1.55%The Pittsburgh based sporting goods store, Dick’s Sporting Goods, has reported its latest financials for Q4 2024 posting its best holiday season to date.
Comparable store sales for the quarter were up 6.4% which exceeded analyst expectations of below 3%. Net income for the quarter was up 1% to $300 million compared to the $296 million from the same period last year. Comparable store sales for the total year were also up by 5.2% which was driven by higher average order values. Total sales for the full fiscal year were up by 3.5% to $13.4 billion, up from £13 billion in 2023. Earnings per diluted share were $14.05, up 15% from the $12.18 from last year and net income rose 11% to $1.2 billion from $1 billion the previous year. Looking forward to the current fiscal year Dick’s now expects its full year comparable sales growth to be around 1%-3% & earnings per diluted share to be in the range of $13.80 to $14.40. Shares in Dick’s (DKS) were down around 5% yesterday as investors had projected comparable store sales of 2.5% and earnings per share of $14.86, although CNBC’s Jim Cramer has quoted Dick’s as a stock to watch for 2025 due to its latest Q4 results.
The sporting goods store now expects to open an additional 16 House of Sport store’s across the US over the next 12 months and remain the largest omnichannel sports retailer in the US with its 9% market share of the $140 billion sports industry. With the forthcoming World Cup & Los Angeles Olympics also coming to the states in 2026, Dick’s expects further growth as it champions women’s sports and the US’s strong sporting history. Over the next 12 months Dick’s has also said it will “invest aggressively” in technology & marketing, building on their E-commerce channels & app.
Founded back in 1948 by Richard “Dick” Stack in Binghamton, New York as a fishing tackle store Dick’s Sporting Goods has grown to become one of the biggest sporting goods retailers in the USA. Boasting 700 plus stores across the USA, Dick’s have a long history across the East Coast with previous collaborations with Nike & Philadelphia Eagles wide receiver, DeVonta Smith, as well as working with local sports initiatives such as the Boston Athletics Association. Also don’t forget to subscribe to Sneaker Jobs & follow @sneaker_jobs to keep up to date with all the latest industry news.
For 2025, our outlook reflects strong confidence in our strategies and operational strength while acknowledging the dynamic microeconomic environment. With this in mind, we expect to drive continued comp growth, strategic expansion of our square footage and improved gross margin. 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.
Lauren Hobart – President & CEO Dick’s
