DICK’S Sporting Goods Inc (NYSE:DKS) stock rose 1.91% (As on March 8, 11:11:31 AM UTC-4, Source: Google Finance) after the company reported holiday-quarter results that beat Wall Street’s expectations, citing a sales boost from the gift-giving season even with inflation-weary consumers. Same-store sales increased 5.3% during the fiscal fourth quarter, more than double analysts’ estimates of 2.1%, according to StreetAccount. The sporting good retailer’s performance has remained resilient in the face of an inflationary macroenvironment and industrywide inventory struggles and even amid shaky consumer demand across the sector, its shoppers continued buying. Footwear, athletic apparel and team sports products were the primary drivers of performance in the fourth quarter and the full year, the company said. It explained that its size and scale of reach remained appealing to vendors, even as they pare down their distribution partners. That means that Dick’s can price up popular products like Nike’s Jordan shoes, Hoka running shoes and Brooks sneakers. The company posted net income of $236 million, about 32% lower than the $346 million it reported a year earlier.

DKS in the fourth quarter of FY 22 has reported the adjusted earnings per share of $2.93, beating the analysts’ estimates for the adjusted earnings per share of $2.88, based on a survey of analysts by Refinitiv. The company had reported the adjusted revenue of $3.6 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $3.45 billion.

Additionally, the company has increased annualized dividend to $4.00 per share, an increase of 105% compared to $1.95 per share in 2022 and has declared quarterly dividend of $1.00 per share

For full year, the company It anticipates full-year earnings per share between $12.90 and $13.80, up from $10.78 per share for fiscal 2022. Analysts polled by Refinitiv had expected fiscal 2023 EPS of $12. It expects same-store sales growth for the fiscal year to be flat to up 2%. Dick’s launched the first three “House of Sport” stores in 2021 and is planning to expand that portfolio with nine new stores in 2023 and another 10 slated to open in 2024. Most of its capital expenditures in the coming year will go toward expanding Dick’s “House of Sport,” its experiential chain of storefronts that feature rock-climbing walls, batting cages and golf putting greens.