PITTSBURGH (BRAIN) — Net sales at Dick's Sporting Goods increased 4.7% for the fourth quarter, compared to the same time last year, and 3.7% for 2019.
Fourth-quarter net sales were $2.61 billion for the period ending Feb. 1. For 2019, net sales were $8.8 billion, compared to $8.4 billion for 2018.
Dick's reported consolidated net income for the fourth quarter of $102.6 million, or $1.07 per diluted share. On a non-GAAP basis, it reported consolidated net income for the fourth quarter of $113.3 million, or $1.32 per diluted share.
For the year, Dick's reported non-GAAP consolidated net income of $329.1 million, or $3.69 per diluted share.
"We are very pleased with our strong fourth-quarter results," said Edward W. Stack, chairman and CEO. "Despite the compressed holiday selling season and the challenging conditions we faced with unseasonably warm weather, we delivered a 5.3% comp sales increase, supported by increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear."
The company said its outlook for 2020 has concerns over supply chain disruptions because of the COVID-19 virus. Based on an estimated 85.5 million diluted shares outstanding, Dick's estimates earnings per diluted share to be approximately $3.60 to $4. The low end of the outlook includes the concern over the virus impacting second-quarter results. The earnings per diluted share guidance only includes the expectation of share repurchases to fully offset dilution in 2020.
Nine Dick's Sporting Goods and six Golf Galaxy stores are expected to open in 2020.
Dick's Sporting Goods stock is traded on the New York Stock Exchange under the DKS symbol. DKS stock quote at Marketwatch.com.
