blend of the latest style updates and lifestyle trends.

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