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Article Date: March 2018
Word Count: 926

Dick’s Net Gains but Outlook for 2018 is Modest

Net income was $115,951,000 for the 14 weeks ended Feb. 3 compared to $90,188,000 for the 13 weeks last year as sales rose 7% to $2,664,122,000 compared to $2,483,433,000 but adjusted for the extra week comps fell 2.0% in the period. This year’s results included an $11,478,000 charge for the increased loyalty program costs and a $6,592,000 contingency for litigation compared to last year’s results that had a $43,379,000 inventory charge reflecting the decision to concentrate its business on fewer brands, $40,528,000 in impairment charges and $6,011,000 in store conversion costs for Sports Atrocity and Golfsmith. Adjusted net was off ... Log in to view full article.


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