• Mon. Nov 30th, 2020

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Long lasting stock market figure: DICK’S Sporting Goods, Inc. (NYSE: DKS)

On Friday, DICK’S Sporting Goods, Inc. stock identified change of 121.47% away from 52-week low price and recently located move of -40.14% off 52-week high price. It has market worth of $2875.17M and dividend yield of 4.19%. DKS stock has been recorded 13.51% away from 50 day moving average and -20.39% away from 200 day moving average. Moving closer, we can see that shares have been trading 9.47% off 20-day moving average.

DICK’S Sporting Goods, Inc. (DKS) recently stated sales and earnings results for the fourth quarter and full year ended February 1, 2020.

Fourth Quarter Results 

The Company stated consolidated net income for the fourth quarter ended February 1, 2020 of $69.8M, or $0.81 per diluted share. The Company stated consolidated net income for the fourth quarter ended February 2, 2019 of $102.6M, or $1.07 per diluted share.

On a non-GAAP basis, the Company stated consolidated net income for the fourth quarter ended February 1, 2020 of $113.3M, or $1.32 per diluted share. Fourth quarter 2019 non-GAAP results exclude pre-tax hunt restructuring charges of $48.8M, which included $35.7M of non-cash impairments related to a trademark and store assets and a $13.1M write-down of inventory, resulting from the Company’s decision to remove the hunt department from about 440 additional DICK’S Sporting Goods stores in fiscal 2020. There were no non-GAAP adjustments to consolidated net income for the fourth quarter ended February 2, 2019. The GAAP to non-GAAP reconciliations are included in a table later in the release under the heading “GAAP to Non-GAAP Reconciliations.”

Net sales for the fourth quarter of 2019 increased 4.7% to about $2.61B. Consolidated same store sales increased 5.3%. Fourth quarter 2018 consolidated same store sales reduced 2.2%, adjusted for the calendar shift Because of the 53rd week in fiscal 2017, which the Company believes is the best view of its business.

“We are very happy with our strong fourth quarter results. Despite the compressed holiday selling season and the challenging conditions we faced with unseasonably warm weather, we delivered a 5.3% comp sales increase, supported by increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear,” stated Edward W. Stack, Chairman and Chief Executive Officer. “During 2019, we made meaningful changes across our business, which fueled our strongest yearly comp sales gain since 2012 and a 14% increase in non-GAAP earnings per diluted share over 2018. I’d like to thank all our teammates for their hard work and commitment to DICK’S Sporting Goods, which made this performance possible.”

Mr. Stack continued, “As we enter 2020, we remain enthusiastic about our business and have been happy with our start to the year. We are excited to continue to focus on and enhance our 2019 strategies, which include optimizing our inventory and floor space, delivering differentiated merchandising and driving athlete engagement across all channels. Our outlook balances this enthusiasm with a degree of caution over the coronavirus and how it may impact our business.”

Lauren R. Hobart, President, added, “In 2019, we developed strong momentum in our stores and online. Our efforts demonstrate that when we focus on serving our athletes, we can drive a meaningful impact on sales.  We remain focused on driving positive results through an improved service and selling culture, while continuing to improve our omni-channel experience through faster and more reliable delivery as well as improved functionality and performance of our website.

Omni-channel Development

eCommerce sales for the fourth quarter of 2019 increased 15%. eCommerce penetration for the fourth quarter of 2019 was about 25% of total net sales, contrast to about 23% during the fourth quarter of 2018.

In the fourth quarter, the Company closed seven DICK’S Sporting Goods stores and one Golf Galaxy store. As of February 1, 2020, the Company operated 726 DICK’S Sporting Goods stores in 47 states, with about 38.5M square feet, 94 Golf Galaxy stores in 32 states, with about 2.0M square feet and 27 Field & Stream stores in 16 states, with about 1.2M square feet.

The Consumer Cyclical sector company, DICK’S Sporting Goods, Inc. noticed change of 7.23% to $29.81 along volume of 1887932 shares in recent session compared to an average volume of 2938.55K. DKS’s shares are at -32.59% for the quarter and driving a -17.56% return over the course of the past year and is now at -39.77% since this point in 2018. There are 96.45M shares outstanding and 61.66M shares are floated in market. Right now the stock beta is 1.54.

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