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Friedman Stroffe & Gerard, P.C.

FSG’s Action Sports Practice Group provides legal services to the action sports industry. Our clients include surfers, skiers, snowboarders and skaters, as well as sponsors and leading apparel companies. Our attorneys serve in positions with industry organizations such as the Association of Surfing Professionals. We know your business and can provide full-service legal solutions to meet your organizational needs.

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Tiffany Montgomery
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Dick's better than expected in Q3, cautious about Q4

By Tiffany Montgomery
November 19, 2009 6:07 AM

Industry customer Dick’s Sports Goods third quarter results turned out better than expected thanks to colder weather but the company is still cautious about the fourth quarter.

Dick’s bought Southern California based Chick’s Sporting Goods in 2007 and has reduced the number of action sports brands it carries.

Net sales: up 7.1% to $989.8 million

Consolidated same-store sales: up 1.9%, better than the 4% to 6% decline expected.

Net income: $18.9 million vs. $6.2 million the same period last year.

Inventories: down 8.6% vs. the third quarter last year.

Q4: Dick's remained cautious about the fourth quarter and expects same-store sales to decline 4% to 6%.

The company opened 11 new stores in the quarter and now operates 420 Dick’s stores in 40 states and 91 Golf Galaxy stores in 31 states.

 

 

 

 

 


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