Dick's Sporting Goods Q4 Sales Up 5.7%

TL;DR

DKS crushed Q4 expectations, sales up 5.7% to $3.41B!

AI Summary

On March 13, 2024, DICK'S SPORTING GOODS, INC. (DKS) filed an 8-K to announce preliminary sales results for the fourth quarter and full fiscal year 2023. The company expects net sales to be approximately $3.41 billion for Q4 FY23, a 5.7% increase compared to the prior year. Full-year FY23 net sales are projected to be around $12.37 billion, up 2.8% year-over-year.

Why It Matters

This filing provides investors with an early look at DICK'S SPORTING GOODS' sales performance, indicating positive consumer spending trends in the sporting goods sector for the holiday season.

Risk Assessment

Risk Level: low — The filing reports preliminary sales figures, which are generally positive and do not indicate any immediate or significant risks.

Key Numbers

• $3.41B — Q4 FY23 Net Sales (Represents a 5.7% increase year-over-year.)
• $12.37B — Full-Year FY23 Net Sales (Represents a 2.8% increase year-over-year.)

Key Players & Entities

• DICK'S SPORTING GOODS, INC. (company) — Registrant
• DKS (company) — Ticker Symbol
• March 13, 2024 (date) — Filing Date
• $3.41 billion (dollar_amount) — Q4 FY23 Net Sales Projection
• $12.37 billion (dollar_amount) — Full-Year FY23 Net Sales Projection

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value DKS The New York Stock Exchan
• $1.10 — d a quarterly dividend in the amount of $1.10 per share on the Company's Common Stock

Filing Documents

• dks-20240313.htm (8-K) — 39KB
• dks-20240203xex991earnings.htm (EX-99.1) — 464KB
• dks-20240203xex992.htm (EX-99.2) — 13KB
• dicks_2023.jpg (GRAPHIC) — 680KB
• 0001089063-24-000011.txt ( ) — 1603KB
• dks-20240313.xsd (EX-101.SCH) — 2KB
• dks-20240313_lab.xml (EX-101.LAB) — 21KB
• dks-20240313_pre.xml (EX-101.PRE) — 12KB
• dks-20240313_htm.xml (XML) — 3KB

02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION 3

01. REGULATION FD DISCLOSURE

ITEM 7.01. REGULATION FD DISCLOSURE 3

01. OTHER EVENTS

ITEM 8.01. OTHER EVENTS 3

01. FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS 3 SIGNATURE 4

02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION On March 14, 2024, the Company issued a press release announcing its results for the fourth fiscal quarter ended February 3, 2024 and certain other information that is furnished as Exhibit 99.1 to this Form 8-K.

01. REGULATION FD DISCLOSURE

ITEM 7.01. REGULATION FD DISCLOSURE The Company is furnishing the following information: Beginning in fiscal 2024, the Company is revising its method for determining comparable store sales calculations. Comparable store sales measure the growth in sales for the same store location for a particular period from the corresponding period in the prior year and includes both brick and mortar and eCommerce sales. Prior to fiscal 2024, revenue from the Company's GameChanger business was excluded from comparable store sales calculations. Beginning in fiscal 2024, GameChanger revenue will be included in its calculations as the Company views the revenue generated from this business similarly to sales from its existing brick and mortar store locations and eCommerce websites. Beginning in fiscal 2024, the Company will refer to this metric as "comparable sales." The table being furnished and included herewith as Exhibit 99.2 presents quarterly and full year comparable sales results for fiscal 2023 calculated in the same manner as comparable sales will be calculated beginning in fiscal 2024. The table will be made available on the investor relations section of the Company's website at investors.dicks.com and such figures will be reflected as the Company's historical comparable sales results in the future.

01. OTHER EVENTS

ITEM 8.01. OTHER EVENTS On March 13, 2024, the Board of Directors of Dick's Sporting Goods, Inc. authorized and declared a quarterly dividend in the amount of $1.10 per share on the Company's Common Stock and Class B Common Stock. The dividend is payable in cash on April 12, 2024 to stockholders of record at the close of business on March 29, 2024.

01. FINANCIAL STATEMENTS AND EXHIBITS

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS (d) Exhibits. The following exhibits are being furnished pursuant to Item 601 of Regulation S-K and General Instruction B.2 to this Form 8-K: Exhibit No. Description 99.1 Press Release dated March 14, 2024 by Dick's Sporting Goods, Inc. furnished herewith 99.2 Comparable sales revisions 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DICK'S SPORTING GOODS, INC. Date: March 14, 2024 By: /s/ NAVDEEP GUPTA Name: Navdeep Gupta Title: Executive Vice President – Chief Financial Officer Exhibit Index Exhibit No. Description 99.1 Press Release dated March 14, 2024 by Dick's Sporting Goods, Inc. furnished herewith 99.2 Comparable sales revisions 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

View Full Filing

View this 8-K filing on SEC EDGAR