Dick's Sporting Goods (DKS) Tops Q3 EPS by 6c; Raises Outlook
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Dick's Sporting Goods (NYSE: DKS) reported Q3 EPS of $0.48, $0.06 better than the analyst estimate of $0.42. Revenue for the quarter came in at $1.87 billion versus the consensus estimate of $1.77 billion.
Net sales for the third quarter of 2016 increased 10.2% to approximately $1.8 billion. Consolidated same store sales increased 5.2%, compared to the Company's guidance of an approximate 2 to 3% increase. Same store sales for DICK'S Sporting Goods increased 5.5%, while Golf Galaxy decreased 3.3%. Third quarter 2015 consolidated same store sales increased 0.4%.
"We are very pleased with our third quarter results, which were driven by a 5.2% comp sales increase and gross margin expansion. We realized meaningful market share gains and saw growth across each of our three primary categories of hardlines, apparel and footwear, while maintaining tight control of our inventory," said Edward W. Stack, Chairman and CEO. "Looking ahead, we believe our assortment and marketing will help us to continue to capture displaced market share this holiday."
Dick's Sporting Goods sees FY2016 EPS of $2.99-$3.11, versus the consensus of $3.05.
For earnings history and earnings-related data on Dick's Sporting Goods (DKS) click here.
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