Dick’s Sporting Goods profits, sales increase over holiday quarter
March 11, 2014 9:12 AM
By Teresa F. Lindeman / Pittsburgh Post-Gazette
Cold weather didn’t put the chill on Dick’s Sporting Goods over the holiday quarter.
The Findlay sporting goods retailer this morning reported a profit of $138.6 million, or $1.11 per share, for the three months that ended Feb. 1. That compares to $129.7 million, or $1.03 per share, during the same period a year earlier.
Sales rose 7.9 percent to $1.9 billion last year.
Ed Stack, the company’s chairman and CEO, said the sales and merchandise margin exceeded the company’s expectations. “As we look to 2014, we believe our robust and growing omni-channel network and exciting merchandising opportunities will support double-digit growth in earnings.”
For the full fiscal year, Dick’s reported a profit of $337.6 million, or $2.69 per share, compared to $290.7 million, or $2.31 per share, a year earlier.
Net sales rose 6.5 percent for the year to hit $6.2 billion. Sales at Dick’s Sporting Goods stores open at least a year rose 2.4 percent, while those at Golf Galaxy sites fell 7.1 percent.
Looking ahead, Dick’s is projecting earnings per share for the coming fiscal year will be in the range of $3.03 to $3.08 per share.
The company also is expecting to open about 50 Dick’s stores, eight Field & Stream stores and one Golf Galaxy store this year.
Teresa F. Lindeman: email@example.com or at 412-263-2018.
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