Sporting goods retailer Dick’s Sporting Goods today reported a spike in its top and bottom line numbers, driven by tax gains and e-commerce sales. Sales increased 7.2% to $26.6 billion from the year-ago period. Profit spiked considerably by 28.5% to $115.9 million. However, on an adjusted basis, Dick’s earnings dropped 7.5% to $1.22 per share.
Same store sales, on a consolidated basis, declined 2% for the quarter and declined 0.3% for the full year 2017. eCommerce sales for the fourth quarter jumped about 9% year-over-year, as the company completed its first holiday season on its new web platform.
For the full year 2018, the company expects to report diluted earnings per share in the range of $2.80 to $3.00. The athletic goods and apparel retailer expects the same store sales to be about flat to decrease in the low single-digit percentage range vs. a 0.3% decline in 2017.
Dick’s expects to open about 19 new DICK’S Sporting Goods stores and relocate about four of these stores in 2018. The company expects to open about eight of these new stores in first quarter 2018 alone. In 2018, the company is not anticipating opening any new Field & Stream or Golf Galaxy stores.