Dick’s Sporting Goods Inc. Q4 profit jumps 6.9 percent

Nathan Andrada – Fourth Estate Cooperative Contributor

New York, NY, United States (4E) – Dick’s Sporting Goods Inc. reported a 6.9 percent rise in its fiscal fourth-quarter profit, which topped estimates, boosted by a rise in sales, despite the period being shorter by a week.

Profit was $138.6mn, or $1.11 per share, for the quarter ended Feb. 1, which compared with a profit of $129.7mn, or $1.03 per share, in the previous year. The company had forecast $1.04 to $1.07 earnings per share.

The company’s revenue increased 7.9 percent to $1.95bn, surpassing analysts’ estimates of $1.94bn, though the year-earlier period included an extra week of sales.

For the new fiscal year, Dick’s predicts per-share earnings of $3.03 to $3.08, lower than the average analysts’ estimate of $3.11. The company also expects a 3 percent to 4 percent rise in same-store sales for the year and the current quarter.

Last month, Dick’s raised its guidance for the period, citing higher sales and merchandise margins. The company predicted a 7 percent gain in consolidated same-store sales in the quarter, from its previous reading of a 3 percent to 4 percent rise. Tuesday’s report showed that the figure stood at a 7.3 percent gain.

Article © AHN – All Rights Reserved
About the Author

Leave a Reply