PITTSBURGH, March 12, 2019 /PRNewswire/ — DICK’S Sporting Goods, Inc. (NYSE: DKS), the largest U.S. based full-line omni-channel sporting goods retailer, today reported sales and earnings results for the fourth quarter and full year ended February 2, 2019.
Adjusted for the calendar shift due to the 53rd week in 2017 consolidated same store sales decreased 3.1% on a 52-week to 52-week comparable basis. Net sales for the 52 weeks ended February 2, 2019 decreased 1.8% from last year’s 53 week period to approximately $8.44 billion. Fiscal 2017 consolidated same store sales decreased 0.3% on a 52-week to 52-week comparative basis.
Full Year 2019 Outlook
- Based on an estimated 95 million diluted shares outstanding, the Company currently projects earnings per diluted share to be approximately $3.15 to 3.35, which includes approximately $30 million, or $0.23 per diluted share, of net investments in business transformation initiatives. The Company’s earnings per diluted share guidance includes the expectation of share repurchases to fully offset dilution in 2019. The Company reported earnings per diluted share of $3.24 for the 52 weeks ended February 2, 2019.
- Consolidated same store sales are currently expected to be approximately flat to an increase of 2%, compared to a 3.1% decrease in 2018. The Company expects to deliver positive consolidated same store sales beginning in the second quarter.
- The Company expects to open seven new DICK’S Sporting Goods stores and relocate three DICK’S Sporting Goods stores in 2019. The Company also expects to open two new Golf Galaxy stores and relocate one Golf Galaxy store in 2019. Six of the new stores are expected to open during the third quarter.
- In 2019, the Company anticipates capital expenditures to be approximately $230 million on a gross basis and approximately $200 million on a net basis. In 2018, capital expenditures were $198 million on a gross basis and $170 million on a net basis.