Dick’s Sporting Goods Inc. on Wednesday reported sales rose 7.8 percent to $3.47 billion in the second quarter, prompting the U.S. sports retailer to raise its full-year outlook.
The Pittsburgh-based company said comparable-store sales grew 4.5%, after comparable-store sales grew 2% in the year-ago period. Comparable-store sales over the six months were up 4.9% for the period ended Aug. 3.
Net income was reported at $362.2 million, or $4.37 per diluted share, in the second quarter, compared to $325.9 million, or $2.82 per diluted share, in the year-ago quarter, an increase of 55 percent.
“We had a very strong second quarter. With our comprehensive sports expertise, superior product portfolio, best-in-class teammate experience, and ability to create deep engagement with the Dick’s brand, we are driving sustained top-line momentum and gaining market share,” he said. Lauren Hobart, Chairman and CEO of Dick’s Sporting Goods.
“Our second quarter results were driven by average ticket and transaction growth, and combined with sales growth, gross margin expansion and general and administrative leverage, we achieved a pre-tax EBIT margin of approximately 14%. Given our strong second quarter performance and confidence in our business, we are again raising our full-year outlook.”
Looking to the future, Dick It said it was raising its full-year 2024 guidance for comparable sales growth to A group of The company also raised its fiscal 2024 earnings per diluted share forecast to a range of $13.55 to $13.90 per diluted share, compared to the previous forecast of $13.35 to $13.75 per diluted share.
All rights reserved © 2024 FashionNetwork.com.