DICK’S Sporting Goods, Inc. (NYSE: DKS) on Wednesday announced financial results for the second quarter of 2024, reporting a double-digit growth in net profit.
Net sales of the sportswear company increased 8% year-over-year to $3.5 billion in the July quarter. Comparable store sales rose 4.5%, slower than the 5.3% growth seen in the prior quarter.
Net income, on a reported basis, increased to $362 million or $4.37 per share in the second quarter from $244 million or $2.82 per share last year. Adjusted earnings were $3.30 per share.
“We delivered a very strong second quarter. Powered by our compelling omnichannel athlete experience, differentiated product assortment, best-in-class teammate experience, and our ability to create deep engagement with the DICK’S brand, we are driving sustained top-line momentum and gaining market share,” said Lauren Hobart, CEO of DICK’s Sporting.
