Delivers 4.2% Comparable Sales Growth
Raising 2024 Comp Sales and EPS Outlook
Delivering Strong Results
During the third quarter, we achieved a 4.2% comparable sales growth, exceeding expectations and demonstrating the positive momentum in our business. Despite the anticipated unfavorable impact from the calendar shift, we delivered net sales of $3.06 billion and earnings per diluted share of $2.75.
Year-to-date, our comparable sales growth stands at 4.7%, with an EBT margin of 11.8% and earnings per diluted share of $10.43. These figures highlight our commitment to driving growth and delivering value to our shareholders.
Raising Guidance for 2024
We are pleased to announce that we are raising our full year 2024 guidance for comparable sales growth to a range of 3.6% to 4.2%, up from the previous range of 2.5% to 3.5%. Additionally, we are increasing our earnings per diluted share guidance to a range of $13.65 to 13.95, up from $13.55 to 13.90.
Our strategic investments, such as the House of Sport and DICK’S Field House concepts, are driving engagement with athletes, brand partners, and communities, positioning us for long-term growth and success.
Impact on Individuals
For customers and employees, the positive sales growth and raised outlook for 2024 indicate a strong and stable business environment. Customers can expect continued investment in innovative concepts and products, while employees can expect job security and potential growth opportunities within the company.
Impact on the World
The strong performance and raised guidance of our company have broader implications for the retail industry and the economy as a whole. As a leading retailer, our success signals confidence in consumer spending and economic growth, which can have ripple effects throughout the market.
Conclusion
Our third quarter results and raised outlook for 2024 demonstrate the resilience and agility of our business in a dynamic market. We are committed to driving growth, innovation, and value for our stakeholders, and we look forward to continuing our momentum in the future.
