Financial Performance - Net sales increased 0.5% to $3.06 billion in the current quarter from $3.04 billion during the third quarter of 2023, with a calendar shift unfavorably impacting net sales comparisons by approximately $105 million[63] - Comparable sales increased 4.2% when adjusted for the calendar shift, following a 1.9% increase in the same period last year[63] - Net income for the current quarter was $227.8 million, or $2.75 per diluted share, compared to $201.1 million, or $2.39 per diluted share, during the third quarter of 2023[63] - Net sales increased 0.5% to $3,057.2 million in Q3 2024, with comparable sales increasing 4.2% adjusted for calendar shift[73] - Gross profit increased to $1,093.4 million in Q3 2024, with merchandise margins increasing 104 basis points due to favorable sales mix[75] - Income from operations increased to $286.0 million in Q3 2024, up from $272.9 million in Q3 2023[74] - Net sales for the 39 weeks ended November 2, 2024, increased 4.8% to $9,549.2 million, with comparable sales up 4.7% adjusted for calendar shift[81] - Income from operations for the 39 weeks ended November 2, 2024, increased to $1,086.9 million, compared to $910.3 million in the prior year period[82] - Gross profit increased to $3,464.4 million, up 115 basis points as a percentage of net sales, driven by favorable sales mix, lower inventory shrink, and reduced eCommerce shipping costs[83] Expenses and Costs - Selling, general and administrative expenses increased 2.9% to $790.6 million in Q3 2024, driven by strategic investments and higher incentive compensation[77] - Pre-opening expenses decreased to $16.8 million in Q3 2024 from $20.3 million in Q3 2023, reflecting fluctuations in new store openings[78] - Selling, general and administrative expenses increased 4.7% to $2,330.7 million, but decreased as a percentage of net sales by 4 basis points due to higher net sales[84] - Pre-opening expenses decreased to $46.8 million, supporting the opening of five DICK'S House of Sport stores compared to nine in the prior year[86] - The effective tax rate increased to 22.9% from 18.7% due to lower excess tax benefits from employee equity awards[88] Capital and Investments - The company plans to open additional DICK'S House of Sport stores, next-generation 50,000 square foot DICK'S stores, and Golf Galaxy Performance Center stores[44] - The company expects capital expenditures to be concentrated on new store development, relocations, remodels, and technology investments to enhance store fulfillment and in-store pickup capabilities[44] - Capital expenditures for the 39 weeks ended November 2, 2024, totaled $565.6 million, with fiscal 2024 expected to reach $800 million[94][96] - Share repurchases during the 39 weeks ended November 2, 2024, totaled $170.3 million, with $609.3 million remaining under the repurchase program[97] - Dividends paid during the 39 weeks ended November 2, 2024, amounted to $273.1 million, with a quarterly dividend of $1.10 per share declared[99] - Net cash provided by operating activities decreased by $84.4 million to $680.3 million, primarily due to changes in inventory levels and accounts payable[104] Inventory and Margin - Inventory shrink as a percentage of net sales decreased 27 basis points during the year-to-date period compared to 2023[54] - The company expects gross margin to expand year-over-year in 2024, with selling, general, and administrative expenses leveraging as a percentage of net sales[55] Business Optimization and Charges - The company completed a business optimization in 2023, resulting in $72.8 million of charges within selling, general, and administrative expenses[55] Dividends and Shareholder Returns - Declared and paid a quarterly cash dividend of $1.10 per share of common stock and Class B common stock[66] - The company anticipates returning capital to stockholders through dividends and share repurchases[44] Store Count and Expansion - Total stores increased to 864 as of November 2, 2024, compared to 869 as of October 28, 2023, with 17 DICK'S House of Sport stores and 22 DICK'S Field House stores[67] Other Income and Expenses - Other income totaled $24.0 million in Q3 2024, including a $15.5 million decrease in deferred compensation plan investment expenses[79] - Other income totaled $75.1 million, including a $19.8 million decrease in deferred compensation plan investment expenses[87] Cash and Credit Facilities - Cash on hand as of November 2, 2024, was $1.46 billion, with a $1.6 billion unsecured credit facility available[89] Future Outlook - The company expects full-year 2024 comparable sales growth to be in the range of 3.6% to 4.2% and earnings per diluted share to be in the range of $13.65 to $13.95[52]

U.S. stocks traded mostly higher toward the end of trading, with the S&P 500 gaining around 0.5% on Tuesday.The Dow traded up 0.05% to 44,759.66 while the NASDAQ rose 0.59% to 19,166.93. The S&P 500 also rose, gaining, 0.47% to 6,015.37.Check This Out: Jim Cramer: Linde Is A ‘Terrific’ Company, Sees Another Stock Up 75% As ‘Not Done’Leading and Lagging SectorsUtilities shares jumped by 1.1% on Tuesday.In trading on Tuesday, materials shares fell by 0.7%.Top HeadlineDick's Sporting Goods Inc. DKS reported up ...

About this content About Oliver Haill Oliver has been writing about companies and markets since the early 2000s, cutting his teeth as a financial journalist at Growth Company Investor with a focusing on AIM companies and small caps, before a few years later becoming a section editor and then head of research. He joined Proactive after a couple of years freelancing, where he worked for the Financial Times Group, ITV, Press Association, Reuters sports desk, the London Olympic News Service, Rugby World Cup ...

Earnings Performance - Dick's Sporting Goods reported third quarter earnings per share (EPS) of $2.75, exceeding estimates [1] - Revenue increased by 0.5% to $3.06 billion, surpassing expectations [1] - Comparable store sales rose by 4.2%, compared to 1.9% in the previous year [1] Guidance and Market Share - The company raised its full-year EPS guidance to $13.65 to $13.95, up from the previous forecast of $13.55 to $13.90 [1] - Full-year sales are now anticipated to be $13.2 billion to $13.3 billion, an increase from the earlier $13.1 billion to $13.2 billion [1] - Comparable store sales are expected to grow by 3.6% to 4.2%, compared to the earlier outlook of 2.5% to 3.5% [1] - The company gained market share during a strong back-to-school shopping season [1] Inventory Concerns - Inventory levels increased by 13% from 2023, raising concerns among investors [1] - The CFO stated that the inventory investment is focused on strong product offerings and is well-positioned for the fourth quarter [1] Stock Performance - Shares of Dick's Sporting Goods were up slightly by 0.24% mid-day Tuesday [1] - The stock has gained more than 40% in 2024 [1]

Dick’s Sporting Goods’ third-quarter 2024 earnings results exceeded analyst expectations and demonstrated continued momentum as the back-to-school season transitioned into the holiday shopping period.During an earnings call Tuesday (Nov. 26), executives credited strategic initiatives, strong team execution and an omnichannel approach for the company’s continued momentum, despite headwinds from a challenging macroeconomic landscape. Behind-the-scenes elements like payments innovations, supply chain logistics ...

We have traded DICK'S Sporting Goods, Inc. (NYSE: DKS ) several times in the last few years, most recently calling it a buy in September. Shares have not done much in that time, but we like buying the closerMissed the early gains in DKS when we were trading it at BAD BEAT? Come get moreWe are the shop for short and medium-term trades to build wealth.We activated our BLACK FRIDAY deal ahead of other services, so you can lock in our best price in years. Join Seeking Alpha's premier service while spots remain, ...

DICK'S Sporting Goods, Inc. (NYSE:DKS) Q3 2024 Earnings Conference Call November 26, 2024 8:00 AM ET Company Participants Nate Gilch - Senior Director, IR Lauren Hobart - President and CEO Navdeep Gupta - EVP and CFO Conference Call Participants Adrienne Yih - Barclays Simeon Gutman - Morgan Stanley Brian Nagel - Oppenheimer Kate McShane - Goldman Sachs Robert Ohmes - Bank of America John Kernan - TD Cowen Michael Lasser - UBS Kelly Crago - Citigroup Justin Kleber - Baird Operator Ladies and gentlemen, than ...

Dick's Sporting Goods (DKS) reported $3.06 billion in revenue for the quarter ended October 2024, representing a year-over-year increase of 0.5%. EPS of $2.75 for the same period compares to $2.85 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $3.02 billion, representing a surprise of +1.25%. The company delivered an EPS surprise of +2.61%, with the consensus EPS estimate being $2.68.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

Dick's Sporting Goods (DKS) came out with quarterly earnings of $2.75 per share, beating the Zacks Consensus Estimate of $2.68 per share. This compares to earnings of $2.85 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.61%. A quarter ago, it was expected that this sporting goods retailer would post earnings of $3.77 per share when it actually produced earnings of $4.37, delivering a surprise of 15.92%.Over the last four qu ...

The Dick's Sporting Goods logo is displayed on the floor of a store on September 04, 2024 in Daly City, California.Dick's Sporting Goods raised its full-year guidance on Tuesday after what CEO Lauren Hobart called an "excellent" back-to-school shopping season and better-than-expected comparable sales for its third quarter. The sporting goods giant is now expecting fiscal 2024 same-store sales to grow between 3.6% and 4.2%, up from a previous range of 2.5% to 3.5%. That's ahead of the 3.4% growth that Wall S ...