Dicks Sporting Goods Inc - DKS STOCK NEWS

DICK'S Sporting Goods (NYSE: DKS) has announced an exclusive partnership with Team USA and LA28, becoming the Official Sporting Goods Retail Provider for the upcoming Olympic and Paralympic Games. The partnership extends through Paris 2024, Milano Cortina 2026, and LA28. As part of this collaboration, DICK'S will:

1. Provide travel and training apparel for 11 Team USA national governing bodies
2. Sell exclusive LA28-branded gear
3. Launch a new marketing campaign titled 'Big Moments' celebrating everyday sports achievements
4. Feature in NBCUniversal's coverage of the Olympic and Paralympic Games

This partnership aims to bring customers closer to the Olympic experience through in-store support, original storytelling, and social content featuring athletes and the Team USA brand.

DICK'S Sporting Goods has launched its first-ever Summer of Sport challenge, engaging over 2,100 employees in a company-wide fitness initiative. Participants aim to log at least 1,948 minutes of sports or fitness activities between Memorial Day and Labor Day, commemorating the year the company was founded. In just five weeks, nearly 1.7 million minutes were logged, with a third of participants already reaching the goal. The challenge encourages diverse activities, from swimming and hockey to running clubs and attending sporting events. It has fostered team building, family involvement, and community engagement. The initiative's success has prompted plans for its return in 2025.

DICK'S Sporting Goods Foundation celebrates a decade-long partnership with Harlem Lacrosse. Dyjae Pearson and Jordany Baltazar, once beneficiaries, now successful adults, return to honor the program. They, along with coach Joel Censer, highlight the transformative impact of Harlem Lacrosse. Pearson, now a Division 1 athlete and master's degree holder, credits his success to the program. To mark the anniversary, they presented a $100,000 Sports Matter grant and new gear to Harlem Lacrosse. The program, which has grown from 3 to 65 employees and serves 1,300 students in five major cities, aims to provide opportunities and guidance to youth.

DICK'S Sporting Goods (NYSE: DKS) reported strong first-quarter results for 2024, with net sales of $3.02 billion, a 6.2% increase year-over-year. Comparable sales grew by 5.3%, driven by higher transactions and average ticket size. Earnings per diluted share stood at $3.30, with a notable EBT margin of 11.3%. Despite a 10% decrease in net income to $275 million, the company raised its full-year guidance for 2024. Expected comparable sales growth was adjusted to 2.0%-3.0%, up from 1.0%-2.0%, and EPS guidance was increased to $13.35-$13.75. Key highlights include robust sales, increased market share, and a solid product pipeline, particularly from brand partners like Nike. However, challenges such as a higher effective tax rate and increased capital expenditures were noted.

The DICK'S Sporting Goods Foundation released its first quarterly giving report for 2024, celebrating the 10-year anniversary of the Sports Matter Program. Over the past decade, the Foundation has committed over $100 million to support more than two million youth athletes. In Q1 2024, the Foundation announced a new $2 million grant initiative, surprising 20 organizations in Boston and Pittsburgh with $10,000 each during the House of Sport grand openings. Furthermore, DICK'S partnered with Hollywood stars to donate $300,000 in grants to various youth sports programs. Notable contributions included $100,000 to Beat the Streets Cleveland and a $25,000 grant to the Pennsylvania Interscholastic Hockey League during the Pittsburgh Penguins Sports Matter night. Overall, the Foundation raised over $30,000 for the Sports Matter Program in Q1 2024.

On May 14, 2024, DICK'S Sporting Goods shared the inspiring journey of Ruperto Rojas, a former Minor League Baseball player who transitioned to a successful career at DICK'S. Drafted by the Milwaukee Brewers in 2017, Rojas began working part-time at DICK'S in Lakewood, Colorado, during the offseason. Mentored by Store Manager John Varner, Rojas climbed the ranks to become a store manager and, eventually, the community and experience director at DICK'S House of Sport in Katy, Texas, by April 2023. In his new role, Rojas combines his passion for sports and community engagement, overseeing events and developing partnerships. He credits his success to the support and mentorship received at DICK'S, emphasizing the company's team spirit and commitment to helping athletes achieve their dreams.

DSG, a DICK'S Sporting Goods' exclusive brand, and the WNBA have launched a girls' apparel collection, marking their first collaboration. The collection aims to promote women's sports, encourage youth participation, and empower young female athletes. DICK'S will bring It's Her Shot to communities nationwide to support young athletes. The collection includes tank tops, t-shirts, shorts, and a jacket with designs inspired by the WNBA's iconic orange and team colors. DSG x WNBA collection is part of DSG's giveback program that donates 1% of sales to The DICK'S Sporting Goods Foundation's Sports Matter Program.

DICK'S Sporting Goods and Nike have announced their fourth annual It's Her Shot tour, stopping in six cities across the US, featuring WNBA players and basketball figures. The events aim to empower young female athletes and promote sports participation. The tour includes practice drills, skills clinics, and product giveaways.

DICK'S Sporting Goods, listed on NYSE as DKS, has partnered with the Boston Celtics and Red Sox as their Official Sporting Goods Retail Partner. The partnership includes unique fan experiences, access to tickets, and IP rights. DICK'S House of Sport at Prudential Center offers a wide array of products and in-store experiences for athletes. Both franchises will have DICK'S House of Sport logo placements during games. The collaboration aims to provide unparalleled experiences for Boston sports fans.