Dick’s Q3 net sales up 6.7 percent

REPORT_ Dick’s net sales for the third quarter of 2013 increased 6.7 percent. Consolidated

same store sales increased 3.3 percent. Shifted same store sales in the third quarter of 2013 for Dick’s Sporting Goods increased 3.4 percent while Golf Galaxy increased 2.2 percent. Unshifted consolidated same store sales for the third quarter increased 0.3 percent. Unshifted same store sales in the third quarter of 2013 for Dick’s Sporting Goods increased 0.6 percent while Golf Galaxy decreased 4.7 percent.

Inventory per square foot was 5.6 percent higher at the end of the third quarter of 2013 as compared to the end of the third quarter of 2012. The company expects to end fiscal 2013 with no outstanding borrowings under the revolving credit facility. Consolidated same store sales are currently expected to increase 3 percent to 4 percent in the fourth quarter of 2013.

Dick’s is based in Pittsburgh. As of November 2, 2013, the company operated 552 Dick’s Sporting Goods stores. “Despite the continued challenging consumer environment, we delivered better than expected results in the third quarter, ” said Edward W. Stack, Chairman and CEO. “The marketing efforts, improved customer experience and selective pricing initiatives we began in the third quarter were successful in driving traffic and sales, but at slightly lower than anticipated margins. We remain excited about the long-term opportunities in our business.”