The diluted earnings per share (EPS) is expected between $13.80 and $14.40, based on approximately 82 million diluted shares outstanding and an effective tax rate of around 24 per cent.
Dick’s Sporting Goods has projected net sales of $13.6–$13.9 billion for FY25 with EPS of $13.80–$14.40 and a 1–3 per cent comparable sales increase.
In FY24, net sales grew 3.5 per cent YoY to $13.44 billion, with net income rising 11 per cent to $1.165 billion.
The company ended FY24 with 856 stores, expanding key formats.
Q4 sales hit $3.9 billion, marking its largest sales quarter ever.
“For 2025, our outlook reflects strong confidence in our strategies and operational strength while acknowledging the dynamic macroeconomic environment. With this in mind, we expect to drive continued comp growth, strategic expansion of our square footage, and improved gross margin,” said Lauren Hobart, president and chief executive officer (CEO) at Dick’s.
“Leaning into our strategic pillars, we are investing in three exciting growth areas, each with significant potential: repositioning our real estate and store portfolio, driving continued strong growth in footwear, and accelerating our e-commerce business. With a clear strategy, a disciplined approach, and a commitment to innovation, we are well-positioned to drive sustained sales and profitability growth over the long-term and seize the significant market share opportunity ahead of us,” added Hobart.
“The convergence of sport and culture in our country has never been stronger, and with a series of major sporting events set to take place in the US, this momentum is only expected to grow through 2030 and beyond,” said Ed Stack, executive chairman at Dick’s.
Fiscal 2024 (FY24) financial performance
Meanwhile, the company has reported net sales of $13.44 billion in FY24 ended February 1, 2025, reflecting an increase of 3.5 per cent year-over-year (YoY). The comparable sales grew 5.2 per cent YoY, up from 2.6 per cent in last fiscal.
The income before income taxes rose to 11.3 per cent of net sales, an improvement of 115 basis points (bps), while the non-GAAP income before income taxes increased 49 bps to 11.3 per cent. The effective tax rate rose to 23.3 per cent from 20.6 per cent, up 268 bps, Dick’s Sporting Goods said in a press release.
The net income of the company grew 11 per cent to $1.165 billion, compared to $1.047 billion in 2024, while non-GAAP net income increased 5 per cent to $1.165 billion. EPS rose 15 per cent to $14.05, while non-GAAP EPS increased 9 per cent to $14.05.
The company ended FY24 with 723 stores, after closing six locations and relocating/converting 17, while adding five new stores. Dick’s Field House expanded from 11 to 26 locations, adding four new stores and converting 11, increasing square footage from 0.6 million to 1.5 million.
Dick’s House of Sport grew from 12 to 19 locations, adding one new store and converting six, increasing square footage from 1.2 million to 2.2 million. The total Dick’s Sporting Goods store count remained stable at 723, with square footage increasing from 39.3 million to 40.1 million.
By the end of FY24, the total store count increased from 855 to 856, with square footage growing from 42.7 million to 43.6 million.
Fourth quarter (Q4) financial
Dick’s reported net sales of $3.9 billion in the fourth quarter (Q4) of FY24. The cost of goods sold, including occupancy and distribution costs, totalled $2.5 billion, resulting in a gross profit of $1.4 billion.
Selling, general, and administrative (SG&A) expenses amounted to $963.6 million, while pre-opening expenses were $10.7 million. Income from operations stood at $387.0 million. Earnings per common share were $3.73 (basic) and $3.62 (diluted).
“Our fourth quarter (Q4) was an exceptionally strong finish to another great year. With a 6.4 per cent Q4 comp we delivered the largest sales quarter in company history. For the full year, our comps increased 5.2 per cent, we drove meaningful EBT margin expansion, and we gained significant market share. I would like to thank all our teammates for their hard work and unwavering dedication to our business—at Dick’s, it is our people who make us great, and this strong performance is a direct result of their efforts,” said Hobart.
Fibre2Fashion News Desk (SG)
