Dick's remains “cautiously optimistic”
Dick's Sporting Goods, Inc. has posted positive sales results for the fourth quarter and year ended February 2. The results include results of Golf Galaxy and Chick's Sporting Goods from their respective acquisition dates in 2007, but not for 2006.
Net income for the 13 weeks ended February 2 increased 8% to $73.2 million compared with prior-year net income of $67.7 million. Sales for the quarter rose 18% to $1.2 billion, largely as a result of newly opened stores, the inclusion of Golf Galaxy’s sales.
For the year, net income grew 38% to $155 million compared with $112.6 million. Net sales for the year rose 25% to $3.89 billion.
"We are cautiously optimistic about our business prospects in 2008," said chairman and CEO, Edward Stack. "This year we will add approximately 46 Dick's stores, 10 Golf Galaxy stores, and will open a new distribution centre in Atlanta to support our continued growth.”
However, he added: “Even with all of these key initiatives we can't ignore the uncertain macro economic environment we are all currently facing."
