Positive Q3 results at Dick's Sporting Goods
15/11/2006
Dick's Sporting Goods, Inc. has reported improved sales and earnings results for the third quarter ended October 28. Net income for the third quarter was $7.8 million compared with prior year net income of $0.9 million.
Net sales for the quarter increased by 22% to reach $708.3 million. Comparable store sales increased 8.9%.
Net income for the 39 weeks ended October 28 increased by 48% to $44.9 million compared with $30.3 million in the prior year. .Net sales for the period increased by 18% to $2,088 million, while comparable store sales increased 7.7%.
The company has also entered into a definitive merger agreement with Golf Galaxy. Under the terms of the agreement, each outstanding share of Golf Galaxy common stock will be converted into the right to receive $18.82 per share in cash, without interest.
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