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 30th May 2016

Uttarakhand to launch new textile parks

The Uttarakhand government is setting up three textile parks in the...

Apparel/Garments | On 30th May 2016

Youngone Corp to invest in Ethiopia’s textile sector

Youngone Corporation, a South Korea based textile and footwear...

Courtesy: Lakshmi Machine Works

Textiles | On 30th May 2016

LMW’s net sales up 5.41% in Q4 ended March 31

Lakshmi Machine Works (LMW) posted a rise of 5.41 per cent in net...

Interviews View All

Amrit Sethia
SOIE

What are the emerging trends in the intimatewear category for women in...

Smita Murarka
Amanté

Which fabrics will be in trend for lingerie in 2017? What aspects are...

Rahuul Jashnani
Jashn

What is the size of the ethnicwear vertical in India? How are Indian...

Paolo Ocleppo
Sandvik Hyperion

<b><i>Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion...

Eamonn Tighe
Nature Works LLC

<b><i>Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of ...

Kerem Durdag
Biovation II LLC

<b><i>Kerem Durdag, CEO, Biovation II LLC, provides an insight into future ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
May 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search