DICKS SPORTING GOODS : MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (form 10-K)
[2023-08-11 10:35:33]
The company's senior management focuses on several key indicators to monitor the company's performance.
Please refer to Note 1 of the consolidated financial statements in item 8 "Financial Statements and Supplementary Data" of Form 10-K of this annual report for the financial statement items described here.
Operating income in fiscal 2017 increased from $ 449.9 million in fiscal 2016 to $ 477.6 million.
Operating income for fiscal 2016 decreased by $ 85.3 million from $ 535.2 million in fiscal 2015 to $ 449.9 million.
In addition to affecting the enumeration items for FY 2016 and FY 2015, the ratio of selling, general and administrative expenses to net sales increased by 98 basis points. This increase was mainly due to an increase in administrative wages, incentives for compensation and benefits, and
Compared to FY 2015, the company continues to invest in improving the shopping experience at stores, so the wage cost of the store is rising.
Our effective tax rate for fiscal 2016 was 37.3% against 37.8% in fiscal 2015. This is mainly due to a partial reversal of the valuation allowance due to realization of capital gains in FY 2016.
The company provides funds to invest in future growth, in particular store network and e-commerce business development, Omni Channel Shopping experience, and other long-term strategic investments, and through capital stocks to shareholders through share repurchases and dividends We are planning to reduce.
Cash flows from investing activities (485, 648) (550, 324) (372, 434)
Cash flows from financing activities (324, 240) (172, 876) (380, 543)
Cash equivalent 54 47 (106)
Equivalent $ (63,524) $ 45,841 $ (102,743)
Debt (see note 7) 4,570 588 1,519 1,425 1,038
Other long-term borrowings 108 91 17 - -
Note 7) 1,595 446 687 381 81
Note 8) (a) 3,731,824 612,033 1,105,992 855,915 1,157,884
Welfare (b) 4,027 4,027 - - -
14) (c) 194, 126 102, 980 71, 027 8, 035 12, 084
The notes in the above table are stated in the notes to the consolidated financial statements described in paragraph 8 of this Agreement.
We expect these commitments to be funded primarily through operating cash flows occurring during normal business processes.
We believe that the following policies are the most important for understanding decisions accompanying the preparation of consolidated financial statements.
The financial information contained in this section should be read in conjunction with the explanation and analysis of management's financial position and results of operations and the explanation and analysis of the consolidated financial statements included in our 2008 and 2009 quarterly report . According to Rule 33-9002 "Improvement of Interactive Data for Financial Reporting" by the 10 - k US Securities and Exchange Commission ("SEC"), companies are required to attach attachments 101 Type EX - 101) and you need to submit interactive data and "securities law" for records. These rules are effective for us from the interim financial statements of the second quarter 2009 submitted by us based on Form 10-Q.
Discussion and analysis of the financial position and results of operations ("MD & A") by the management below are read in conjunction with our consolidated financial statements and matters described elsewhere in Form 10-K of this annual report Please give me. As described in Note 15 to the consolidated financial statements, MD & A does not include the impact of financial statements on discontinued operations. MD & A contains statements about future prospects including risks and uncertainties. Due to certain factors, including those listed in "Risk Factors" in Section 1A, the actual results of the Company may differ materially from those described in the forward-looking statements.
An explanation of the financial performance of the company is stated in the quarterly or annual report entitled "Discussion by Management and Analysis of Financial Condition and Result