DICK’S Sporting Goods Inc (NYSE:DKS) stock fell 1.47% (As on March 12, 12:32:25 AM UTC-4, Source: Google Finance) after the company issued a disappointing outlook for this fiscal year even as it reported sales and profit that surpassed analysts’ expectations. The company has opened seven House of Sport locations and 15 DICK’S Field House locations during 2024; Plans to open approximately 16 additional House of Sport locations and approximately 18 additional DICK’S Field House locations in 2025. By the end of 2027, the company expects to have between 75 to 100 House of Sport locations across the country. The company ended the year with approximately $1.7 billion of cash and cash equivalents and no borrowings on the $1.6 billion unsecured credit facility. The year-end inventory levels increased 18% compared to last year.

DKS in the fourth quarter of FY24 has reported the adjusted earnings per share of $3.62, beating the analysts’ estimates for the adjusted earnings per share of $3.49. The company had reported the adjusted revenue of $3.89 billion in the fourth quarter of FY24, beating the analysts’ estimates for revenue of $3.77 billion. EBIT in the fourth quarter was $397.3 million or 10.2% of net sales. This compares to a non-GAAP EBIT of $427.7 million or 11.03% of net sales in Q4 of last year.

Dick’s is expecting full-year earnings per share to be between $13.80 and $14.40, short of Wall Street estimates of $14.82, according to FactSet. Meanwhile, net sales are expected to be between $13.6 billion and $13.9 billion, which is in line with the higher end of estimates of $13.88 billion. It expects comparable store sales, a key retail metric, to be between 1% to 3% in 2025. Analysts surveyed by Bloomberg had projected a 2.57% rise.

Additionally, the company has declared a quarterly dividend in the amount of $1.2125 per share on the Company’s Common Stock and Class B Common Stock. The company has authorized a new five-year share repurchase program of up to $3 billion of the Company’s common stock. The Company plans to continue to purchase under the previously announced five-year $2 billion share repurchase program, authorized on December 16, 2021, until it is exhausted or expired.

In the upcoming year, Dick’s plans to spend $1 billion on a net basis to build 16 of its 100,000-square-foot House of Sport locations. Dick’s also plans to capitalize on the rising popularity of women’s sports and the World Cup soccer matches in the US next year.