DICK’S Sporting Goods, the American omnichannel sporting goods retailer, has reported earnings per diluted share at $14.05 for the full fiscal year 2024 (FY24) – a 15% increase from the $12.18 recorded in 2023.
Over the entire FY24, the retailer achieved 5.2% growth in comparable sales, attributing this success to increases in both average ticket prices and transaction volume.
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The company’s total net sales for the fiscal year climbed to $13.44bn, marking a 3.5% gain from the previous fiscal year.
Net income was $1.16bn, an 11%increase from the previous fiscal year.
The company delivered its highest-ever quarterly sales with a 6.4% increase in comparable sales during the fourth quarter (Q4) of fiscal 2024 (FY24).
This figure surpasses the 2.9% increase recorded in the same period of fiscal 2023.
For the fourth quarter of FY24, DICK’S Sporting Goods announced net sales of $3.89bn, a 0.5% rise from the corresponding quarter of the previous year.
The retailer’s net income edged up 1% to reach $300m in Q4 FY24, compared to $296m in the fourth quarter of fiscal 2023. Its earnings per diluted share (EPS) for the quarter stood at $3.62, up from $3.57 in the previous year.
DICK’S board of directors has approved a 10% hike in its quarterly dividend and initiated a new five-year stock repurchase programme that could see up to $3bn in shares bought back.
Over the fiscal year, the company expanded its physical presence by opening seven House of Sport outlets and 15 DICK’S Field House locations.
For fiscal 2025, it has set its net sales forecast between $13.6bn and $13.9bn, with expected comparable sales ranging from 1% to 3%.
The EPS for the upcoming fiscal year is projected to be between $13.80 and $14.40.
The company plans to inaugurate 16 more House of Sport stores and around 18 additional DICK’S Field House sites during the year.
