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Dick's Sporting Goods Inc (DKS-0.08%) has submitted its 10-K filing for the fiscal year ended February 1, 2025.
The filing reports net sales of $13.44 billion, a 3.5% increase from the previous year, with a comparable sales increase of 5.2% on a 52-week basis. The increase is attributed to growth in footwear, athletic apparel, accessories, and hydration categories.
Cost of goods sold, including occupancy and distribution costs, was $8.62 billion, representing 64.1% of net sales, compared to 65.08% in the previous year. This decrease in cost ratio is attributed to improved merchandise margins and a decrease in inventory shrink.
The company reported a gross profit of $4.83 billion, up from $4.53 billion in the previous year, with the increase attributed to higher sales and improved merchandise margins.
Selling, general, and administrative expenses were $3.29 billion, approximately flat as a percentage of net sales compared to the previous year. The increase in expenses includes strategic investments and higher incentive compensation.
Net income for the year was $1.17 billion, compared to $1.05 billion in the previous year. The increase in net income is attributed to higher sales and improved gross profit margins.
Cash provided by operating activities was $1.31 billion, while cash used in investing and financing activities was $796.6 million and $626.1 million, respectively.
The filing also details various financial agreements, including a $1.6 billion revolving credit facility and $1.5 billion in senior notes due in 2032 and 2052.
Dick's Sporting Goods plans to continue investing in store growth, relocations, and technology enhancements, with capital expenditures expected to be approximately $1 billion in fiscal 2025.
The company declared and paid dividends totaling $4.40 per share during the fiscal year and repurchased 1.3 million shares of common stock for $268 million.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Dick's Sporting Goods Inc annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.