RTTNews | Mar 9, 2021 07:53AM EST

07:53 Tuesday, March 9, 2021 (RTTNews.com) - While reporting financial results for the fourth quarter on Tuesday, sporting goods retailer DICK'S Sporting Goods Inc. (DKS) initiated its earnings, net sales and consolidated same store sales guidance for the full-year 2021. For the fourth quarter, consolidated same store sales increased 19.3 percent.

For fiscal 2021, the company now projects earnings in a range of $3.81 to $4.55 per share and adjusted earnings in a range of $4.40 to $5.20 per share on net sales between $9.544 billion and $9.935 billion, with consolidated same store sales expected between a decline of 2 percent and an increase of 2 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $5.15 per share on net sales of $9.59 billion for the year. Analysts' estimates typically exclude special items.

The company also said it expects to open six new DICK'S Sporting Goods stores and six specialty concept stores in 2021. It expects to relocate 11 DICK'S Sporting Goods stores and convert two former Field & Stream stores into Public Lands stores in 2021.

The Company also announced plans to repurchase a minimum of $200 million of its common shares in 2021.

On March 5, the Company's Board of Directors authorized and declared a 16 percent higher quarterly dividend of $0.3625 per share on the Company's Common Stock and Class B Common Stock, payable in cash on March 26, 2021 to stockholders of record at the close of business on March 19, 2021.

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