Dick’s same-store sales rise 7% in Q4

Pittsburgh – Same-store sales at Dick’s Sporting Goods, Inc. rose 6% during the fourth quarter of fiscal 2013, unshifted for the 53rd week in fiscal 2012. The same-store sales results compare to guidance provided in November 2013 for a 2% to 3% increase on an unshifted basis.

Because of the better-than-expected same-store sales results and merchandise margin, partially offset by higher incentive compensation, the company now expects consolidated earnings per diluted share of approximately $1.10 to $1.11 for fourth quarter 2013, compared to guidance of $1.04 to $1.07 provided in November 2013. Dick’s also now expects consolidated non-GAAP earnings per diluted share of approximately $2.68 to 2.69 for the fiscal year 2014, compared to guidance of $2.62 to 2.65 provided in November 2013.

"Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A," said Edward W. Stack, chairman and CEO. "We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth."

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