Dick’s Sporting Goods and Kate Spade reported Q4 earnings today.
Dick’s Posts Record Earnings
Dick’s reported record earnings of $155.5 million, or $1.30 per diluted share, for the fourth quarter, ended Jan. 31, 2015.
Those earnings are a 17 percent rise over the same quarter of 2014, beating both the company’s expected earnings per diluted of $1.18 to $1.28 as well as Wall Street’s estimates of $1.22 per diluted share.
Net sales for the fourth quarter also increased 10.9 percent, to $2.16 billion, compared with sales of $1.9 billion in the same quarter last year.
For the year ended Jan. 31, 2015, the sporting-goods company reported net income of $344.2 million, or $2.84 per diluted share. Revenue for the year also rose 9.7 percent, to $6.8 billion.
Kate Spade Profits Down, Sales Up
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For the fourth quarter ended Jan. 3, 2015, Kate Spade & Co. reported an earnings decline to $126.5 million, or 99 cents a share, compared with $185.2 million, or $1.48 a diluted share, in the same quarter last year.
Net sales for the fourth quarter soared 45 percent, to $399 million, compared with revenue of $275 million during last year’s fourth quarter.
For the year ended Jan. 3, 2015, net sales increased 42 percent, to $1.139 billion. Net income for the year was $159 million, or $1.26 per diluted share, up from last year’s net income of $72 million, or 60 cents per diluted share.
The company also announced that it is expanding the Kate Spade home category. The new collections will debut between May 2015 and spring 2016 and are the result of four licensing agreements with recently signed new partners DWI Holdings, EJ Victor, Kravet and Jaipur.
The expanded home collection will include bath, bedding, fabric, wallpaper, rugs and furniture.