Dick’s Sporting Goods Q4 breaks sales records, cautious about 2025

Dick’s Sporting Goods had a strong fourth quarter.

Dick’s Sporting Goods reported its best sales quarter ever, but joined other retailers in offering a disappointing outlook for fiscal 2025, saying profits will not meet Wall Street expectations.

Despite the soft guidance, the nation’s largest sporting goods retailer plans a “significant investments” in stores and digital this year, CEO Lauren Hobart said on the company’s earnings call. On the brick and mortar front, plans include the opening of 16 House of Sport stores and 18 Field House locations this year. The majority of openings are relocations or reimaginings of existing stores.

Dick’s is also planning to enhance and expand its online presence with added speed and convenience.

Fourth Quarter

Dick’a posted net income of $300 million, or $3.62 a share, for the quarter ended Feb.1, up 1% from $296 million, or $3.57 a share, in the year-ago period. Earnings per share, beat analyst projections of $3.53.

Meanwhile, net sales rose 0.5% to $3.89 billion from $3.88 billion. Wall Street had been expecting net sales of $3.78 billion. Same-store sales rose 6.4%, more than double the 2.9% Dick’s reported in the fourth quarter of fiscal 2024.

“Our fourth quarter was an exceptionally strong finish to another great year,” said Hobart stated in the earnings release. “With a 6.4% fourth quarter comp we delivered the largest sales quarter in company history. For the full year, our comps increased 5.2%, we drove meaningful pre-tax profit margin expansion, and we gained significant market share.”

Dick’s is offering a mixed prediction for fiscal 2025 results. The company predicts earnings per share ranging between $13.80 to $14.40, compared to Wall Street estimates of $14.86 per share reported by the London Stock Exchange.

The retailer expects net sales for fiscal 2025 between $13.6 billion and $13.9 billion, while the London Stock Exchange reported Wall Street projections of $13.9 billion. Same-store sales growth estimates of 1-3% Dick’s expecting comparable sales to grow between 1% and 3% are in range of the 2.5% Wall Street forecast reported by StreetAccount.