Dick’s Tempers Growth Plans

Apr 16, 2015

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Dick’s Sporting Goods Inc., Coraopolis, Pa., has scaled back its plans for sales, number of stores and operating margin it originally forecast for the 2017 fiscal year.

The retailer set its 2017 sales target between $8.7 and $9 billion, which is an increase of 8%-10% of its sales in 2014, but a downgrade from a $10 billion estimate of the company made in 2013.

Dick’s expects to have between 735 and 750 stores by the end of the 2017 fiscal year, which is down from the 800 it initially expected in 2013. Operating margin is expected be between 9% and 9.5% in 2017, which is down from the 10.5% that originally was predicted.

“We continue to be excited about the profitable long-term growth opportunities of our business,” says Dick’s Chairman and CEO Edward W. Stack in a statement. “We are operating in an attractive space in which we continue to gain market share and believe there is significant runway ahead. We remain intensely focused on driving shareholder value over the next three years by investing in the long-term growth of the business, repurchasing shares and paying quarterly dividends.”

For more information, visit dickssportinggoods.com. — J.B.