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Dick’s Sporting Goods Q4 sales are a hit out of the park

Adobe Stock

March 7, 2023

Dick's Sporting Goods same-store sales spiked 5.3% as the sporting goods retailer beat analysts' projections regarding its Q4 earnings and revenue which included holiday shopping activity.

Analysts had expected same-store sales of 2.1%, according to a CNBC report.

Shareholders were happy with the news as shares jumped about 7% after the announcement.

Net income was $236 million lower than $346 million the same time in 2022 but net sales hit $3.6 billion compared to 2022's Q4 of $3.4 billion.

"As planned, we continued to address targeted inventory overages, and as a result our inventory is in great shape as we start 2023," CEO Lauren Hobart said in the earnings release.