Dick's Sporting Goods, Inc. has reported its fourth quarter and full year 2024 results, indicating a 6.4% growth in fourth quarter comparable sales and a 5.2% growth in full year comparable sales. The company's full year 2024 earnings per diluted share stood at $14.05, representing a 15% increase from the previous year's $12.18 and a 9% increase from the non-GAAP earnings per diluted share of $12.91 in 2023.
In terms of store expansion, the company opened seven House of Sport locations and 15 Dick's Field House locations in 2024. Looking ahead to 2025, there are plans to open approximately 16 additional House of Sport locations and approximately 18 additional Dick's Field House locations.
The company's 2025 outlook expects full year comparable sales growth to be in the range of 1.0% to 3.0% and earnings per diluted share to be in the range of $13.80 to $14.40.
In the balance sheet, cash and cash equivalents as of February 1, 2025, amounted to $1,690 million, a 6% decrease from the previous year. In contrast, inventories, net saw an 18% increase to reach $3,350 million compared to the previous year.
The company reported several changes in its capital allocation for the 52 weeks ended February 1, 2025. Share repurchases amounted to $268 million, representing a significant decrease of 59% from the previous year's $649 million. Dividends paid increased by 3% to reach $362 million, and gross capital expenditures also saw a notable increase of 37% to $803 million.
The board of directors authorized a 10% increase in the quarterly dividend and a new five-year share repurchase program of up to $3 billion.
Looking at store count and square footage, the company ended fiscal 2024 with a total of 856 stores, with a total square footage of 42.7 million, reflecting a slight increase from the previous year.
Today the company's shares have moved -6.4% to a price of $197.48. For more information, read the company's full 8-K submission here.
