Categories AlphaGraphs, Consumer, Earnings

DKS Earnings: DICK’S Sporting Goods Q2 sales, profit decline

DICK’S Sporting Goods, Inc. (NYSE: DKS) on Tuesday reported lower earnings and net sales for the second quarter of 2022 amid weak comparable sales performance.

Dick’s Sporting Goods Q2 2022 earnings infographic

Net sales decreased 5% year-over-year to $3.11 billion in the second quarter when consolidated same-store sales dropped 5.1%. The latest number topped Wall Street’s expectations.

Adjusted earnings declined to $3.68 per share during the three-month period from $5.08 per share a year earlier, but came in above the consensus forecast. Unadjusted profit was $318.5 million or $3.25 per share in the latest quarter, compared to $495.5 million or $4.53 per share in the second quarter of 2021.

Check this space to read management/analysts’ comments on DICK’s Sporting Goods’ Q2 earnings

“Our inventory is healthy and well-positioned, and we are excited about our assortment for the back-to-school season. We are raising our full-year 2022 outlook, which continues to incorporate an appropriate level of caution given today’s uncertain macroeconomic environment,” said Lauren Hobart, CEO of Dick’s Sporting.

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

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