Dick's Sporting Goods yesterday said that Q1 of its fiscal year is "off to a slow start in part because of the freezing temperatures and snow that have disrupted shopping patterns across many states," according to Teresa Lindeman of the PITTSBURGH POST-GAZETTE. Additionally, West Coast port labor issues "tied up some of the retailer’s merchandise." However, in the three months that ended Jan. 31, the company "reported a profit" of $155.5M, compared to 138.6M "during the same quarter a year ago." Net sales rose 10.9% to $2.2B, although officials said that the sector "saw a lot of promotions and coupons over the holiday period." Golf Galaxy reported "same-store sales down" 7.1%, compared to a 3.8% increase at the Dick’s stores. For the full fiscal year, Dick’s "reported a profit" of $344.2M compared to $337.6M a year earlier. The company said that "net income in the most recent fiscal year" was $347.8M. Net sales for the full year rose 9.7% to $6.8B, driven by a 2.4% "gain in same-store sales and the opening of new stores." Lindeman noted as of Jan. 31, the company had "more than 600 Dick’s stores across the country." In '15, Dick's "expects to open about 45 Dick’s stores and relocate nine others" (POST-GAZETTE.com, 3/3).
GIRL POWER: In Pittsburgh, Chris Fleisher noted women's fitness apparel is "playing an increasingly central role in boosting Dick's bottom line." The company reported women's apparel contributed a 12% "boost in profits" for Q4. Dick's is "preparing to debut a line of women's fitness apparel" with country music singer Carrie Underwood tomorrow. The line, called Calia by Carrie Underwood, "includes tank tops, leggings and other 'athleisure' clothing that can be worn while exercising or around town." Dick's CEO Ed Stack said that women's apparel "outpaced other categories and would continue to be a focus for the company." He added that the Calia line will "take shelf space away" from adidas and Reebok products (TRIBLIVE.com, 3/3). At presstime, shares of Dick's were trading at $56.14, up 0.3% from the close of business yesterday (THE DAILY).
