10-K annual report · filed Mar 25, 2016

Dick's Sporting Goods Inc (DKS) FY2016 10-K Annual Report

Short answer

Dick's Sporting Goods Inc (DKS) filed its fiscal 2016 10-K annual report with the SEC on Mar 25, 2016.

  • Top risk flagged: Firearms sales exposure: ATF and state-law compliance failures could trigger lawsuits, fines, and liability

Dick's Sporting Goods Inc FY2016 10-K analysis

AI summary of each section, grounded in the filing text

Business Overview

  • Omni-channel sporting goods retailer, combining specialty-format stores, private brands, services and eCommerce
  • Fiscal 2016 emphasis: approximately nine additional Field & Stream locations planned
  • Strategic shift toward digital marketing and integrated online-store capabilities, including eCommerce platform transition
  • eCommerce represented approximately 10% of total net sales in fiscal 2015
  • Leadership refresh: new COO, CFO and Chief Marketing Officer appointed during 2015

Management Discussion & Analysis

  • Revenue $7,271.0M, up 7% YoY, with same-store sales down 0.2%
  • Gross margin 30.02% vs 30.62%; operating margin 7.36% vs 8.13%
  • Best segment: Dick’s same-store sales up 0.1%; worst: Golf Galaxy down 5.6%
  • Operating cash flow $643.5M; buybacks $357.3M, dividends $64.7M, investing cash use $372.4M
  • Outlook: operating cash flows and credit availability sufficient through fiscal 2016; risks include warm weather, promotions and inventory obsolescence

Risk Factors

  • Firearms sales exposure: ATF and state-law compliance failures could trigger lawsuits, fines, and liability
  • Foreign sourcing exposure: China, Taiwan, and South Korea imports vulnerable to duties, port constraints, and currency swings
  • Supplier concentration: Nike and Under Armour represented approximately 20% and 12% of merchandise purchases
  • Digital disruption: internal www.DICKS.com platform launch planned for early 2017, with implementation-delay risk
  • Key-person dependency: Edward W. Stack has operated the Company since 1984 and controls voting power with relatives

Generated from the filing text; verify against the original. How to read a 10-K

Other Dick's Sporting Goods Inc annual reports

Ask about this 10-K

Compare years, dig into a risk factor or check the numbers against insider trades and fund holders.