Three-quarters of shoppers visit stores at some point in their purchasing journey, according to data from the PYMNTS Intelligence study "2024 Global Digital Shopping Index: U.S. Edition." The report, created in collaboration with Visa Acceptance Solutions and drawing from a survey of more than 2,400 United States consumers, found that 44% of consumers prefer to shop in stores without any digital engagement. Another 19% want to shop in stores with digital assistance, and 11% of shoppers like to place orders ...

In the fiscal first quarter, the SG&A expense rate of 24.6% expanded 20 bps year over year. SG&A expenses, in dollar terms, increased 7.1% to $743.4 million and beat our estimate of $719.2 million. DICK'S Sporting Goods, Inc. (DKS) posted impressive first-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. Sales also improved year over year. Despite the challenging macroeconomic environment, the company has been benefiting from its strategic efforts and continued ...

Shares of sporting-goods retailer Dick's Sporting Goods (DKS 15.28%) skyrocketed on Wednesday after it reported what some analysts described as "blowout" financial results for its fiscal 2024 first quarter. As of 12:30 p.m. ET, the stock was up by 16% and had hit a new all-time high. Sales and profits are surprisingly strong It's been a good few years for Dick's Sporting Goods, and investors have been waiting for its results to finally cool off. But it seems that consumers are still looking for sporting goo ...

DICK'S Sporting Goods, Inc. (NYSE:DKS) Q1 2024 Earnings Conference Call May 29, 2024 8:00 AM ET Company Participants Nate Gilch - Senior Director, Investor Relations Lauren Hobart - President and Chief Executive Officer Navdeep Gupta - Executive Vice President and Chief Financial Officer Conference Call Participants Adrienne Yih - Barclays Simeon Gutman - Morgan Stanley Kate McShane - Goldman Sachs Christopher Horvers - JPMorgan Robert Ohmes - Bank of America Warren Cheng - Evercore ISI Michael Baker - D.A. ...

Key Takeaways The company now sees 2024 EPS in a range of $13.35 to $13.75, up from the previous outlook of $12.85 to $13.25. It predicts a comparable store sales gain of 2.0% to 3.0%, compared with the earlier view of a 1.0% to 2.0% rise. Dick's Sporting Goods shares soared 15% to $224.30 as of 10:06 a.m. ET Wednesday after setting a new high for the year of $228.36 earlier in the session. They are up more than 50% in 2024. Shares of Dick's Sporting Goods (DKS) surged Wednesday after the sports and recreat ...

About this content About Jamie Ashcroft Jamie Ashcroft, the News Editor for Proactive UK, has developed an impressive career in financial journalism, focusing on the small-cap sector for over fourteen years. Before joining the Proactive team, he was a stockbroker during the global financial crisis, a role that complemented his educational background - a first- class degree in Business and Economics and qualifications in software design and development. As one of the early external hires at Proactive in 2009 ...

Dick's Sporting Goods (DKS) came out with quarterly earnings of $3.30 per share, beating the Zacks Consensus Estimate of $2.94 per share. This compares to earnings of $3.40 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.24%. A quarter ago, it was expected that this sporting goods retailer would post earnings of $3.35 per share when it actually produced earnings of $3.85, delivering a surprise of 14.93%. Over the last four ...

Financial Performance - DICK'S Sporting Goods reported net sales of $3.02 billion for Q1 2024, an increase of 6.2% compared to the prior year[6]. - Comparable sales grew by 5.3%, driven by an increase in transactions and average ticket size[7]. - Net income for Q1 2024 was $275 million, a decrease of 10% from $305 million in Q1 2023[6]. - Earnings per diluted share were reported at $3.30, down 3% from $3.40 in the same quarter last year[6]. - Gross profit for the same period was $1,095,293, representing a gross margin of 36.29%, compared to 36.19% in the prior year[24]. - For the 13 weeks ended May 4, 2024, GAAP net income was $342,356,000, with earnings per diluted share at $3.30, representing a decrease from $304,649,000 and $3.40 for the same period in 2023[30]. - Non-GAAP net income for the same period was $342,356,000, with a consistent earnings per diluted share of $3.30, unchanged from the previous year[30]. - The company reported a net income margin of 11.34% for the 13 weeks ended May 4, 2024, compared to 11.55% in the same period of 2023[30]. Guidance and Future Outlook - DICK'S raised its full year 2024 guidance for comparable sales growth to a range of 2.0% to 3.0%, up from the previous range of 1.0% to 2.0%[7]. - The company also increased its earnings per diluted share guidance for 2024 to a range of $13.35 to $13.75, up from $12.85 to $13.25[7]. - The overall performance indicates a strategic focus on managing expenses while increasing capital expenditures for future growth[30][32]. Capital Expenditures and Investments - DICK'S plans to allocate approximately $900 million in capital expenditures on a gross basis for 2024[11]. - Capital expenditures for the quarter were $157,525, compared to $84,507 in the previous year[28]. - Gross capital expenditures increased to $157,525,000 for the 13 weeks ended May 4, 2024, compared to $84,507,000 in the same period of 2023[32]. - Net capital expenditures for the same period were $126,156,000, up from $60,823,000 in the prior year[32]. - The company provided construction allowances of $31,369,000 for the 13 weeks ended May 4, 2024, compared to $23,684,000 in the same period of 2023[32]. Shareholder Returns - The company repurchased 0.5 million shares at an average price of $207.32 per share, totaling $113.6 million[8]. Assets and Liabilities - Total current assets increased to $5,161,766 from $4,942,989 year-over-year[26]. - Total assets reached $9,704,995, up from $9,107,812 in the previous year[26]. - Cash and cash equivalents at the end of the period were $1,649,077, slightly up from $1,642,680 in the prior year[28]. - Total stockholders' equity increased to $2,687,266 from $2,674,170 year-over-year[26]. Operating Activities - Net cash provided by operating activities was $231,719, a significant improvement from a net cash used of $(48,380) in the same period last year[28]. Expenses - Selling, general and administrative expenses as a percentage of net sales were 24.63% for the 13 weeks ended May 4, 2024, compared to 24.41% in the same period of 2023[30]. - Other income expense was $(25,392,000) for the 13 weeks ended May 4, 2024, compared to $(17,707,000) in the same period of 2023[30]. - Deferred compensation plan adjustments had a minimal impact, with non-GAAP adjustments of $(21,645,000) for the current period[30].

A shopping cart sits in front of a Dick's Sporting Goods store on August 26, 2020 in Daly City, California. Dick's Sporting Goods on Wednesday said customers are spending more on new sneakers and athletic gear, leading the retailer to raise its full-year earnings guidance. Shares jumped about 7% in premarket trading. Sales rose to $3.02 billion, up about 6% from $2.84 billion a year earlier. The strong quarter led Dick's to raise its full-year guidance. The retailer is now expecting earnings per share to be ...

– Delivers Net Sales of $3.02 Billion, Up 6.2% Versus the Prior Year – – Delivers Double-Digit EBT Margin of 11.3% – Delivered 5.3% comparable sales growth, driven by growth in transactions and average ticket Reported earnings per diluted share of $3.30 with 4% EBT growth Raises full year 2024 guidance for comparable sales growth to a range of 2.0% to 3.0%, up from 1.0% to 2.0% previously Raises full year 2024 earnings per diluted share guidance to a range of $13.35 to 13.75, up from $12.85 to 13.25 previou ...