Dick's Sporting Goods Q4 Profit Rises - Quick Facts

(RTTNews) - Sporting goods retailer Dick's Sporting Goods, Inc. (DKS) reported that net income for the 13 weeks ended February 1, 2014 was $138.6 million or $1.11 per share, compared to net income of $129.7 million, or $1.03 per share in the 14 weeks ended February 2, 2013. Analysts polled by Thomson Reuters expected the company to report earnings of $1.11 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the 13 weeks ended February 1, 2014 increased 7.9% to $1.9 billion compared to the 14 weeks ended February 2, 2013, or 12.5% on a 13-week to 13-week basis. Twenty three analysts estimated revenues of $1.94 billion for the quarter. Adjusted for the shifted calendar, due to the 53rd week in 2012, consolidated same store sales increased 7.3%.

Fourth quarter 2012 consolidated same store sales increased 1.2%. Shifted same store sales in the fourth quarter of 2013 for DICK'S Sporting Goods increased 7.9% while Golf Galaxy decreased11.7%.

Unshifted consolidated same store sales for the fourth quarter increased 6.3%, compared to the Company's guidance of an approximate 2 to 3% increase. Unshifted same store sales in the fourth quarter of 2013 for DICK'S Sporting Goods increased 6.8% while Golf Galaxy decreased 9.4%. eCommerce penetration for the quarter was 12.2% of total sales.

The company currently anticipates reporting consolidated earnings per share of approximately $0.51 to $0.53 in the first quarter of 2014, compared to non-GAAP consolidated earnings per diluted share of $0.48 in the first quarter of 2013 excluding the partial recovery of a previously impaired asset. Analysts project first-quarter earnings of $0.54 per share.

Consolidated same store sales are currently expected to increase 3 to 4% in the first quarter of 2014, compared to a 3.8% decrease in the first quarter of 2013, adjusted for the shifted retail calendar due to the 53rd week in 2012.

The company anticipates reporting consolidated earnings per share of approximately $3.03 to $3.08. Analysts project annual earnings per share of $3.11. Consolidated same store sales are currently expected to increase approximately 3 to 4%, compared to a 1.9% increase in fiscal 2013.