PITTSBURGH - DICK'S Sporting Goods (NYSE:DKS) is set to hire approximately 8,000 seasonal employees across its stores nationwide, the company announced on Thursday. The recruitment initiative will commence with the company's seventh annual "National Signing Day" event scheduled for October 8, 2024.
The hiring spree is aimed at bolstering the workforce for the forthcoming holiday season, a period known for high consumer demand. Julie Lodge-Jarrett, EVP, Chief People & Purpose Officer at DICK'S Sporting Goods, emphasized the importance of seasonal teammates in providing exceptional in-store experiences during the holidays.
The company, which has been recognized for its workplace culture, including consecutive placements on FORTUNE's Best Place to Work in Retail list and certifications as a Great Place to Work, offers competitive pay and benefits to its employees. These include an option for DailyPay and an associate discount ranging from 25-40%.
DICK'S Sporting Goods is seeking individuals who are passionate about sports and customer service. Prospective applicants are encouraged to apply online and then attend the National Signing Day event for interviews and to meet current team members. The hiring process will continue until all positions are filled.
In alignment with its commitment to employees' well-being, DICK'S will close all its stores and distribution centers on Thanksgiving Day, November 28, 2024, allowing staff to spend the holiday with their families. Customers will still be able to make online purchases on Thanksgiving, with physical stores reopening on Black Friday.
The company has observed a decline in seasonal hiring needs due to a decrease in teammate turnover since 2021. DICK'S Sporting Goods operates over 850 stores under various banners and has been a longstanding advocate for youth sports through its Foundation.
This hiring initiative reflects the company's ongoing efforts to support its operations and provide employment opportunities across its retail locations. The information for this article is based on a press release statement from DICK'S Sporting Goods.
In other recent news, Dick's Sporting Goods (NYSE:DKS) has seen a flurry of activity from financial analysts following robust Q2 results. Truist Securities maintained a Buy rating on the company, despite a slight adjustment in financial projections for the retailer, including a modest reduction in the second half non-comparable sales expectations for the fiscal year 2024. Meanwhile, TD Cowen held a Buy rating on the company, expressing confidence in its growth potential for FY25, despite a conservative outlook for the second half of the year.
Loop Capital maintained a Hold rating but increased the price target to $220 in light of strong Q2 results. Baird also held its Neutral rating, acknowledging the company's strong performance but noting a modest increase in the FY24 EPS forecast. Williams Trading reaffirmed its Buy rating, expressing confidence in the company's future growth.
BofA Securities increased its price target to $250, maintaining a Buy rating, following the company's surpassing of Q2 earnings expectations. The company reported its second consecutive quarter of mid-single-digit percentage growth in comparable sales, a substantial earnings beat, and an increase in profitability year-over-year. These strong financial results led to an upward revision of the full-year 2024 guidance.
Notably, the company's earnings per share (EPS) rose 55% year-over-year to $4.37, surpassing estimates, and sales increased by 7.8% to nearly $3.5 billion. These recent developments underscore the company's robust performance and potential for future growth.
InvestingPro Insights
As DICK'S Sporting Goods gears up for its seasonal hiring push, investors might find additional context in the company's financial metrics. According to InvestingPro data, DICK'S boasts a market capitalization of $16.71 billion, reflecting its significant presence in the sporting goods retail sector. The company's P/E ratio of 14.48 suggests a relatively attractive valuation compared to its earnings, which could be of interest to value-oriented investors considering the stock ahead of the holiday season.
InvestingPro Tips highlight that DICK'S has maintained dividend payments for 14 consecutive years, demonstrating a commitment to shareholder returns that aligns with its stable business model. This could be particularly reassuring for investors as the company prepares for increased holiday demand. Additionally, the company's strong return over the last year, with a remarkable 101.37% price total return, indicates robust performance that may support its ability to attract and retain seasonal workers in a competitive labor market.
It's worth noting that while DICK'S is ramping up for the holiday season, it's doing so from a position of financial strength. The company's revenue for the last twelve months stands at $13.41 billion, with a healthy revenue growth of 6.25%. This growth, coupled with a gross profit margin of 35.63%, suggests that DICK'S has the financial flexibility to invest in its workforce without compromising profitability.
For those interested in a deeper dive into DICK'S Sporting Goods' financial health and prospects, InvestingPro offers 12 additional tips, providing a more comprehensive analysis for informed investment decisions.
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