Dick’s Earnings For Q4, FY ’06 Beat Analysts’ Expectations

Dick’s Sporting Goods reported “strong [Q4] earnings that beat analysts’ expectations and netted a 25[%] profit increase,” according to Teresa Lindeman of the PITTSBURGH POST-GAZETTE. Sales at Dick’s stores totaled $1.03B, the first time sales exceeded $1B in a quarter. Net income for Q4 was $67.7M, or $1.20 per share, up from $54M, or $1.00 per share, in the year-ago period. Sales at established stores rose 2%. For FY ’06, net income was $112.6M, up from $73M the previous year. Earnings per share of $2.03 beat analysts’ estimates of $1.97. Dick’s Chair & CEO Edward Stack noted the company’s stores in Chicago and Indianapolis benefited from the Bears’ and Colts’ appearances in Super Bowl XLI, which took place one day after the fiscal year ended. Aside from looking to “expand its snowboarding selection,” Dick’s is planning to open 45 stores this year, including one in Portland, Oregon, and 17 Golf Galaxy locations. Also, Under Armour “expects to open stores within Dick’s stores this year” (POST-GAZETTE, 3/14). At presstime, shares of Dick’s were trading at $53.91, down 0.97% from yesterday’s close of $54.44 (THE DAILY).