DICK’S Sporting Goods, Inc. (NYSE: DKS) on Tuesday announced financial results for the second quarter of 2023, reporting an increase in net sales.
Net sales of the company increased 3.6% year-over-year to $3.22 billion in the July quarter. Comparable store sales rose 1.8%, which marked an improvement from the prior-year quarter when comparable sales declined 5.1%.
Net income, on a reported basis, decreased to $244 million or $2.82 per share in the second quarter from $319 million or $3.25 per share last year. Adjusted earnings were $2.82 per share, down 23%.
“We are pleased with our strong sales performance for the second quarter led by robust transaction growth and continued market share gains. Within the quarter, sales accelerated significantly in July, and we remain confident in delivering positive comp sales for 2023,” said Lauren Hobart, CEO of DICK’s Sporting.