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Dick's comparable store sales soar 2.7%
11 Mar '08
3 min read
"We are pleased to have delivered 4th quarter sales and earnings in excess of our guidance, culminating a year in which our business generated a 30% EPS increase. We also made two acquisitions, continued to capture market share in new and existing markets, expanded our merchandise margin, and improved our operating efficiency," said Edward W. Stack, Chairman and CEO.
New Stores:
In the fourth quarter, the Company opened four Golf Galaxy stores, one each in Baltimore, MD; Fairfax, VA; Phoenix, AZ and Washington DC. In addition, Golf Galaxy closed two stores, one each in Memphis, TN and Pittsburgh, PA.
As of February 2, 2008, the Company operated 340 Dick's Sporting Goods stores in 36 states, with approximately 19.0 million square feet, 79 Golf Galaxy stores in 29 states, with approximately 1.3 million square feet, and 15 Chick's Sporting Goods stores in California, with approximately 0.8 million square feet.
Full Year Results (52 weeks compared to 53 weeks last year):
Net income for the 52 weeks ended February 2, 2008 increased 38% to $155.0 million and earnings per diluted share increased 30% to $1.33, as compared to prior year 53 week net income of $112.6 million, or $1.02 per diluted share. The operating results of Golf Galaxy and Chick's have been included in the results from their respective acquisition dates.
Net sales for the 52 weeks increased 25% to $3,888.4 million as compared to the 53 weeks ended February 3, 2007, while comparable store sales at Dick's stores on a 52-week to 52-week basis increased 2.4%, compared to a 6.0% increase last year.
The increase in sales this year was also attributable to the opening of new stores and the inclusion of Golf Galaxy and Chick's in this year's results. Comparable store sales for Golf Galaxy on a proforma basis were flat for the year.
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New Stores:
In the fourth quarter, the Company opened four Golf Galaxy stores, one each in Baltimore, MD; Fairfax, VA; Phoenix, AZ and Washington DC. In addition, Golf Galaxy closed two stores, one each in Memphis, TN and Pittsburgh, PA.
As of February 2, 2008, the Company operated 340 Dick's Sporting Goods stores in 36 states, with approximately 19.0 million square feet, 79 Golf Galaxy stores in 29 states, with approximately 1.3 million square feet, and 15 Chick's Sporting Goods stores in California, with approximately 0.8 million square feet.
Full Year Results (52 weeks compared to 53 weeks last year):
Net income for the 52 weeks ended February 2, 2008 increased 38% to $155.0 million and earnings per diluted share increased 30% to $1.33, as compared to prior year 53 week net income of $112.6 million, or $1.02 per diluted share. The operating results of Golf Galaxy and Chick's have been included in the results from their respective acquisition dates.
Net sales for the 52 weeks increased 25% to $3,888.4 million as compared to the 53 weeks ended February 3, 2007, while comparable store sales at Dick's stores on a 52-week to 52-week basis increased 2.4%, compared to a 6.0% increase last year.
The increase in sales this year was also attributable to the opening of new stores and the inclusion of Golf Galaxy and Chick's in this year's results. Comparable store sales for Golf Galaxy on a proforma basis were flat for the year.
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Dick's Sporting Goods Inc
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