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Dick's Sees Slight Comp Growth

PITTSBURGH-The sporting goods retailer Q4 same-store sales were up 1.1%.

By Dees Stribling | Updated on March 07, 2005

PITTSBURGH-Dick’s Sporting Goods Inc., which bought competitor Galyan’s in the summer of 2004, posted a 1.1% comp-store increase in its fourth fiscal quarter (ended Jan. 29). Net income for the company came in at $43.4 million, compared to net income of $26 million for the quarter ended January 31, 2004.

For the entire fiscal year 2004, Dick’s turned in a comp-store sales increase of 2.6%. Total sales for the year ended Jan. 29 increased 43% to about $2.1 billion. The former Galyan’s stores, which figured into the company’s fourth quarter numbers, will not be included in the annual comp-store base until 13 months after the end of the re-branding and re-merchandising effort, which will probably be by the end of the first half of 2005.

“Certain product lines did very well during the quarter,” said Edward W. Stack, chairman and CEO of the retailer, during Monday’s earnings conference call. “Such as golf, athletic footware and apparel, and licensed products, especially NFL products. These were partially offset by weaker sales in other categories, especially winter outerwear, snow sports boots and inline skates.”

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