Dick’s Sporting Goods Inc. missed estimates in the fourth quarter.
For the period ended Feb. 2, net income at the sporting goods retailer was $129.7 million, or $1.03 a share, an increase of 16.8 percent from $111.1 million, or 88 cents, a year ago.
Revenue advanced 12 percent to $1.8 billion, driven by a 1.2 percent increase in consolidated same-store sales.
Analysts were expecting to see earnings per share of $1.06 on revenue of $1.86 billion, as polled by Yahoo Finance.
“In the fourth quarter, we experienced continued momentum in athletic footwear and apparel, along with strong sales in hunting that exceeded our expectations. These increases were partially offset by lower-than-anticipated sales in outerwear and cold-weather accessories, as well as a significant decline in the fitness category,” Edward Stack, chairman and CEO of the Pittsburgh-based firm, said in a statement.
For the full year, Dick’s net income rose 10.2 percent to $290.7 million, or $2.31, from $263.9 million, or $2.10. Revenue increased 12 percent to $5.8 billion on the back of a 4.3 percent increase in comps.
Dick’s, which spent 2012 investing to develop and test retail concepts, build omnichannel capabilities and create new marketing strategies, will continue to put resources toward these efforts.
Its capital expenditure for 2013 is expected to be about $299 million. The company ended fiscal 2012 with $345 million in cash and cash equivalents.
For 2013, Dick’s predicts full-year EPS to come in between $2.84 and $2.86, driven by same-store sales increases of between 2 percent to 3 percent.