Dick’s Sporting Goods reported higher revenue and profit for the fourth quarter 2011, eeking out a 0.1 percent gain in same-store sales despite a decline in winter related equipment and apparel.
Consumers took advantage of the warm winter to golf rather than ski, as the Pittsburgh-based sporting goods, outdoor and fitness retail chain saw a 9-percent rise in same-store sales at its Golf Galaxy business, helping offset a 2.5-percent decline in same-store sales at its Dick’s stores. The latter was led by a drop in sales of cold weather related products, officials said.
Including its new stores added, Dick’s Sporting Goods’ fourth-quarter sales rose 6.1 percent to $1.6 billion, and its quarterly net income came in at $111.1 million, or 88 cents per diluted share, compared to a net income of $87.5 million, or 71 cents per diluted share, a year ago.
Dick’s officials said they are bullish for spring, forecasting same-store to rise by 3 to 4 percent in the first quarter 2012, compared to a 2.1 percent increase during the same period a year ago.
The outlook was a bit more positive than those of fellow retail chains Big 5 Sporting Goods and Sports Chalet, which both recently forecasted weaker starts to 2012 due to lingering effects of the weak winter.