Proactive Investors - Dick's Sporting Goods (NYSE:DKS) has reported record full-year sales after it grew fourth-quarter comparable store sales by 5.3% as it continued to gain market share, sending its share higher.
The sporting goods retailer said net sales reached $12.4 billion for the year to January 28, 2023, up 0.6% versus full year 2021 and 41% higher than 2019. Diluted earnings per share (EPS) reached $10.78, with non-GAAP diluted EPS of $12.04.
The company increased its annual dividend to $4 per share, more than double the previous year’s payout of $1.95.
"Our 2022 results provide a strong foundation upon which we will build in 2023 and well into the future,” executive chairman Ed Stack said in a statement. “Our consistent performance and financial strength position us to increase the rate of investment in our business to fuel long-term growth opportunities and also return significant capital to shareholders. The step-change increase in our dividend clearly reflects our strong conviction in our structurally higher sales and earnings.”
Dick’s said it expects sales for the year ahead to be flat to 2% higher, with diluted EPS of $12.90 to $13.80, with an additional week this year accounting for $0.20 of EPS.
Its shares traded 9.9% higher at $145.23 shortly before noon in New York