Dick’s Sporting Goods beats expectations, sets a new ‘foundation’ for the year ahead

Dick’s Sporting Goods Inc.
DKS,
-9.31%

shares jumped 4.8% in Tuesday premarket trading after reporting fourth-quarter profit and sales that beat expectations. The athletic retailer posted net income of $346.1 million, or $3.16 per share, up from $219.6 million, or $2.21 per share, last year. Adjusted EPS of $3.64 beat the FactSet consensus for $3.47. Sales of $3.352 billion were up from $3.125 billion and ahead of the FactSet consensus for $3.303 billion. Same-store sales grew 5.9%, ahead of the FactSet consensus for 4.3% growth. For full year 2022, the company is guiding for EPS of $9.96 to $11.13, adjusted EPS of $11.70 to $13.10 and same-store sales in the range of down 4% to flat. “Coming off two consecutive record years in 2020 and 2021, the Company’s fiscal 2022 outlook provides a new foundation upon which it will build in the years ahead,” Dick’s said in the release. The FactSet consensus is for EPS of $11.42 and same-store sales decline of 5.5%. Dick’s stock has run up 29.8% over the past year while the S&P 500 index
SPX,
-2.95%

is up 9.9%.