DICK’S Sporting Goods is a US-based full-line omni-channel sporting goods retailer. Credit: APN Photography/Shutterstock.

US-based omni-channel sporting goods retailer DICK’S Sporting Goods has reported 4.2% growth in comparable sales for the third quarter (Q3) of fiscal 2024 (FY24) – an improvement from the 1.9% growth seen in Q3 FY23. 

During the quarter ended 2 November 2024, DICK’S Sporting Goods achieved net sales of $3.05bn, a 0.5% increase from $3.04bn in Q3 FY23.  

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The company’s net income was $228m, up by 13% compared to $201m in the same quarter of the previous year, with earnings per diluted share climbing to $2.75, reflecting a 15% increase from $2.39 in Q3 FY23. 

DICK’S Sporting Goods president and CEO Lauren Hobart said: “We are very proud of our Q3 results and our performance year-to-date. Our third quarter comp sales grew 4.2%, driven by a continued focus on our strategic pillars and great execution from our team.”  

In the year to date, figures show that net sales for DICK’S Sporting Goods increased by 4.8% to $9.54bn compared to $9.10bn in the same period of 2024, with comparable sales for this period at 4.7%, up from 2.5%. 

For the 39 weeks ended 2 November 2024, net income was reported at $865m, a significant increase of 15% from $750m for the corresponding period ending on 28 October 2023. Its earnings per share (EPS) for this period also saw an impressive rise of 21% to $10.43. 

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“We had an excellent back-to-school season and continued to gain market share. As a result of our strong performance in the quarter and the continued confidence we have in our business, we are again raising our full-year outlook. We believe our differentiated product quality service and powerful omnichannel experience will resonate well with our athletes this holiday season,” Hobart noted. 

Looking ahead to the full year 2024, DICK’S Sporting Goods expects net sales to range between $13.2bn and $13.3bn with comparable sales growth projected to be between 3.6% and 4.2%.  

The company anticipates EPS to be between $13.65 and $13.95.