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DICK'S Sporting Goods (NYSE: DKS) reported strong first-quarter results for 2024, with net sales of $3.02 billion, a 6.2% increase year-over-year. Comparable sales grew by 5.3%, driven by higher transactions and average ticket size. Earnings per diluted share stood at $3.30, with a notable EBT margin of 11.3%. Despite a 10% decrease in net income to $275 million, the company raised its full-year guidance for 2024. Expected comparable sales growth was adjusted to 2.0%-3.0%, up from 1.0%-2.0%, and EPS guidance was increased to $13.35-$13.75. Key highlights include robust sales, increased market share, and a solid product pipeline, particularly from brand partners like Nike. However, challenges such as a higher effective tax rate and increased capital expenditures were noted.
The DICK'S Sporting Goods Foundation released its first quarterly giving report for 2024, celebrating the 10-year anniversary of the Sports Matter Program. Over the past decade, the Foundation has committed over $100 million to support more than two million youth athletes. In Q1 2024, the Foundation announced a new $2 million grant initiative, surprising 20 organizations in Boston and Pittsburgh with $10,000 each during the House of Sport grand openings. Furthermore, DICK'S partnered with Hollywood stars to donate $300,000 in grants to various youth sports programs. Notable contributions included $100,000 to Beat the Streets Cleveland and a $25,000 grant to the Pennsylvania Interscholastic Hockey League during the Pittsburgh Penguins Sports Matter night. Overall, the Foundation raised over $30,000 for the Sports Matter Program in Q1 2024.
On May 14, 2024, DICK'S Sporting Goods shared the inspiring journey of Ruperto Rojas, a former Minor League Baseball player who transitioned to a successful career at DICK'S. Drafted by the Milwaukee Brewers in 2017, Rojas began working part-time at DICK'S in Lakewood, Colorado, during the offseason. Mentored by Store Manager John Varner, Rojas climbed the ranks to become a store manager and, eventually, the community and experience director at DICK'S House of Sport in Katy, Texas, by April 2023. In his new role, Rojas combines his passion for sports and community engagement, overseeing events and developing partnerships. He credits his success to the support and mentorship received at DICK'S, emphasizing the company's team spirit and commitment to helping athletes achieve their dreams.
DSG, a DICK'S Sporting Goods' exclusive brand, and the WNBA have launched a girls' apparel collection, marking their first collaboration. The collection aims to promote women's sports, encourage youth participation, and empower young female athletes. DICK'S will bring It's Her Shot to communities nationwide to support young athletes. The collection includes tank tops, t-shirts, shorts, and a jacket with designs inspired by the WNBA's iconic orange and team colors. DSG x WNBA collection is part of DSG's giveback program that donates 1% of sales to The DICK'S Sporting Goods Foundation's Sports Matter Program.
DICK'S Sporting Goods and Nike have announced their fourth annual It's Her Shot tour, stopping in six cities across the US, featuring WNBA players and basketball figures. The events aim to empower young female athletes and promote sports participation. The tour includes practice drills, skills clinics, and product giveaways.
DICK'S Sporting Goods, listed on NYSE as DKS, has partnered with the Boston Celtics and Red Sox as their Official Sporting Goods Retail Partner. The partnership includes unique fan experiences, access to tickets, and IP rights. DICK'S House of Sport at Prudential Center offers a wide array of products and in-store experiences for athletes. Both franchises will have DICK'S House of Sport logo placements during games. The collaboration aims to provide unparalleled experiences for Boston sports fans.
DICK'S Sporting Goods, Inc. (NYSE: DKS) will release its first-quarter fiscal 2024 results on May 29th, with a conference call scheduled for 8:00 a.m. Eastern Time. The company, known for its omnichannel retail presence, aims to inspire athletes and outdoor enthusiasts through its various stores and digital platforms. DICK'S also focuses on youth sports initiatives and community support.
Maxfli, a renowned golf brand, partners with PGA TOUR player Ben Griffin for an exclusive endorsement deal. Griffin will use the Maxfli Tour X golf ball, showcasing its elite performance features. The partnership reflects Griffin's personal connection to the brand and his grandfather's influence. Priced at $39.99 per dozen, the Maxfli Tour Series offers top-tier performance without the premium cost, appealing to golf enthusiasts. Griffin's comeback story mirrors Maxfli's rise in the golf industry, emphasizing dedication and excellence.
