DICK'S Sporting Goods Achieves Record Sales in Fourth Quarter 2024

Record Sales at DICK'S Sporting Goods for Q4 2024

DICK'S Sporting Goods, Inc. (NYSE: DKS) has released its financial results for the fourth quarter and full year 2024, showcasing impressive growth that sets a new benchmark in the company's history. Reports indicate that the company achieved a remarkable 6.4% increase in comparable sales for the fourth quarter, marking the highest sales ever recorded in a single quarter by the retailer. Not only does this achievement underscore the company's robust performance, but it also provides a positive outlook for the future.

For the full year ending February 1, 2025, DICK'S Sporting Goods exhibited a 5.2% increase in comparable sales, driven primarily by a rise in both average transaction value and the number of transactions. The earnings per diluted share for 2024 reached $14.05, reflecting a significant increase of 15% compared to the previous year’s $12.18. This growth is especially notable, considering the 2023 results included an adjustment due to an extra week of operations.

The company's board of directors has responded to this success by authorizing a 10% increase in quarterly dividends and approving a new five-year share repurchase program of up to $3 billion. This strategic move reflects their confidence in the company’s continued growth potential, especially as the sporting landscape in the U.S. is poised for exciting developments ahead.

In line with their growth strategy, DICK'S Sporting Goods opened seven new House of Sport locations and 15 DICK'S Field House locations throughout 2024. Anticipating further expansion, the company plans to add approximately 16 more House of Sport locations and 18 additional DICK'S Field House locations in 2025. Chairman Ed Stack emphasizes that the U.S. sports and culture intersection has never been stronger, and the company is well-equipped to capitalize on this trend.

“Our fourth quarter was an exceptionally strong finish to another great year. With a 6.4% Q4 comp, we delivered the largest sales quarter in company history,” stated Lauren Hobart, President and CEO of DICK'S Sporting Goods. This commitment to growth and market share expansion is coupled with investments in real estate, in-store experiences, and digital enhancements to attract a broader customer base.

Looking ahead to 2025, DICK'S Sporting Goods forecasts continued comparable sales growth between 1.0% and 3.0%, alongside earnings per diluted share expected to range from $13.80 to $14.40. The company’s balanced approach to investment indicates a strong confidence in its ability to navigate the dynamic economic landscape, positioning itself strategically for sustained profitability and market leadership.

As the largest U.S. based full-line omni-channel sporting goods retailer, DICK'S Sporting Goods is committed to fostering community engagement through initiatives supporting youth sports. Its foundation has contributed millions to support under-resourced teams and athlete development programs, reinforcing the company’s dedication to making sports accessible to all. With its strategic focus on innovation and customer experience, DICK'S is set to continue its leadership role in the sporting goods industry for years to come.

In conclusion, DICK'S Sporting Goods stands as a prime example of resilience and growth within retail, attributing its success not only to solid sales and earnings but also to a commitment to serving athletes and promoting sports culture across the nation. The future looks bright as they continue to expand their footprint and embrace emerging trends in sports and retail.