Home / Knowledge / News / Apparel/Garments / Dick's Sporting Q4'13 same store sales climb nearly 7%
Dick's Sporting Q4'13 same store sales climb nearly 7%
11
Feb '14
DICK'S Sporting Goods, Inc. the largest U.S. based full-line omni-channel sporting goods retailer, announced that fourth quarter 2013 consolidated same store sales exceeded expectations. As a result, the Company increased its fourth quarter and full year 2013 expectations. The Company also provided preliminary earnings guidance for fiscal 2014.
 
Higlights: 
-Fourth quarter 2013 shifted consolidated same store sales increased approximately 7%, compared to guidance of a 3 to 4% increase
-Fourth quarter 2013 consolidated earnings per diluted share now expected to be approximately $1.10 to 1.11 compared to previous guidance of $1.04 to 1.07
-Full year 2014 consolidated earnings per diluted share expected to be approximately $3.03 to 3.08
 
Fourth Quarter 2013 Results
The Company now expects consolidated earnings per diluted share of approximately $1.10 to 1.11 for the fourth quarter of 2013, compared to guidance of $1.04 to 1.07 provided on November 19, 2013. For the fourth quarter of 2012, consolidated earnings per diluted share were $1.03. The 14th week in the fourth quarter of fiscal 2012 contributed approximately $0.03 to earnings per diluted share.
 
Consolidated same store sales, adjusted for the shifted calendar, due to the 53rd week in fiscal 2012, increased approximately 7%, or approximately 6% on an unshifted basis, in the fourth quarter of 2013. The same store sales results compare to guidance provided on November 19, 2013 for a 3 to 4% increase, or a 2 to 3% increase on an unshifted basis. Consolidated same store sales increased 1.2% in the fourth quarter of 2012.
 
The improved outlook is due to better than anticipated fourth quarter same store sales and merchandise margin, partially offset by higher incentive compensation. The fourth quarter earnings guidance includes approximately $0.01 per diluted share benefit attributable to share repurchases in the fourth quarter of 2013 totaling $150 million.
 
"Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A," said Edward W. Stack, Chairman and Chief Executive Officer.
 
"We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth."
 
Full Year 2013 Results
The Company now expects consolidated non-GAAP earnings per diluted share of approximately $2.68 to 2.69 for the fiscal year ended February 1, 2014, compared to guidance of $2.62 to 2.65 provided on November 19, 2013.

Must ReadView All

Textiles | On 24th Sep 2016

GST Council sets exemption limit at Rs 20 lakh

The GST Council has decided to exempt businesses from the Goods and...

Apparel/Garments | On 24th Sep 2016

DGFT adds new service providers in EPCG scheme

Providing great relief to the job working units in garment clusters...

Apparel/Garments | On 24th Sep 2016

Niti Aayog kicks off Indian ecommerce policy review

A Niti Aayog committee set up for the purpose, held deliberations...

Interviews View All

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

Dinaz Madhukar
DLF Emporio and DLF Promenade

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
September 2016

September 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search