DICK'S Sporting Goods reported record sales for the fourth quarter of 2024, delivering a 6.4% increase in comparable sales. For the full year, the company achieved a 5.2% growth in comparable sales, driven by higher transaction volumes and average ticket prices. Earnings per diluted share rose 15% to $14.05, compared to $12.18 in 2023.

The company opened seven House of Sport locations and 15 DICK'S Field House locations in 2024 and plans to expand further in 2025 with approximately 16 new House of Sport locations and 18 additional Field House stores. DICK'S provided guidance for 2025, expecting comparable sales growth of 1.0% to 3.0% and earnings per share between $13.80 and $14.40.

The Board of Directors authorized a 10% increase in the quarterly dividend and approved a new five-year share repurchase program of up to $3 billion.

CEO Lauren Hobart emphasized the company’s strategic investments in real estate, in-store enhancements, and digital experiences, particularly in growing its footwear segment and accelerating eCommerce operations. The company remains confident in its long-term strategy despite macroeconomic uncertainties.

DICK'S ended the year with $1.69 billion in cash and equivalents, while inventories increased 18% year-over-year. The company repurchased $268 million in shares during 2024 and increased capital expenditures by 37% to $803 million.

The company will host a conference call today at 8:00 a.m. ET to discuss these results, with a webcast available on its investor relations website.