Dick's Sporting Goods Files 2024 10-K Report

TL;DR

<b>Dick's Sporting Goods filed its 2024 10-K report on March 28, 2024, detailing its fiscal year ended February 3, 2024.</b>

AI Summary

DICK'S SPORTING GOODS, INC. (DKS) filed a Annual Report (10-K) with the SEC on March 28, 2024. Fiscal year ended February 3, 2024, reported. Filed on March 28, 2024. Company name: DICK'S SPORTING GOODS, INC. Ticker symbol: DKS. Form type: 10-K.

Why It Matters

For investors and stakeholders tracking DICK'S SPORTING GOODS, INC., this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, operations, and risk factors for the fiscal year. Investors and analysts can use this report to assess the company's financial health, strategic direction, and future prospects.

Risk Assessment

Risk Level: — DICK'S SPORTING GOODS, INC. shows moderate risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news, indicating a low level of immediate risk.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand DKS's performance and outlook.

Key Numbers

• 2024-02-03 — Fiscal Year End (Reported fiscal year end date)
• 2024-03-28 — Filing Date (Date the 10-K was filed)

Key Players & Entities

• DICK'S SPORTING GOODS, INC. (company) — Filer name
• DKS (company) — Ticker symbol
• 2024-03-28 (date) — Filing date
• 2024-02-03 (date) — Fiscal year end

FAQ

Industry Context

Dick's Sporting Goods operates in the retail sector, specifically focusing on sporting goods and outdoor equipment.

Regulatory Implications

The filing is a standard SEC Form 10-K, adhering to regulations for public companies in the United States.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key performance indicators.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into business trends and strategies.
3. Examine the Risk Factors section for potential challenges and uncertainties facing the company.

Year-Over-Year Comparison

This is the annual 10-K filing for the fiscal year ended February 3, 2024, providing updated financial and operational information compared to previous filings.

Key Financial Figures

• $0.01 — ange on which Registered Common Stock, $0.01 par value DKS The New York Stock Exchan
• $1.6 b — our second largest brand, representing $1.6 billion, or approximately 13%, of consoli

Filing Documents

• dks-20240203.htm (10-K) — 1794KB
• dks-exhibit_35x20240203.htm (EX-3.5) — 90KB
• dks-exhibit_21x20240203.htm (EX-21) — 6KB
• dks-exhibit_231x20240203.htm (EX-23.1) — 2KB
• dks-exhibit_311x20240203.htm (EX-31.1) — 10KB
• dks-exhibit_312x20240203.htm (EX-31.2) — 10KB
• dks-exhibit_321x20240203.htm (EX-32.1) — 5KB
• dks-exhibit_322x20240203.htm (EX-32.2) — 5KB
• dks-exhbit_971x20240203.htm (EX-97.1) — 15KB
• dks-20240203_g1.jpg (GRAPHIC) — 124KB
• 0001089063-24-000037.txt (&nbsp;) — 9707KB
• dks-20240203.xsd (EX-101.SCH) — 62KB
• dks-20240203_cal.xml (EX-101.CAL) — 91KB
• dks-20240203_def.xml (EX-101.DEF) — 346KB
• dks-20240203_lab.xml (EX-101.LAB) — 836KB
• dks-20240203_pre.xml (EX-101.PRE) — 594KB
• dks-20240203_htm.xml (XML) — 1256KB

Risk Factors

Item 1A. Risk Factors 11

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 21

Cybersecurity

Item 1C. Cybersecurity 21

Properties

Item 2. Properties 22

Legal Proceedings

Item 3. Legal Proceedings 24

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 24 Part II 25

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 25

[Reserved]

Item 6. [Reserved] 26

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 36

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 36

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 36

Controls and Procedures

Item 9A. Controls and Procedures 36

Other Information

Item 9B. Other Information 39

Disclosure Regarding Foreign Jurisdictions That Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 39 Part III 40

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 40

Executive Compensation

Item 11. Executive Compensation 40

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 40

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 41

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 41 Part IV 42

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 42

Form 10-K Summary

Item 16. Form 10-K Summary 71

SIGNATURES

SIGNATURES 77 2 Table of Contents

Forward-Looking Statements

Forward-Looking Statements We caution that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this Annual Report on Form 10-K or made by our management involve risks and uncertainties and are subject to change based on various important factors, many of which may be beyond our control. Accordingly, our future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. Investors should not place undue reliance on forward-looking statements as a prediction of actual results. These statements can be identified as those that may predict, forecast, indicate or imply future results, performance or advancements and by forward-looking words such as "believe", "anticipate", "expect", "estimate", "predict", "intend", "plan", "project", "goal", "will", "will be", "will continue", "will result", "could", "may", "might" or any variations of such words or other words with similar meanings. Forward-looking statements address, among other things, our belief that many consumers have made lasting lifestyle changes with an increased focus on health and fitness, sports, and outdoor activities, leading to structurally higher sales; current macroeconomic conditions, including the uncertain impact of inflationary pressures, the expiration of student loan payment deferments and elevated interest rates; supply chain disruptions, including factory closures and port congestion; changes in consumer demand for products in certain categories, including fitness and outdoor equipment; the adequacy of our cash flow; our ability to control expenses and manage inventory shrink; the impact of our business optimization efforts completed in 2023; plans to opportunistically open new stores in under-penetrated markets and leverage our real estate portfolio to capitalize on future opportunities in the near and intermediate term as our existing leases come up for re

BUSINESS

ITEM 1. BUSINESS General DICK'S Sporting Goods, Inc. (together with its subsidiaries, referred to as "the Company", "we", "us" and "our" unless specified otherwise) is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of February 3, 2024, we operated 724 DICK'S Sporting Goods locations across the United States, serving and inspiring our customers, whom we refer to as athletes, to achieve their personal best through interactions with our dedicated employees, whom we refer to as our teammates, in-store experiences and unique specialty shop-in-shops. In addition to DICK'S Sporting Goods stores, we own and operate Golf Galaxy, Public Lands, Moosejaw and Going Going Gone! specialty concept stores and also offer our products online and through our mobile apps. We also own and operate DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming. We celebrated our 75th anniversary as a Company in 2023 and are proud of our growth and accomplishments since our inception. We were founded and incorporated in 1948 in New York under the name Dick's Clothing and Sporting Goods, Inc. when Richard "Dick" Stack, the father of Edward W. Stack, our Executive Chairman, opened his original bait and tackle store in Binghamton, New York. Edward W. Stack joined his father's business full-time in 1977 and in 1984 became President and Chief Executive Officer of the then two-store chain. In November 1997, we reincorporated as a Delaware corporation, and in April 1999 we changed our name to DICK'S Sporting Goods, Inc. 3 Table of Contents Our executive office is located at 345 Court Street, Coraopolis, Pennsylvania 15108 and our phone number is (724) 273-3400. Our website is located at dicks.com. The information on our website does not constitute a part of this

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View this 10-K filing on SEC EDGAR