Categories AlphaGraphs, Earnings, Retail
A visual representation of DICK’S Sporting Goods (DKS) Q1 2020 earnings results
Dick's is not providing an updated outlook at this time after withdrawing 2020 guidance on March 19
DICK’S Sporting Goods Inc. (NYSE: DKS) slipped to a loss in the first quarter of 2020 from a profit last year, due to the impacts from temporary store closures, expenses, teammate compensation, and safety costs, as well as inventory write-downs. The top-line fell by 30.6% year-over-year.
Same-store sales decreased by 29.5% due to temporary store closures that started on March 18 to help prevent the spread of COVID-19. The first-quarter 2019 consolidated same-store sales were flat. Through the first four weeks of the second quarter, the company’s consolidated same-store sales have decreased by only 4%.
With confidence in liquidity position and its stores re-opening, the company could turn its attention to gaining market share for the remainder of 2020 and positioning its business for profitable growth in 2021. The company’s eCommerce sales, including Curbside Contactless Pickup, were tremendous, increasing 210% since it temporarily closed stores through the end of the first quarter.
Past Performance
Most Popular
Key highlights from Abbott Laboratories (ABT) Q1 2024 earnings results
Abbott Laboratories (NYSE: ABT) reported its first quarter 2024 earnings results today. Total sales increased 2.2% year-over-year to $10 billion. Organic sales growth was 10.8%. Net earnings decreased 7% to $1.22
US Bancorp (USB) Q1 2024 Earnings: Key financials and quarterly highlights
US Bancorp (NYSE: USB) reported its first quarter 2024 earnings results today. Total net revenue decreased 6.4% year-over-year to $6.7 billion. Net income applicable to US Bancorp common shareholders decreased
UAL Earnings: United Airlines Q1 loss narrows on higher revenues; results beat
United Airlines Holdings, Inc. (NYSE: UAL) reported a narrower net loss for the first quarter of 2024, on an adjusted basis. The bottom line benefitted from an increase in revenues.