Dick’s Sporting Goods Raise 2024 Outlook Beating Q2 Expectations

The East Coast based sporting goods store, Dick’s Sporting Goods, has raised its full year earning forecast after stronger Q2 sales.

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. Yesterday the iconic ‘All American’ sports retailer announced their Q2 sales which beat expectations. Store revenues were up 7.8% to $3.47 billion, compared to the same quarter in 2023, slightly above the $3.44 billion that were expected by finance analysists. Share prices of Dick’s Sporting Goods (DKS) did however take a hit even though Q2 sales beat expectations. Dick’s raised its full year earnings forecast to $13 billion predicting earnings per share in the range of $13.55 to $13.90. Wall Street analysists forecasted a slightly higher earning per share of $13.80.

Our strong second quarter demonstrated the continued success of our long-term strategies and how Dick’s is truly differentiated within the industry. We are very enthusiastic about the significant growth opportunities ahead of us, including House of Sport and the repositioning of our portfolio. The future of our business is very bright, and I’d like to thank all our teammates for their strong execution in Q2 and for their dedication to Dick’s Sporting Goods.

Ed Stack, Executive Chairman Dick’s Sporting Goods