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Investing.com — Dick’s Sporting Goods Inc (NYSE:DKS) stock jumped 5% at the open Tuesday after it reported fourth quarter earnings before the bell, beating analyst forecasts.
The Coraopolis, Pennsylvania-based retail firm, reported earnings per share of $3.64, above forecasts of $3.47. Revenue came in at $3.35 billion, above the $3.3 billion consensus estimate. Same-store sales for the fourth quarter of 2021 increased 5.9%.
Furthermore, the company delivered a record-setting 2021, with net sales of $12.29 billion and 26.5% growth in consolidated same-store sales. In addition, it announced a quarterly dividend of $0.4875 per share, an increase of 11%.
The company’s 2021 gains were in part fuelled by purchases made during the pandemic.
Looking ahead, DKS sees adjusted earnings per share between $11.70 to 13.10.
“We are extremely pleased that our team delivered the largest sales quarter in our company’s history,” said Lauren Hobart, President and CEO.
He further added, “Our diverse category and brand portfolio, world-class omni-channel platform and strong execution continue to help us meet robust consumer demand. We are a growth company with a strong balance sheet and incredible momentum and confidence in our business. Our 2022 sales and earnings outlook establishes a new foundation for us to build on in the future.”
