DICK's Sporting Goods Reported Sales and Earnings Results for The Fourth Quarter

DICK'S Sporting Goods, Inc., the largest U.S. based full-line omni-channel sporting goods retailer, reported sales and earnings results for the fourth quarter and full year ended February 1, 2014.

Highlights:
-Consolidated earnings per diluted share increased 8% to $1.11 during the 13 weeks ended February 1, 2014 compared to consolidated earnings per diluted share of $1.03 during the 14 weeks ended February 2, 2013
-Consolidated same store sales for the fourth quarter increased 7.3%, adjusted for the shifted calendar
-Full year consolidated earnings per diluted share increased 6% to $2.69 during the 52 weeks ended February 1, 2014 compared to non-GAAP consolidated earnings per diluted share of $2.53 during the 53 weeks ended February 2, 2013
-Company has repurchased $255.6 million to date under its $1 billion, 5-year share repurchase program
-Fourth Quarter Results (13 weeks compared to 14 weeks last year)

The Company reported consolidated net income of $138.6 million, or $1.11 per diluted share, for the 13 weeks ended February 1, 2014 compared to the Company's expectations provided on November 19, 2013 of $1.04 to 1.07 per diluted share. For the 14 weeks ended February 2, 2013, the Company reported consolidated net income of $129.7 million, or $1.03 per diluted share, including approximately $0.03 per diluted share for the 14th week.

Net sales for the 13 weeks ended February 1, 2014 increased 7.9% to $1.9 billion compared to the 14 weeks ended February 2, 2013, or 12.5% on a 13-week to 13-week basis. Adjusted for the shifted calendar, due to the 53rd week in 2012, consolidated same store sales increased 7.3%, compared to the Company's guidance provided on November 19, 2013 of an approximate 3 to 4% increase. Fourth quarter 2012 consolidated same store sales increased 1.2%. Shifted same store sales in the fourth quarter of 2013 for DICK'S Sporting Goods increased 7.9% while Golf Galaxy decreased 11.7%.