Categories AlphaGraphs, Earnings, LATEST, Retail

DICK’S Sporting Goods tops Q3 earnings estimates

DICK’S Sporting Goods Inc. (DKS) reported better-than-expected earnings for the third quarter of 2018 but revenues came in a bit shy of estimates. The stock climbed over 3% in premarket hours on Wednesday.

DICK'S Sporting Goods third quarter 2018 Earnings Infographic
DICK’S Sporting Goods Q3 2018 Earnings Infographic

Net sales dropped 4.5% to approx. $1.86 billion from the same period last year. Consolidated same-store sales, based on an unshifted calendar, fell 6.1%. After adjusting for the calendar shift due to the 53rd week in 2017, same-store sales fell 3.9%.

Net income was $37.8 million, or $0.39 per share, compared to $36.9 million, or $0.35 per share, in the prior-year period.

During the quarter, eCommerce sales, adjusted for the calendar shift due to the 53rd week in 2017, rose 16% while eCommerce penetration was approx. 12% of total net sales. The company opened six new DICK’S Sporting Goods stores, completing its store development program for this year.

As of quarter-end, the company had 732 DICK’S Sporting Goods stores in 47 states, 94 Golf Galaxy stores in 32 states, and 35 Field & Stream stores in 16 states. Total inventory grew 0.8% versus last year.

Earnings preview: Weak outlook makes Dick’s Sporting a risky bet ahead of Q3 report

For the full year of 2018, DICK’S Sporting Goods expects consolidated same-store sales to fall 3-4%. The company raised its earnings guidance for the full year and now expects reported EPS to come in the range of $3.15 to $3.25 versus the prior range of $3.02 to $3.20. The retailer expects to incur capital expenditures of approx. $165 million.

The board of directors declared a quarterly cash dividend of $0.225 per common share, payable on December 28, 2018 to shareholders of record as of December 14, 2018.


Get access to timely and accurate verbatim transcripts that are published within hours of the event.

Most Popular

Should investors worry about Micron’s (MU) weak Q4 results and guidance?

The semiconductor industry is a rapidly growing business segment that currently thrives on the digital transformation wave. The demand for memory chips and other semiconductor products increased over the years,

What has Bed Bath & Beyond (BBBY) outlined for this fiscal year?

Shares of Bed Bath & Beyond (NASDAQ: BBBY) were up on Friday, a day after the company delivered disappointing results for the second quarter of 2022. The company reported a

NKE Earnings: Highlights of Nike’s Q1 2023 results

Nike, Inc. (NYSE: NKE) has reported a decrease in net profit for the first quarter of 2023, despite a modest increase in revenues. The company's stock suffered a big loss

Add Comment
Viewing Highlight