Dick’s Sporting Goods Q4 profit up 6.9%
New York — Dick’s Sporting Goods reported consolidated net income of $138.6 million, for the 13-week period ended Feb. 1. Results also exceeded the company’s performance in last year’s fourth quarter, which had an additional week. For the 14-week period ended Feb. 2, 2013, the company reported consolidated net income of $129.7 million.
The company reported a net sales increase for the quarter of 7.9% to $1.9 billion compared to the prior-year quarter. On a 13-week to 13-week basis, net sales increased 12.5%. Adjusted for the additional week last year’s fourth quarter, consolidated same-store sales increased 7.3% — compared to last year’s increase of 1.2% — although the company was expecting a 3 to 4% increase. Adjusted same-store sales in the quarter for Dick’s Sporting Goods stores increased 7.9% while same-store sales at Golf Galaxy decreased 11.7%. E-commerce penetration for the quarter was 12.2% of total sales.
"We generated strong results in our fourth quarter, with record earnings per share of $1.11, above the upper end of the guidance range we provided in our third quarter press release, as our sales and merchandise margin exceeded our expectations," said chairman and CEO Edward W. Stack. "As we look to 2014, we believe our robust and growing omnichannel network and exciting merchandising opportunities will support double-digit growth in earnings."
In the fourth quarter, the company opened six new Dick’s Sporting Goods stores, one new True Runner store and closed three underperforming Golf Galaxy stores. The company also remodeled one Dick’s Sporting Goods store during the fourth quarter. As of Feb. 1, the company operated 558 Dick’s Sporting Goods stores in 46 states, with approximately 30.1 million sq. ft. and 79 Golf Galaxy stores in 29 states, with approximately 1.4 million sq. ft.
In 2014, the company expects to open approximately 50 Dick’s Sporting Goods stores, relocate six Dick’s Sporting Goods stores and remodel five Dick’s Sporting Goods stores. The company also expects to open approximately eight Field & Stream stores, relocate two Golf Galaxy stores and open one Golf Galaxy store in 2014.
LLamasoft taps SVP of international sales
LLamasoft, a leading global supply chain design software developer, has named Alejandro Nieto as SVP of international sales. Nieto will be responsible for sales in Latin America as well as EMEA and APAC regions.
Prior to LLamasoft Nieto held executive sales and operations positions at JDA, Infor, EXE Technologies and Prologis Trust where he gained experience in global sales and business development, business consulting and corporate planning. He is a current fellow and advisory board member of the Tower Center of International Studies at Southern Methodist University as well as advisory board member at the Monfort College of Business at the University of Northern Colorado.
“Alejandro is a well-respected supply chain software sales executive with a proven ability to lead and develop and implement strategies that will support LLamasoft’s continued international growth,” said Toby Brzoznowski, EVP and co-founder of LLamasoft.
“I am very pleased to join LLamasoft,” said Nieto. “With a reputation for exceptional supply chain design technology and expertise and a strong and growing customer base, LLamasoft is positioned for strong global growth.”
Jo-Ann unveils digital 2014 Spring LookBook
Jo-Ann Fabric and Craft Stores has enlisted four craft bloggers from around the country to create the 2014 Spring LookBook, a collection of inspiration based on five spring trends.
"The inspiration and product development teams at Jo-Ann are always on the hunt for the hottest trends — not only in crafting and sewing but in fashion, graphic design, home decor and more," said Nicole Long, manager, inspiration, for Jo-Ann. "The 2014 Spring LookBook takes those identified trends and translates them to inspiration for our customer with the help of some of our favorite bloggers.”
The five trends featured in the lookbook are Romantic, Batik, Dazzling Blue, Metallic and Summer Celebration.
Click here to learn about the bloggers and browse the entire collection of inspiration.