"In addition, Golf Galaxy delivered strong sales and earnings in their seasonally largest quarter. I would like to commend all of our team members for their efforts in driving the results for our second quarter," said Edward W. Stack, Chairman and CEO.
New Stores:
In the second quarter, the Company opened six Dick's Sporting Goods stores and two Golf Galaxy stores. The stores that opened in the second quarter are listed in a table later in the release under the heading "Store Count and Square Footage".
Year-to-Date Results:
Net income for the 26 weeks ended August 4, 2007 increased 88% to $69.6 million and earnings per diluted share increased 78% to $1.21, as compared to prior year net income of $37.1 million, or $0.68 per diluted share. The operating results of Golf Galaxy have been included in the results beginning with the February 13, 2007 date of acquisition.
Net sales increased 33% to $1,837.0 million due to a comparable store sales increase of 4.7% (or 3.1% adjusting for the shifted retail calendar, compared to a 6.9% increase year-to-date last year), the opening of new stores, and the inclusion of Golf Galaxy in this year's results.
Comparable store sales for Golf Galaxy on a proforma basis increased 4.7%, or 3.0% after adjusting for the shifted retail calendar.
Click here to view more:
Dick's Sporting Goods Inc
marketing@alchempro.com
