Dick's Sporting Goods (DKS) Tops Q4 EPS by 2c; Comps Up 5%

Dick's Sporting Goods (NYSE: DKS) reported Q4 EPS of $1.32, $0.02 better than the analyst estimate of $1.30. Revenue for the quarter came in at $2.5 billion versus the consensus estimate of $2.48 billion. Consolidated same store sales increased 5.0% compared to the Company\'s guidance of an approximate 3 to 6% increase. Same store sales for DICK'S Sporting Goods increased 5.3%, while Golf Galaxy increased 13.2%. Fourth quarter 2015 consolidated same store sales decreased 2.5%

GUIDANCE:

Dick's Sporting Goods sees FY2017 EPS of $3.65-$3.75, versus the consensus of $3.75.

"We are very pleased with our strong fourth quarter results, as we delivered a 17% increase in non-GAAP earnings per diluted share driven by strong comp sales 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," said Edward W. Stack, Chairman and Chief Executive Officer. \"In 2016, we capitalized on opportunities in the marketplace, and further solidified our leadership position by enhancing the shopping experience in our stores, building brand equity and successfully relaunching our eCommerce business on our own web platform."

Mr. Stack continued, "In 2017, we will continue to be aggressive and evolve our business. We will implement a new merchandising strategy aimed at rationalizing our vendor base and optimizing our assortment to deliver a more refined offering for our customers. We are in the process of reviewing our entire vendor base, which will be segmented into strategic partners and transactional vendors, with tertiary vendors being eliminated. This strategy, combined with our efforts to enhance our digital capabilities, will enable us to stay ahead of consumer trends and differentiate us from the competition."

For earnings history and earnings-related data on Dick's Sporting Goods (DKS) click here.

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