The inventory per square foot was 4.0% higher at the end of the third quarter of 2012 as compared to the end of the third quarter of 2011.Year-to-Date Results
The Company reported consolidated non-GAAP net income for the 39 weeks ended October 27, 2012 of $188.6 million, or $1.50 per diluted share. For the 39 weeks ended October 29, 2011, the Company reported consolidated non-GAAP net income of $142.8 million, or $1.14 per diluted share.
Dick's Sporting Goods Inc., the largest U.S.-based full-line sporting goods retailer, reported sales and earnings results for the#
On a GAAP basis, the Company reported consolidated net income for the 39 weeks ended October 27, 2012 of $161.0 million, or $1.28 per diluted share. For the 39 weeks ended October 29, 2011, the Company reported consolidated net income of $152.8 million, or $1.22 per diluted share.
Net sales for the 39 weeks ended October 27, 2012 increased 12.0% from last year's period to $4.0 billion primarily due to a 5.6% increase in consolidated same store sales and the growth of the Company's store network.
Current 2012 Outlook
Full Year 2012 – (53 Week Year) Comparisons to Fiscal 2011 – (52 Week Year)
- Based on an estimated 126 million diluted shares outstanding, the Company currently anticipates reporting consolidated non-GAAP earnings per diluted share of approximately $2.53 to 2.55, excluding an impairment charge and including approximately $0.03 per diluted share for the 53rd week. On a 52-week basis, non-GAAP earnings per diluted share are expected to be $2.50 to 2.52. For the 52 weeks ended January 28, 2012, the Company reported consolidated non-GAAP earnings per diluted share of $2.02, excluding a gain on sale of investment and the favorable impact of lower litigation settlement costs. On a GAAP basis, the Company reported consolidated earnings per diluted share of $2.10 in 2011.
- Consolidated same store sales are currently expected to increase approximately 5% on a 52-week to 52-week comparative basis, compared to a 2.0% increase in fiscal 2011.
Fourth Quarter 2012 – (14 Week Quarter) Comparisons to Fourth Quarter 2011 – (13 Week Quarter)
- Based on an estimated 127 million diluted shares outstanding,the Company currently anticipates reporting consolidated earnings per diluted share of approximately $1.03 to 1.05 in the fourth quarter of 2012 compared to our prior expectation of $1.01 to 1.05. The fourth quarter guidance includes approximately $0.03 per diluted share for the 14th week. On a 13-week basis, earnings per diluted share are expected to be $1.00 to 1.02. In the fourth quarter of 2011, the Company reported consolidated earnings per diluted share of $0.88.
- Consolidated same store sales are currently expected to increase approximately 4% compared to a 0.1% increase in the fourth quarter last year.
Capital Expenditures
- In 2012, the Company anticipates capital expenditures to be approximately $235 million on a gross basis and approximately $190 million on a net basis.
Dick's Sporting Goods, Inc. is an authentic full-line sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel and footwear in a specialty store environment.
Dick's Sporting Goods Inc.