CALIA Inspire features LYCRA® ADAPTIV fiber, a new-to-market fabric technology PITTSBURGH, Jan. 22, 2024 /PRNewswire/ -- Today, CALIA, the women's performance wear brand sold exclusively at DICK'S Sporting Goods (NYSE: DKS), debuted a new national ad campaign titled, "CALIA Inspire: There's Beauty In The Burn" in support of the brand's most versatile and technically designed fabric and apparel collection to date – Inspire. The Inspire collection can take you from a low-intensity yoga session to high-intensi ...

EXTREME-PHOTOGRAPHER Summary I am recommending buying DICK'S Sporting Goods, Inc. (NYSE:DKS), as the business is well positioned to navigate the current macro environment and has room for margin to further expand. DKS's historical financial performance and track record of capital returns also lend credence to its ability to tide through this tough period. I expect the revenue growth trajectory to follow a similar fashion to what happened during subprime, where DKS saw growth acceleration. Business descripti ...

DICK'S Sporting Goods, Inc. (DKS) is well-poised to tap the positive trends in the sporting industry, thanks to its robust strategies including merchandising initiatives and store-related efforts. The company is gaining from brand strength and demand for its products that resonate well with customers. Undoubtedly, management is focused on creating a trend-right merchandise assortment, deepening relations with customers via marketing and efficiently controlling expenses.Buoyed by such strengths, shares of th ...

Dick's Sporting Goods Executive Chairman Ed Stack defended the company's decision to tighten its gun policies in 2018 even after facing strong backlash.  Stack spoke candidly at NRF 2024: Retail's Big Show in New York City on Monday, saying he firmly believed it is important for the sporting goods retailer, in certain issues, "to really step up and make a statement."During a discussion with NRF CEO Matt Shay, Stack said the country is "holding businesses accountable for how they view different issues in the ...

Dick's Sporting Goods Inc (NYSE:DKS) stock is trading flat today, down just 0.1% at $146.80, despite a price-target hike from D.A. Davidson to $183 from $166. Up 40.9% in just the last three months thanks to support from its 20-day moving average, the retail stock has almost fully recovered its mid-August 24.2% plummet. The stock's rebound could still have legs, too, as its recent highs come amid historically low implied volatility (IV), which has been a bullish combination in the past. Per Schaeffer's Quan ...

DICK’S Sporting Goods, Inc. (NYSE:DKS) Q3 2023 Earnings Conference Call November 21, 2023 10:00 AM ET Company Participants Nate Gilch - Senior Director, IR Lauren Hobart - President and CEO Navdeep Gupta - CFO Conference Call Participants Simeon Gutman - Morgan Stanley Robby Ohmes - Bank of America Kate McShane - Goldman Sachs Mike Baker - D.A. Davidson Warren Cheng - Evercore ISI Christopher Horvers - JP Morgan Michael Lasser - UBS Paul Kearney - Barclays John Kernan - TD Cowen Joe Feldman - Telsey Advisor ...

Sales Performance - Net sales increased by 41.3% in fiscal 2022 compared to fiscal 2019, driven by growth in key categories such as footwear, athletic apparel, team sports, and golf [48]. - Net sales increased by 2.8% to $3.04 billion in the current quarter from $2.96 billion in the same quarter of 2022, driven by a 1.7% increase in comparable store sales [17]. - Comparable store sales increased by 1.7% in the current quarter, down from a 6.5% increase in the same period last year [61]. Profitability and Margins - Merchandise margins increased over 300 basis points as a percentage of net sales in fiscal 2022 compared to fiscal 2019, with pre-tax income as a percentage of net sales growing from 4.7% to 11.2% [49]. - Gross profit increased to $1.06 billion, with a gross profit margin improvement of 67 basis points due to lower supply chain costs [64]. - Selling, general and administrative expenses rose to $776.0 million, increasing as a percentage of net sales by 254 basis points, influenced by business optimization charges and investments in talent and technology [65]. Expenses and Charges - Pre-tax business optimization charges of $52.5 million were incurred in Q3 2023, primarily due to the elimination of positions and integration of Moosejaw operations [53]. - The company anticipates additional pre-tax charges of approximately $10 million during Q4 2023 related to outdoor specialty business optimization [53]. - Selling, general and administrative expenses are expected to moderate by approximately 150 basis points from Q3 as a percentage of net sales [52]. Store Operations - Comparable store sales, including online sales, are considered a key performance indicator, impacting total net sales and cash flow [55]. - The company opened 10 new stores in Q3 2023, bringing the total to 869 stores by the end of the period [57]. Inventory and Supply Chain - Inventory shrink is expected to be approximately 50 basis points higher than fiscal 2022 on a full-year basis, reflecting industry-wide trends [52]. - Supply chain costs are expected to remain lower than fiscal 2022 for the remainder of the fiscal year [52]. Shareholder Returns - The company repurchased 3.5 million shares of common stock for a total cost of $388.1 million under its share repurchase program [17]. - During the 39 weeks ended October 28, 2023, the company repurchased 5.4 million shares at a cost of $648.6 million, leaving $779.6 million remaining under the share repurchase program [86]. - Dividends paid to stockholders during the 39 weeks ended October 28, 2023, amounted to $270.6 million, with a quarterly cash dividend of $1.00 per share declared for December 2023 [88]. Cash Flow and Capital Expenditures - Cash flows from operating activities increased by $729.1 million to $764.7 million for the 39 weeks ended October 28, 2023, compared to the prior year [92]. - Cash used in investing activities rose by $140.4 million to $433.3 million, including investments in DICK'S House of Sport stores and the acquisition of Moosejaw [93]. - Capital expenditures for the 39 weeks ended October 28, 2023, totaled $409.5 million, with expectations for fiscal 2023 capital expenditures between $550 million and $600 million [84][85]. Interest and Tax - Interest expense decreased to $14.4 million in the current quarter from $26.1 million in the prior year quarter, primarily due to lower interest expense on the Convertible Senior Notes following their retirement [67]. - The effective tax rate increased to 25.1% in the current quarter from 24.9% in the prior year quarter [69]. - Other income increased by $67.9 million to $56.3 million, driven by a $44.8 million rise in interest income and a $22.8 million reduction in deferred compensation plan expenses [76]. - The effective tax rate decreased to 18.7% from 24.1%, influenced by a $39.8 million increase in excess tax benefits due to higher employee equity awards [77]. Financial Position - Cash on hand as of October 28, 2023, was $1.41 billion, with an additional $1.6 billion available under the unsecured credit facility [78]. - Liabilities associated with supply chain financing arrangements were $38.9 million as of October 28, 2023, down from $56.1 million a year earlier [90].

DICK'S Sporting Goods, Inc. (NYSE:DKS) Q2 2023 Earnings Conference Call August 22, 2023 10:00 AM ET Company Participants Lauren Hobart - President & CEO Navdeep Gupta - CFO Nate Gilch - Senior Director, IR Conference Call Participants Simeon Gutman - Morgan Stanley Adrienne Yih - Barclays Robby Ohmes - Bank of America Kate McShane - Goldman Sachs Chris Horvers - J.P. Morgan John Kernan - TD Cowen Warren Cheng - Evercore ISI Michael Lasser - UBS Brian Nagel - Oppenheimer Paul Lejuez - Citi Mike Baker - D.A. ...

[PART I. FINANCIAL INFORMATION](index=3&type=section&id=PART%20I.%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited consolidated financial statements for the 13 and 26 weeks ended July 29, 2023, highlighting a quarterly net income decrease and the full retirement of Convertible Senior Notes [Consolidated Statements of Income](index=3&type=section&id=Consolidated%20Statements%20of%20Income) Net sales increased for both the 13 and 26-week periods ended July 29, 2023, while net income and diluted EPS for the 13-week period decreased year-over-year Consolidated Statements of Income (13 and 26 Weeks Ended) | Metric (in thousands, except per share data) | 13 Weeks Ended July 29, 2023 | 13 Weeks Ended July 30, 2022 | 26 Weeks Ended July 29, 2023 | 26 Weeks Ended July 30, 2022 | | :--- | :--- | :--- | :--- | :--- | | **Net sales** | $3,223,643 | $3,112,419 | $6,065,823 | $5,812,624 | | **Gross Profit** | $1,109,476 | $1,121,382 | $2,138,092 | $2,106,096 | | **Income from Operations** | $311,759 | $460,178 | $637,382 | $826,699 | | **Net Income** | $244,331 | $318,502 | $548,980 | $579,061 | | **Diluted EPS** | $2.82 | $3.25 | $6.23 | $5.70 | [Consolidated Balance Sheets](index=5&type=section&id=Consolidated%20Balance%20Sheets) As of July 29, 2023, total assets and stockholders' equity increased, while total liabilities and inventories decreased year-over-year Consolidated Balance Sheet Highlights (in thousands) | Metric | July 29, 2023 (in thousands) | July 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Cash and cash equivalents** | $1,901,903 | $1,895,521 | | **Inventories, net** | $2,851,366 | $2,995,963 | | **Total Assets** | $9,357,364 | $9,065,275 | | **Total Liabilities** | $6,712,903 | $6,891,766 | | **Total Stockholders' Equity** | $2,644,361 | $2,173,509 | [Consolidated Statements of Cash Flows](index=8&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash provided by operating activities significantly increased for the 26 weeks ended July 29, 2023, despite net cash used in investing and financing activities Cash Flow Summary (26 Weeks Ended, in thousands) | Activity | July 29, 2023 (in thousands) | July 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $693,493 | $101,744 | | **Net cash used in investing activities** | ($268,779) | ($171,012) | | **Net cash used in financing activities** | ($447,172) | ($678,413) | | **Net decrease in cash and cash equivalents** | ($22,483) | ($747,684) | [Notes to Unaudited Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Consolidated%20Financial%20Statements) Key disclosures include the full retirement of Convertible Senior Notes, a lower effective tax rate, and subsequent events like a dividend declaration and a business optimization plan - The company is a leading omni-channel sporting goods retailer operating stores like DICK'S Sporting Goods, Golf Galaxy, Public Lands, and Moosejaw[22](index=22&type=chunk) - On April 18, 2023, the company retired the remaining **$59.1 million** of its Convertible Senior Notes, resulting in no outstanding notes[37](index=37&type=chunk) - The effective tax rate for the 26 weeks ended July 29, 2023, was **16.1%**, down from **23.7%** in the prior year, favorably impacted by a **$48.0 million** increase in excess tax benefits from employee equity awards[40](index=40&type=chunk) - Subsequent to the quarter's end, the company announced a business optimization plan, eliminating certain positions and expecting to incur approximately **$20 million** in severance expense in Q3 2023[42](index=42&type=chunk) - A quarterly cash dividend of **$1.00 per share** was declared on August 21, 2023, payable on September 29, 2023[41](index=41&type=chunk) [Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations](index=13&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses Q2 2023 financial performance, noting increased net sales but decreased profitability due to lower gross margins and higher inventory shrink, alongside details on a business optimization plan and capital activities [Overview and Business Environment](index=15&type=section&id=Overview%20and%20Business%20Environment) The company's business has transformed with higher sales and profitability, but faces macroeconomic uncertainty, anticipating higher inventory shrink and SG&A expenses for the remainder of 2023 - The company believes lasting lifestyle changes prioritizing health and fitness have increased demand for its products, leading to structurally higher sales[50](index=50&type=chunk) - Key trends affecting 2023 include higher markdowns on excess product, higher inventory shrink expected to be approximately **50 basis points** higher than fiscal 2022, lower supply chain costs, and SG&A expenses expected to be over **200 basis points** higher than fiscal 2022 due to strategic investments[54](index=54&type=chunk) [Business Optimization](index=16&type=section&id=Business%20Optimization) The company is implementing a business optimization plan to streamline its cost structure, expecting to incur approximately **$20 million** in severance expense in Q3 2023, with potential additional charges - A business optimization plan was initiated to streamline the cost structure, resulting in the elimination of certain positions[55](index=55&type=chunk) - The company expects to incur approximately **$20 million** of severance expense in Q3 2023, with potential additional charges of **$25 million to $50 million** to complete the optimization[55](index=55&type=chunk)[56](index=56&type=chunk) [Results of Operations](index=17&type=section&id=Results%20of%20Operations) Q2 2023 saw net sales increase by **3.6%** and comparable store sales by **1.8%**, but gross profit margin declined due to higher markdowns and inventory shrink, leading to decreased income from operations Q2 2023 vs Q2 2022 Performance | Metric | Q2 2023 | Q2 2022 | | :--- | :--- | :--- | | **Net Sales** | $3.22B (+3.6%) | $3.11B | | **Comparable Store Sales** | +1.8% | -5.1% | | **Gross Profit Margin** | 34.42% | 36.03% | | **Income from Operations** | $311.8M | $460.2M | | **Net Income** | $244.3M | $318.5M | - The **1.8%** increase in comparable store sales was driven by a **2.8%** increase in transactions, partially offset by a **1.0%** decrease in sales per transaction[65](index=65&type=chunk) - Gross profit margin decreased by **161 basis points**, primarily due to a **254 basis point** decline in merchandise margin from higher markdowns and an **84 basis point** increase in inventory shrink[67](index=67&type=chunk) - SG&A expenses increased by **$118.2 million**, driven by investments in hourly wage rates and talent (**$51.5 million**), marketing (**$25.6 million**), and deferred compensation plan value changes (**$20.9 million**)[68](index=68&type=chunk) [Liquidity and Capital Resources](index=21&type=section&id=Liquidity%20and%20Capital%20Resources) As of July 29, 2023, the company maintained strong liquidity with **$1.90 billion** in cash, projecting **$550 million to $600 million** in capital expenditures for fiscal 2023, while repurchasing shares and paying dividends - The company has **$1.90 billion** in cash on hand and **$1.58 billion** available under its revolving credit facility[82](index=82&type=chunk)[85](index=85&type=chunk) - Fiscal 2023 capital expenditures are expected to be in the range of **$550 million to $600 million**, net of tenant allowances, focused on new stores (including DICK'S House of Sport), remodels, and technology[89](index=89&type=chunk) - In the first 26 weeks of 2023, the company repurchased **2.0 million shares** for **$260.4 million** and paid **$189.1 million** in dividends[90](index=90&type=chunk)[92](index=92&type=chunk) Cash Flow Summary (26 Weeks Ended, in thousands) | Activity | July 29, 2023 (in thousands) | July 30, 2022 (in thousands) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $693,493 | $101,744 | | **Net cash used in investing activities** | ($268,779) | ($171,012) | | **Net cash used in financing activities** | ($447,172) | ($678,413) | [Item 3. Quantitative and Qualitative Disclosures About Market Risk](index=23&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in the company's market risk exposures have occurred since the Annual Report on Form 10-K for the year ended January 28, 2023 - There have been no material changes in the Company's market risk exposures from those reported in the 2022 Annual Report[99](index=99&type=chunk) [Item 4. Controls and Procedures](index=23&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded the company's disclosure controls and procedures were effective as of July 29, 2023, with no material changes to internal controls during Q2 2023 - Management concluded that the Company's disclosure controls and procedures were effective as of July 29, 2023[101](index=101&type=chunk) - No changes in internal controls over financial reporting occurred during the second quarter that materially affected or are likely to materially affect them[100](index=100&type=chunk) [PART II. OTHER INFORMATION](index=24&type=section&id=PART%20II.%20OTHER%20INFORMATION) [Item 1. Legal Proceedings](index=24&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, none of which are expected to have a material adverse effect on its financial position or operations - The Company does not expect that any ongoing legal proceedings will have a material adverse effect on its financial position or results of operations[104](index=104&type=chunk) [Item 1A. Risk Factors](index=24&type=section&id=Item%201A.%20Risk%20Factors) A material risk factor is elevated inventory shrink due to theft, including organized retail crime, which has adversely affected and could continue to affect financial results - A key risk factor is the company's inability to protect against inventory shrink, experiencing elevated levels of inventory loss from damage and theft, including organized retail crime[106](index=106&type=chunk) - This elevated inventory shrink has adversely affected, and could continue to adversely affect, the company's results of operations and financial condition[106](index=106&type=chunk) [Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](index=24&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's Q2 2023 common stock repurchases, totaling **1,585,901 shares** at an average price of **$129.28 per share**, with **$1.17 billion** remaining for future repurchases Share Repurchases in Q2 2023 | Period | Total Shares Purchased | Average Price Paid Per Share | | :--- | :--- | :--- | | Apr 30 - May 27, 2023 | 1,066,917 | $129.30 | | May 28 - Jul 1, 2023 | 513,561 | $129.26 | | Jul 2 - Jul 29, 2023 | 5,423 | $128.80 | | **Total** | **1,585,901** | **$129.28** | - As of July 29, 2023, **$1.17 billion** remained available for purchase under the company's share repurchase program[107](index=107&type=chunk) [Item 5. Other Information](index=24&type=section&id=Item%205.%20Other%20Information) No directors or officers adopted, modified, or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter ended July 29, 2023 - No directors or officers adopted, modified, or terminated a Rule 10b5-1 or non-Rule 10b5-1 trading arrangement during the quarter[108](index=108&type=chunk) [Item 6. Exhibits](index=25&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed as part of the Quarterly Report on Form 10-Q, including CEO and CFO certifications and XBRL data files

DICK'S Sporting Goods, Inc. (NYSE:DKS) Q1 2023 Earnings Conference Call May 23, 2023 10:00 AM ET Company Participants Nate Gilch - Senior Director of Investor Relations Lauren Hobart - President and Chief Executive Officer Navdeep Gupta - Chief Financial Officer Conference Call Participants Simeon Gutman - Morgan Stanley Adrienne Yih - Barclays Robby Ohmes - Bank of America Warren Cheng - Evercore ISI Brian Nagel - Oppenheimer Kate McShane - Goldman Sachs Isabel Thompson - UBS Mike Baker - D.A. Davidson Joh ...