Dick's Sporting Goods Inc reported sales and earnings results for the fourth quarter and year ended February 2, 2008. The results include the operating results of Golf Galaxy and Chick's Sporting Goods for 2007 from their respective acquisition dates, but not for 2006 as Golf Galaxy and Chick's were acquired on February 13, 2007 and November 30, 2007, respectively.

Fourth Quarter Results (13 weeks compared to 14 weeks last year):
Net income for the 13 weeks ended February 2, 2008 increased 8% to $73.2 million and earnings per diluted share increased 3.3% to $0.62, compared to prior year net income of $67.7 million, or $0.60 per diluted share for the 14 week quarter, which provided an extra week of operations and included the favorable impact of sales of licensed merchandise relating to the Super Bowl, which combined contributed approximately $0.05 to our fiscal 2006 earnings.

The Company's most recent guidance provided on January 15, 2008 was for earnings per diluted share of at least $0.60 - 0.61. The operating results of Golf Galaxy are included in the current period results and the results for Chick's are included from its November 30, 2007 acquisition date.

Net sales for the 13 weeks increased 18% to $1,212.6 million due to the opening of new stores, the inclusion of Golf Galaxy in this year's quarterly results (which will be included in Dick's Sporting Goods comparable store sales calculation beginning in Q1 2008), and a comparable store sales increase of 2.7% on a 13-week to 13-week comparable basis (or an increase of 3.4%, adjusting for the shifted retail calendar). Comparable store sales for Golf Galaxy on a 13-week to 13-week proforma basis decreased 8.8%, or 9.8% after adjusting for the shifted retail calendar.

"We are pleased to have delivered 4th quarter sales and earnings in excess of our guidance, culminating a year in which our business generated a 30% EPS increase. We also made two acquisitions, continued to capture market share in new and existing markets, expanded our merchandise margin, and improved our operating efficiency," said Edward W. Stack, Chairman and CEO.

New Stores:
In the fourth quarter, the Company opened four Golf Galaxy stores, one each in Baltimore, MD; Fairfax, VA; Phoenix, AZ and Washington DC. In addition, Golf Galaxy closed two stores, one each in Memphis, TN and Pittsburgh, PA.

As of February 2, 2008, the Company operated 340 Dick's Sporting Goods stores in 36 states, with approximately 19.0 million square feet, 79 Golf Galaxy stores in 29 states, with approximately 1.3 million square feet, and 15 Chick's Sporting Goods stores in California, with approximately 0.8 million square feet.

Full Year Results (52 weeks compared to 53 weeks last year):
Net income for the 52 weeks ended February 2, 2008 increased 38% to $155.0 million and earnings per diluted share increased 30% to $1.33, as compared to prior year 53 week net income of $112.6 million, or $1.02 per diluted share. The operating results of Golf Galaxy and Chick's have been included in the results from their respective acquisition dates.

Net sales for the 52 weeks increased 25% to $3,888.4 million as compared to the 53 weeks ended February 3, 2007, while comparable store sales at Dick's stores on a 52-week to 52-week basis increased 2.4%, compared to a 6.0% increase last year.

The increase in sales this year was also attributable to the opening of new stores and the inclusion of Golf Galaxy and Chick's in this year's results. Comparable store sales for Golf Galaxy on a proforma basis were flat for the year.