Dick’s Sporting Goods posts record-breaking Q4 sales

U.S. retailer Dick’s Sporting Goods said total revenues reached $3.876 billion for the fourth quarter, ended February 3, 2024, up 7.8% compared to the same period last year. 

The Pittsburgh-based company said growth was driven by a notable 2.8% comparable store sales growth over the 13-week period.

Additionally, the company achieved significant milestones in its full year 2023 results, with a comparable store sales growth of 2.4%, attributed to a 1.6% increase in transactions. Dick’s reported full year earnings per diluted share of $12.18.

“With our industry-leading assortment and strong execution, we capped off the year with an incredibly strong fourth quarter and holiday season. Even excluding the extra week, this was the largest sales quarter in the history of the Company, and during the fourth quarter, we drove significant gross margin and EBT margin expansion,” said Lauren Hobart, president and chief executive officer. 

“We are guiding to another strong year in 2024. We plan to grow both our sales and earnings through positive comps, higher merchandise margin and productivity gains. With the continued success of our new store formats and our omnichannel experience, we will accelerate our investment in our growth strategies to drive our business forward and continue gaining market share in a fragmented $140-billion-dollar industry.”

Looking ahead to 2024, Dick’s anticipates continued growth, with expectations of full year comparable store sales growth in the range of 1.0% to 2.0%, and earnings per diluted share projected to be in the range of $12.85 to $13.25.