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Sales results mixed for Dick’s Q4
Dick’s Sporting Goods fell three cents short of analysts’ profit forecast in the fourth quarter thanks to a 1.2% same store sales increase partially caused by unseasonably warm weather and soft sales of big ticket items.
Sales for the 14 week period ended February 2, increased 12% to $1.8 billion compared to the 13 week period the prior year. The company’s consolidated same store sales increase of 1.2% was driven by a 54.2% increase in online sales, offset by a 2.2% decrease at Dick's Sporting Goods stores and a 1.3% increase at Golf Galaxy stores.