Investing.com -- Dick's Sporting Goods reported better-than-expected fourth-quarter results on Monday, but its shares fell 6.9% in early trading.
The sporting goods retailer posted earnings per share of $3.62 for the quarter ended February 1, beating analyst estimates of $3.48. Revenue came in at $3.89 billion, surpassing the consensus forecast of $3.76 billion and marking the largest sales quarter in company history.
Comparable store sales grew 6.4% YoY, driven by increases in both average ticket size and transaction volume. For the full fiscal year 2024, Dick's reported a 5.2% rise in comparable sales and earnings per diluted share of $14.05, up 15% from the previous year.
Looking ahead, Dick's expects FY2025 earnings per share between $13.80 and $14.40 on revenue of $13.6 billion to $13.9 billion.
"For 2025, our outlook reflects strong confidence in our strategies and operational strength while acknowledging the dynamic macroeconomic environment," said Lauren Hobart, President and CEO of Dick's Sporting Goods (NYSE:DKS).
The company plans to open approximately 16 additional House of Sport locations and 18 Dick's Field House locations in 2025 as part of its strategy to reposition its store portfolio. Additionally, the board of directors authorized a 10% increase in quarterly dividend and a new five-year share repurchase program of up to $3 billion.
This content was originally published on Investing.com
