DICK’S Reports 12% Q4 Income Boost, Shares Expansion Plans

DICK’S Sporting Goods closed out Q4 2014 with a net income of $155.5 million, a year-over-year increase of 12%. The Q4 financial results totaled approximately $1.30 per diluted share, beating DICK’S initial expectations of up to $1.28 per diluted share.

Net income for the entire fiscal year also increased by 2% over 2013, reaching a total of $344.2 million. Net sales climbed to $6.8 billion, a 10% boost from $6.2 billion.

Due to its positive growth results, the sporting goods retailer plans to open 54 new stores during the 2015 fiscal year, including 45 stores under the DICK’S brand and nine locations under the Field & Stream name.

“The 17% increase in earnings per diluted share was driven by the continued growth of our omnichannel network, our powerful marketing and merchandising strategies and the execution of these strategies by our store associates,” said Edward W. Stack, Chairman and CEO of DICK’S Sporting Goods. “The strong performance validates the merchandising and space allocation strategies that we put into place during this past year. Our team also successfully navigated a heavily promotional environment while exceeding our top line and bottom line targets, and our inventory is well-positioned as we head into 2015.”

E-Commerce also is becoming a more important sales channel for DICK’S Sporting Goods. Online sales accounted for 14.4% of the retailer’s total revenue in Q4 2014, compared to 12.2% during Q4 2013.