Dick's Sporting Goods same store sales rise 7 percent

REPORT_ Dick’s Sporting Goods has announced that its fourth

quarter 2013 consolidated same store sales exceeded expectations. As a result, the company increased its fourth quarter and full year 2013 expectations. The company also provided preliminary earnings guidance for fiscal 2014. Consolidated same store sales, adjusted for the shifted calendar, due to the 53rd week in fiscal 2012, increased approximately 7 percent, or approximately 6 percent on an un-shifted basis, in the fourth quarter of 2013.

The company based in Pittsburgh, now expects consolidated earnings per diluted share of approximately 1.10 dollars to 1.11 dollars for the fourth quarter of 2013, compared to guidance of 1.04 dollars to 1.07 dollars provided on November 19, 2013. For the fourth quarter of 2012, consolidated earnings per diluted share were 1.03 dollars.

The same store sales results compare to guidance provided on November 19, 2013 for a 3 to 4 percent increase, or a 2 to 3 percent increase on an unshifted basis. Consolidated same store sales increased 1.2 percent in the fourth quarter of 2012. The fourth quarter earnings guidance includes approximately 0.01 dollars per diluted share benefit attributable to share repurchases in the fourth quarter of 2013 totaling 150 million dollars.

“Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A,” said Edward W. Stack, Chairman and Chief Executive Officer, adding, “We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth.”

The company now expects consolidated non-GAAP earnings per diluted share of approximately 2.68 dollars to 2.69 dollars for the fiscal year ended February 1, 2014, compared to guidance of 2.62 dollars to 2.65 dollars provided on November 19, 2013. For the 53-weeks ended February 2, 2013, the company reported consolidated non-GAAP earnings per diluted share of 2.53 dollars, excluding an impairment charge. Consolidated same store sales on a 52-week to 52-week comparative basis increased approximately 1.9 percent, compared to guidance of approximately flat to an increase of 1 percent provided on November 19, 2013, and to a 4.3 percent increase in fiscal 2012.

Based on an estimated 124 million diluted shares outstanding, the company currently anticipates reporting consolidated earnings per diluted share of approximately 3.03 dollars to 3.08 dollars for fiscal 2014.