DICK's Sporting Goods, Inc. (DKS) reported impressive first-quarter results for 2024, with sales surpassing $3 billion, marking a 6.2% increase.
Adjusting for calendar shifts, comparable sales saw a 5.3% growth. The company has raised its full-year outlook, now expecting comparable sales growth of 2% to 3% and earnings per share (EPS) to range between $13.
35 and $13.75. Key strategies such as enhancing the omnichannel athlete experience and offering a differentiated product assortment have led to market share gains.
DICK's Sporting Goods also highlighted the successful growth of its Golf Galaxy Performance Centers and the GameChanger app, and expressed confidence in the company's long-term growth and profitability. Key Takeaways Q1 2024 sales increased by 6.2%, with over $3 billion in revenue.
Comparable sales rose by 5.3% after adjusting for calendar shifts. Full-year outlook raised; comp sales growth expected to be 2% to 3%, with EPS forecasted at $13.
35 to $13.75. Opened two House of Sport locations and two next-generation 50K stores in Q1; plans for more store openings throughout 2024.
Strong growth in Golf Galaxy Performance Centers and GameChanger app. Company remains committed to brand partnerships and providing a premier teammate experience. Company Outlook Full-year consolidated sales projected to be between $13.
1 billion and $13.2 billion. Anticipated EBT margin at 11.
1%, with a modest expansion in gross margin. Six additional House of Sport locations and 14 next-ge.
