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Dick’s Had Record Holiday Season but Lowers Projections for 2025

时间：2025-03-13 00:27:42 source：Le fabricant suédois de batteries Northvolt se déclare en faillite – Libération_Diesel CHAIN BRACELET Bracelet gold coloured

Dick’s Had Record Holiday Season but Lowers Projections for 2025

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Dick’s Sporting Goods posted the best holiday season in its history, but in light of the “dynamic macroeconomic environment,” lowered its projections for this year. On Tuesday morning, the Pittsburgh-based sporting goods retailer reported a 6.4 percent gain in comparable-store stores in the fourth quarter, exceeding analyst expectations of below 3 percent, and net income of $300 million, up 1 percent from the $296 million in the same period last year. Total sales in the period ended Feb. 28 were $3.89 billion. However, looking ahead to this fiscal year, Dick’s is projecting full-year comparable sales growth to be in the range of 1 percent to 3 percent and earnings per diluted share to be in the range of $13.80 to 14.40. Analyst estimates are for comp-store sales of 2.5 percent and earnings per share of $14.86, according to CNBC. As a result, the company’s stock was trading around 6 percent lower at the opening of the market. Related Articles Financial Zendaya and Elmo Help On Holding Exceed Projections in Q4, Year Beauty Features Oddity Surpasses Expectations for Q4 Earnings, Il Makiage Hits $500 Million Milestone For the year, comparable-store sales rose 5.2 percent, driven by growth in average ticket sales and transactions, the company said, and total sales were up 3.5 percent to $13.4 billion from around $13 billion last year. Earnings per diluted share were $14.05, up 15 percent from the $12.18 reported in fiscal year 2023 and net income rose 11 percent to $1.2 billion from $1 billion the prior year. As a result of the strong showing, the company said it plans to open about 16 additional House of Sport locations and 18 Dick’s Field House locations in 2025. Last year, the retailer opened seven House of Sport locations, bringing the total to 19, and 15 Field House stores. That smaller-size concept now has 26 locations around the country. The goal is to have 75 to 100 House of Sport units by 2027, the company said on its earnings call Tuesday morning. The company also said 70 percent of the new locations will be reimagined or relocations of existing units. In addition, 14 Golf Galaxy Performance Center locations are also expected to open this year. “The convergence of sport and culture in our country has never been stronger, and with a series of major sporting events set to take place in the U.S., this momentum is only expected to grow through 2030 and beyond,” said executive chairman Ed Stack. “As a company rooted in sport, Dick’s is uniquely positioned to seize this opportunity, and we are making strategic investments in real estate, in-store enhancements and digital experiences to further expand our market share.” Lauren Hobart, president and chief executive officer, added: “For 2025, our outlook reflects strong confidence in our strategies and operational strength while acknowledging the dynamic microeconomic environment. 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 e-commerce 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.” In a call with analysts Tuesday morning, Hobart said the company is the largest omnichannel sports retailer in the U.S. with a market share of just under 9 percent of the $140 billion sports industry. She said with the “excitement around women’s sports,” the upcoming FIFA World Cup, L.A. Olympics and Rugby World Cup, all of which will be on U.S. soil, “the convergence of sports and culture has never been stronger. We’re a nation obsessed with sport and no one is better positioned to harness this opportunity than Dick’s Sporting Goods.” Turning to categories, Hobart said “footwear is the engine that pulls the train,” and premium assortments are now available in about 90 percent of all stores. Footwear now represents 28 percent of total sales. E-commerce is also seen as a growth engine, she said, adding that the company will invest aggressively in technology and marketing as well as a focus on the Dick’s app to continue to drive sales through this channel. She also cited the “long-term growth opportunities” of the company’s GameChanger and Dick’s Media Network. GameChanger is a livestream sports app for youth sports that Dick’s bought in 2016. It exceeded $100 million in revenue in 2024 and projections are for it to hit $150 million this year. While the company’s projections did not meet expectations, Neil Saunders, managing director of GlobalData, wasn’t too concerned. He said Dick’s “was a magnet over the holiday period and did exceptionally well across gifting and self-purchase categories. Sporting goods were a solid gifting category this year, but consumers also came to Dick’s in larger numbers for everyday apparel and footwear. This is part of a trend that has been in play for a while, which is enabling Dick’s to take share from mainstream apparel retailers, but it seemed to accelerate over the holiday quarter.” He said that a decade ago, consumers would visit Dick’s strictly for sports-related merchandise but its recent focus on apparel and a wider brand assortment has helped draw more customers, particularly to its experiential House of Sport concept as well as its smaller, refurbished Field House stores. “It is also helping to future-proof Dick’s at a time when some other retailers are failing to invest in their physical real estate,” he wrote. “And this is one of the reasons why Dick’s is pulling customers away from more traditional channels like department stores and from mass merchants such as Target. This dynamic will become increasingly important in a market where organic spending growth is slimmer.” And while the company is projecting a slowdown in growth, “Dick’s will be adding to a very successful run and will be doing so in a somewhat slower trading environment. That is far from a terrible outcome,” he believes. “Indeed, it underlines the fact that Dick’s continues to win market share. In our view, it will remain a winner.”

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