US: Dick's Sporting Goods Q4 earnings top expectations
- Q4 earnings grow 6.9%
- Net sales up 7.9%
US retailer Dick's Sporting Goods has revealed an increase in earnings and sales in its fourth-quarter, which the company said topped expectations.
In the three months ended 2 February, consolidation net income amounted to US$138.6m, or $1.11 per diluted share, a 6.9% increase on earnings of $129.7m in the year ago period. This beat company guidance of $1.04 to 1.07 per diluted share.
Net sales increased 7.9% to $1.9bn. Consolidated same store sales were up 7.3%, which topped previous guidance of a 3 to 4% increase.
CEO Edward Stack offered an optimistic outlook for the year ahead: "As we look to 2014, we believe our robust and growing omni-channel network and exciting merchandising opportunities will support double-digit growth in earnings."
For fiscal 2014, the company is forecasting consolidated earnings per diluted share of around $3.03 to $3.08. Consolidated same store sales are expected to increase around 3% to 4%.
US retailer Dick's Sporting Goods has recorded earnings in its first-quarter that came in below its expectations due to weakness in its golf and hunting divisions....
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