News Flash

US' Dick's Sporting Goods' net sales rise 6.2% to $3.02 bn in Q1 FY24

29 May '24

1 min read

US' Dick's Sporting Goods' net sales rise 6.2% to $3.02 bn in Q1 FY24

Pic: Refrina - stock.adobe.com

Insights

Dick's Sporting Goods reported net sales of $3.02 billion in Q1 FY24, a 6.2 per cent increase from the previous year, driven by a 5.3 per cent rise in comparable sales.
The company delivered an EBT margin of 11.3 per cent and earnings per diluted share of $3.30, reflecting 4 per cent EBT growth.
Net income for the quarter reached $275 million.

Dick's Sporting Goods, a leading US-based retailer, has net sales of $3.02 billion in the first quarter of fiscal 2024 (Q1 FY24), marking a 6.2 per cent increase compared to the same period last year. This growth was driven by a 5.3 per cent rise in comparable sales, attributed to increased transactions and a higher average ticket value.

Dick's Sporting Goods delivered double-digit earnings before taxes (EBT) margin of 11.3 per cent. The company reported earnings per diluted share of $3.30, reflecting a 4 per cent growth in EBT. Additionally, net income for the quarter reached $275 million, the company said in a press release.

"Our strong first quarter results continue to prove that Dick's is the go-to destination for sport and sport culture in the US. The product pipeline from our key brand partners and our vertical brand portfolio has never been better. We have significant momentum and are excited about the differentiated product and compelling experience we are providing," said Ed Stack, executive chairman.

Fibre2Fashion News Desk (DP)

More Dick's Sporting Goods Inc News... More Apparel/Garments News - United States Of America...