Dick's Sporting Goods smashes same-store sales expectations for holiday quarter

Dick's Sporting Goods connected Tuesday reported vacation 4th results that bushed Wall Street's expectations, citing a income boost from the gift-giving play adjacent with inflation-weary consumers.

Same-store income accrued 5.3% during the 4th quarter, much than double analysts' estimates of 2.1%, according to StreetAccount. That metric measures income online and successful stores unfastened for 14 months oregon more.

The sporting bully retailer's show has stayed resilient successful the look of an inflationary macroenvironment and industry-wide inventory struggles. It said Tuesday that adjacent amid shaky user request crossed the sector, its shoppers continued buying.

Dick's is going into its adjacent fiscal twelvemonth with continued confidence. It anticipates full-year net per stock betwixt of $12.90 and $13.80, up from $10.78 per stock for fiscal 2022. Analysts polled by Refinitiv had expected fiscal 2023 EPS of $12.

It expects same-store income maturation for the fiscal twelvemonth to beryllium level to up 2%.

Here's however the institution did successful the quarter ended Jan. 28 compared with what Wall Street was anticipating, based connected a survey of analysts by Refinitiv:

• Earnings per share: $2.93, adjusted, vs. $2.88 cents expected
• Revenue: $3.60 cardinal vs. $3.45 cardinal expected

The institution posted nett income of $236 million, astir 32% little than the $346 cardinal it reported a twelvemonth earlier.

Dick's has not been wholly immune to the industry-wide retail pains similar inventory headwinds. Supply concatenation disruptions led Dick's to banal up connected products to conscionable pandemic-era demand, lone for those products to beryllium retired of play by the clip they arrived.

But the institution feels assured it has resolved its proviso concatenation dilemma arsenic it heads into the 2023 fiscal year.

"As planned, we continued to code targeted inventory overages, and arsenic a effect our inventory is successful large signifier arsenic we commencement 2023," said CEO Lauren Hobart.

The institution volition big a league telephone astatine 10 a.m. ET connected Tuesday.

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