Dick's Sporting Goods reported better-than-expected fourth-quarter earnings early Thursday, registering its first two-quarter EPS advance in two years and raising its dividend by 10%. DKS shares surged Thursday.
The retail chain announced Q4 earnings grew 31% to $3.85 per share with sales totaling $3.88 billion, up 8% vs. Q4 2022. Same-store sales increased 0.7%, slightly below the 0.8% expectation. Ahead of earnings, Wall Street forecast Q4 EPS of $3.36 and $3.79 billion in revenue.
For the full-year, Dick's Sporting Goods earnings grew 7% to $12.91 with sales hitting $12.98 billion, up 5% compared to 2022.
Along with earnings Thursday, Dick's Sporting Goods announced a quarterly dividend of $1.10 per share on common stock and Class B shares. This dividend represents an increase of 10% over the company's previous quarterly per share amount and is equivalent to an annualized dividend of $4.40 per share.
The company also provided 2024 guidance, expecting comparable-store sales growth of 1%-2% with earnings between $12.85-13.25 per share. The retailer also predicts net sales of $13-$13.13 billion in 2024.
Dick's Sporting Goods Stock: Retailers Make Moves
Dick's Sporting Goods stock jumped 15.5% to 216.93 in market action Thursday. DKS shares advanced 3% to 187.76 Wednesday. The stock is up around 40% in 2024 and on pace for its fifth straight monthly gain, according to MarketSurge analysis.
In an uneven launch to the year, many retail stocks — notably Abercrombie & Fitch — have scored market-leading gains. Costco, Abercrombie & Fitch and Ross Stores all slumped last Friday amid their latest earnings reports.
Dick's stock has a 92 Composite Rating out of a best-possible 99. It also has a 92 Relative Strength Rating and an 85 EPS Rating.
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