PITTSBURGH (BRAIN) — Dick's Sporting Goods reported record full-year 2022 net sales while fourth-quarter sales grew 7.3% year-over-year.
Net sales for the year were $12.37 billion, an increase of 0.6% over the $12.29 billion reported in 2021. For the quarter that ended Jan. 28, net sales were $3.59 billion compared with $3.35 billion at the same time last year.
On March 6, the Board of Directors authorized and declared a quarterly dividend in the amount of $1 per share on the company's common stock and Class B Common Stock. The dividend is payable in cash on March 31 to stockholders of record at the close of business on March 17. The dividend represents an increase of 105% over the company's previous quarterly per share amount and is equivalent to an annualized dividend of $4 per share.
"These results and our 2023 outlook demonstrate the strength of our business as we continue to execute our multi-year transformation through focused strategies and strong execution," said Ed Stack, executive chairman. "I'd like to thank all our teammates for their hard work and unwavering dedication to our business."
Fourth-quarter net income decreased 32%, from $346 million to $236 million year-over-year, with earnings per share slipping from $3.16 to $2.16. Full-year net income was down 31%, from $1.52 million to $1.04 billion, and earnings per share for the year decreased from $13.87 to $10.78.
Dick's Sporting Goods is traded on the New York Stock Exchange under the DKS symbol. More information: DKS stock quote at NYSE.com.
