Salt Lake Tribune
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Profits up slightly for Dick's Sporting Goods
This is an archived article that was published on sltrib.com in 2010, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Dick's Sporting Goods, which has two outlets in the Salt Lake Valley, reported that its earnings were up for both the fourth quarter 2009 and the full year.

The Pittsburgh-based company's closing period, which ended Jan. 31, produced a profit of $67.4 million, or 56 cents per share, compared with net income of $62.2 million, or 54 cents per share, in the same period a year earlier. Net sales for the quarter rose 10.7 percent, to $1.3 billion, with the Golf Galaxy division up 5.9 percent, while Dick's Sporting Goods stores were up 2.4 percent.

For the year ending Jan. 31, Dick's reported net income of $141.4 million, or $1.20 per share. In 2008, the company had net income of $134.1 million, or $1.15 per share.

Net sales in 2009 increased 6.8 percent, to $4.4 billion. Chairman and CEO Edward Stack attributed the gain to store openings and additional e-commerce sales. Increases in those two areas partially offset a comparable-store sales decrease of 1.4 percent.

The company opened 24 Dick's stores and one Golf Galaxy outlet in 2009. It has 419 Dick's stores in 40 states and 91 Golf Galaxies in 31 states. In Utah, there is a Dick's store in The Gateway in Salt Lake City and a Golf Galaxy outlet at 6148 S. State St. in Murray.

- Mike Gorrell

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