Categories Consumer, Earnings

Dick’s Sporting Goods beats Q1 EPS estimate by 3 cents

DICK’S Sporting Goods Inc. (NYSE: DKS) Wednesday reported Q1 earnings and revenue that surpassed street expectations, sending the stock up over 6% during pre-market hours.

Net sales edged up 0.6% to $1.92 billion, slightly above analysts’ estimate of $1.90 billion, even as consolidated same-store sales remained flat year-over-year.

dick's sporting goods earnings results
Picture for representation (Image by PublicDomainPictures from Pixabay)

Adjusted net income rose to 62 cents per share from 59 cents per share a year ago, also surpassing the street projection of 59 cents per share.

CEO Edward Stack said, “We were pleased with our start to 2019, delivering higher merchandise margins and first quarter earnings per diluted share above last year. Same-store sales turned positive in March and remained positive in April, as we started to see the benefits of our key strategies and investments.”

dick's sporting goods Q1 2019 earnings infographic

READ: AMERICAN AIRLINES STOCK HITS A  3-YEAR LOW, YET RISKS GALORE

eCommerce sales rose 15% during the quarter while eCommerce penetration was approx. 13% of total net sales.

Outlook

For the full year 2019, Dick’s currently projects EPS to be approximately $3.20 to 3.40. Consolidated same-store sales are currently expected to be slightly positive to an increase of 2%, compared to a 3.1% decrease in 2018.

DICK’S sales have fallen over the past two quarters and the company has been seeing weakness in its hunting segment, mainly due to government restrictions on firearm sales. The retailer has been slowly removing hunting goods from its stores and replacing them with other products.

Comparable sales have also shown a declining trend for the past several quarters. During the fourth quarter earnings announcement, the company had expressed optimism that it would return to positive comp sales in the second quarter of 2019.

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference and much more!

Most Popular

Walmart (WMT) stock research summary | Q3 2021

Walmart (WMT) is a major retailer with a strong presence in the US and international markets. The company offers a wide range of products through its stores and digital channels.

MDB Stock: Is it the right time to invest in MongoDB?

The ongoing information technology boom has spurred the need for effective tools for database management, and enterprises are turning to technology companies like MongoDB Inc. (NASDAQ: MDB) to integrate their

After strong Q3, Thermo Fisher (TMO) expects to end FY21 on a high note

The shares of Thermo Fisher Scientific Inc. (NYSE: TMO), a leading provider of analytical instruments and software, climbed to a record high this week, extending the positive momentum that came

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top