Dick’s Sporting Goods posts drop in Q1 sales

Comparable store sales declined 8.4 percent at Dick’s Sporting Goods, while net sales of 2.7 billion dollars, down 7.5 percent against Q12021 but increased 41 percent versus the first quarter of 2019.

The company delivered earnings per diluted share of 2.47 dollars compared to 3.41 dollars and non-GAAP earnings per diluted share of 2.85 dollars compared to 3.79 dollars in the same quarter last year.

"Over the past two years, we have demonstrated our ability to adeptly manage through the pandemic and other challenges - and we are confident in our continued ability to adapt quickly and execute through uncertain macroeconomic conditions," said Lauren Hobart, the company’s president and chief executive officer.

On May 24, 2022, the company's board of directors declared a quarterly dividend in the amount of 0.4875 dollars per share payable in cash on June 24, 2022 to stockholders of record at the close of business on June 10, 2022.

For the full year, the company expects earnings per diluted share in the range of 7.95 to 10.15 dollars on GAAP basis and between 9.15 to 11.70 dollars on a non-GAAP basis. Comparable store sales are expected to remain negative between 8 percent to 2 percent.