Dick’s Sporting Goods Q4 profit, sales top estimates; opening 54 stores in 2015

Pittsburgh – Strong omnichannel performance, as well as successful marketing and merchandising execution, helped Dick’s Sporting Goods Inc. deliver fourth quarter fiscal 2014 net income beyond previously issued guidance. Dick’s reported net income of $155.5 million, up 12% from $138.6 million a year earlier.



Dick’s plans to open 54 new stores during fiscal 2015, including 45 namesake stores and nine Field & Stream stores.



Net sales increased 11% to $2.16 billion, from $1.95 billion. Consolidated same-store sales increased 3.4%, compared to the company's guidance of an approximate 1 to 3% increase. E-commerce penetration for fourth quarter 2014 was 14.4% of total sales, compared to 12.2% during fourth quarter 2013



“The strong performance validates the merchandising and space allocation strategies that we put into place during this past year,” said Edward W. Stack, chairman and CEO. “Our team also successfully navigated a heavily promotional environment while exceeding our top line and bottom line targets, and our inventory is well-positioned as we head into 2015."



For the full fiscal year, Dick’s reported net income of $344.2 million, up 2% from $337.6 million the prior fiscal year. Net sales rose 10% to $6.8 billion, from $6.2 billion. Same-store sales climbed 2.4%.