Dick’s Sporting Goods Q4 profit up 27%, to open 40 stores in 2012


Dick’s Sporting Goods Inc. reported Tuesday that profit for the fourth quarter rose 27% to $111.1 million, compared with $87.5 million in the year-ago period. Revenue increased 6% to $1.61 billion from $1.52 billion, matching Wall Street expectations. Same-store sales inched up 0.1%.

By banner, Golf Galaxy posted a 9% increase in same-store sales for the quarter, but namesake stores slipped 2.5%.

For the full year, the company posted a profit of $263.9 million, up from $182.1 million in the previous year. Annual revenue rose 7% to $5.21 billion, from $4.87 billion.

“In 2012, we will continue to build on our momentum as we profitably grow the business with earnings expected to increase approximately 18% to 19%, while simultaneously investing in key strategic areas including new stores, e-commerce, inventory management systems and private brands,” said Edward W. Stack, chairman and CEO.

[via ChainStoreAge]

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