Dick's Sporting Goods reports 18% sales increase

16/08/2006

US-based sporting goods, equipment, apparel and footwear retailer Dick's Sporting Goods, Inc. has reported improved sales and earnings results for the second quarter ended July 29.

Net income increased to $25.7 million compared with prior year net income of $22.1 million, including $5.3 million pre-tax of merger integration costs and a $1.8 million pre-tax gain on sale of investment.

Net sales for the quarter increased 18% to $734 million while comparable store sales increased 6.5%. The former Galyan's stores are included in the second quarter comparable store sales calculation.

Net income for the 26 weeks ended July 29 increased 26% to $37.1 million compared with prior year pro forma net income of $29.4 million. Net sales increased 16% to $1,380 million while comparable store sales increased 6.9%. The former Galyan's stores are not included in the year-to-date comparable store sales calculation.