Dick's Sporting Goods, Inc. posted a 5.2 percent comp store sales increase for the 2024 fiscal year, cycling against a 2.6 percent comp sales gain in the 2023 fiscal year. Fourth quarter comps came in at a healthy 6.4 percent growth level for the biggest quarter in the retailer's history, cycling against 2.9 percent comp sales growth in the prior-year Q4 period. DKS said the full-year comp gain was driven by growth in average ticket and transactions.
Fourth Quarter Summary
Total sales for the fourth quarter amounted to $3.89 billion in the 13-week period ended February 1, compared to $3.88 billion in the 14-week period ended February 3, 2024. The company had fourth quarter earnings of $3.62 per diluted share, versus $3.57 per share in Q4 2023 and non-GAAP earnings of $3.85 in 2023 per diluted share ; 2023 results included approximately 19 cents for the 14th week.
Full Year Summary
Total sales for the 52-week fiscal 2024 year came in at $13.4 billion, compared to $13.0 billion in the 53-week fiscal 2023 full-year period. DKS delivered full year 2024 earnings per diluted share of $14.05, up 15 percent versus $12.18 in 2023 and up 9 percent versus non-GAAP earnings per diluted share of $12.91 in 2023; 2023 results included approximately 19 cents for the 53rd week.
Store Count and Square Footage
DKS opened seven House of Sport locations and 15 Dick's Field House locations during 2024 and plans to open approximately 16 additional House of Sport locations and approximately 18 additional Dick's Field House locations in 2025.
Full Year 2025 Outlook
Dick's Sporting Goods expects full-year comparable sales growth in the range of 1.0 percent to 3.0 percent and earnings per diluted share to be in the range of $13.80 to $14.40 for full year fiscal 2025.
"For 2025, our outlook reflects strong confidence in our strategies and operational strength while acknowledging the dynamic macroeconomic environment," offered Lauren Hobart, president and CEO, Dick's Sporting Goods, Inc. "With this in mind, we expect to drive continued comp growth, strategic expansion of our square footage, and improved gross margin. Leaning into our strategic pillars, we are investing in three exciting growth areas, each with significant potential: repositioning our real estate and store portfolio, driving continued strong growth in footwear, and accelerating our eCommerce business. With a clear strategy, a disciplined approach, and a commitment to innovation, we are well-positioned to drive sustained sales and profitability growth over the long-term and seize the significant market share opportunity ahead of us."
The DKS Board of Directors authorizes a 10 percent increase in quarterly dividend and new five-year share repurchase program of up to $3 billion.