Pittsburgh -- Dick's Sporting Goods Inc. on Monday forecast a full-year profit for the current fiscal year that was less than expected, and also revealed it will debut a new retail concept in fiscal 2013 under the Field & Stream banner.
In 2013, the company said it will open two Field & Stream stores, 40 Dick’s Sporting Goods stores, one Golf Galaxy store and two True Runner locations. The chain also plans partial remodels of 75 existing Dick’s stores.
Dick’s said that its fourth quarter profit rose to $129.7 million from $111.1 million a year earlier. Sales for the quarter increased 12% to $1.8 billion, with a 1.2% increase in same store sales.
The company said that its growth investments in 2013 include:
Net sales for the 53 weeks ended February 2, 2013 increased 12.0% from last year's 52-week period to $5.8 billion, with a 4.3% increase in consolidated same-store sales.