Dick's Sporting Goods (DKS) Tops Q2 EPS by 2c; Comps Rose 3.2%

Dick's Sporting Goods, Inc. (NYSE: DKS) reported Q2 EPS of $0.67, $0.02 better than the analyst estimate of $0.65. Revenue for the quarter came in at $1.69 billion versus the consensus estimate of $1.65 billion.

Consolidated same store sales increased 3.2%, compared to the Company's guidance of an approximate 1 to 3% increase. Same store sales for DICK'S Sporting Goods increased 4.1%, while Golf Galaxy decreased 9.3%. Second quarter 2013 consolidated same store sales decreased 0.4%, adjusted for the shifted retail calendar due to the 53rd week in 2012.

"Our second quarter results came in at the high end of our expectations," said Edward W. Stack, Chairman and CEO. "As anticipated, the golf and hunting businesses continued to experience negative comps. However, excluding these two categories, the remainder of the business delivered a 7.8% same store sales increase. We saw significant strength in several areas, including categories that have received more space within our stores, such as women's and youth athletic apparel."

Mr. Stack continued, "The headwinds in our hunting business continued in the second quarter. However, as we look at the entirety of our outdoor business, strength in other outdoor categories offset the declines in hunting, and our total outdoor comps were flat for the quarter. This gives us confidence and enthusiasm for the outdoor business as we continue to grow our Field & Stream and DICK'S stores."

Dick's Sporting Goods, Inc. sees FY2014 EPS of $2.70-$2.85, versus the consensus of $2.79. Consolidated same store sales are currently expected to increase approximately 1 to 3%, compared to a 1.9% increase in fiscal 2013.

Dick's Sporting Goods, Inc. sees Q3 2014 EPS of $0.38-$0.42, versus the consensus of $0.42. Consolidated same store sales are currently expected to increase approximately 1 to 3% in the third quarter of 2014, as compared to a 3.3% increase in the third quarter of 2013, adjusted for the shifted retail calendar due to the 53rd week in 2012.

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

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