Dick's Sporting Goods, Inc. (DKS) Misses Q1 EPS by 3c; Cuts FY14 Profit Outlook
Dick's Sporting Goods, Inc. (NYSE: DKS) reported Q1 EPS of $0.50, $0.03 worse than the analyst estimate of $0.53. Revenue for the quarter came in at $1.4 billion versus the consensus estimate of $1.46 billion.
Consolidated same store sales increased 1.5%, compared to the Company's guidance of an approximate 3 to 4% increase. First quarter 2013 consolidated same store sales decreased 3.8%, adjusted for the shifted retail calendar due to the 53rd week in 2012. Same store sales in the first quarter of 2014 for DICK'S Sporting Goods increased 2.3%, while Golf Galaxy decreased 10.4%.
Dick's Sporting Goods, Inc. sees FY2014 EPS of $2.70 - $2.85, versus prior guidance of $3.03 - $3.08 and the consensus of $3.08. Consolidated same store sales are currently expected to increase approximately 1 to 3%, compared to a 1.9% increase in fiscal 2013. This compares to the previous expectation, provided on March 11, 2014, of an approximate 3 to 4% increase.
Dick's Sporting Goods, Inc. sees Q2 2014 EPS of $0.62 - $0.67, versus the consensus of $0.82. Consolidated same store sales are currently expected to increase approximately 1 to 3% in the second quarter of 2014, as compared to a 0.4% decrease in the second quarter of 2013, adjusted for the shifted retail calendar due to the 53rd week in 2012.
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