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.
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.
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