Free Post Earnings Research Report: Dick’s Sporting Goods’ Sales Jumped 4.6% and EPS Advanced 13%

LONDON, UK / ACCESSWIRE / June 27, 2018 / If you want access to our free earnings report on Dick’s Sporting Goods, Inc. (NYSE: DKS) (“DKS”), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DKS. The Company reported its first quarter fiscal 2018 operating and financial results on May 30, 2018. The sporting goods retailer outperformed top- and bottom-line expectations. Additionally, the Company raised its earnings guidance for FY18. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dick’s Sporting Goods most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=DKS

Earnings Highlights and Summary

For the first quarter of the fiscal year 2018, DKS’ net sales increased 4.6% to approximately $1.91 billion compared to $1.83 billion in Q1 2017. The Company’s revenue numbers beat analysts’ estimates of $1.88 billion.

Adjusted for the calendar shift due to the 53rd week in 2017, DKS’ consolidated same store sales decreased 2.5% on a 13-week to 13-week comparable basis. Based on an un-shifted calendar, the Company’s consolidated same store sales decreased 0.9% in the reported quarter. The Company’s consolidated same store sales were impacted by a continued deceleration in hunt and electronics sales, as well as a colder spring weather, which resulted in a delayed start to key outdoor sports and activities.

DKS reported a consolidated net income of $60.1 million, or $0.59 per diluted share, in Q1 2018 compared to $58.2 million, or $0.52 per diluted share, in Q1 2017. The Company’s earnings were better than Wall Street’s estimates of $0.42 per share.

Omni-Channel Development

Adjusted for the calendar shift due to the 53rd week in 2017, DKS’ ecommerce sales surged 24% on a y-o-y basis in Q1 2018. The Company’s ecommerce penetration was approximately 11% of total net sales in the reported quarter compared to approximately 9% during the year earlier same quarter.

During Q1 2018, DKS opened 8 new DICK’S Sporting Goods stores. As of May 05, 2018, the Company operated 724 DICK’S Sporting Goods stores in 47 states, with approximately 38.4 million square feet; 94 Golf Galaxy stores in 32 states, with approximately 2.0 million square feet; and 35 Field & Stream stores in 16 states, with approximately 1.7 million square feet.

Balance Sheet

As of May 05, 2018, DKS had cash and cash equivalents of approximately $105 million, and approximately $280 million in outstanding borrowings under its revolving credit facility. Over the course of the past 12 months, the Company returned over $446 million to shareholders through share repurchases and quarterly dividends.

At the end of Q1 2018, DKS’ total inventory decreased 3.8% compared to Q1 2017.

During Q1 2018, DKS repurchased approximately 3.3 million shares of its common stock at an average cost of $32.33 per share, for a total cost of $107.9 million. The Company has approximately $650 million remaining under its authorization that extends through 2021.

Outlook

For the full fiscal year 2018, DKS is forecasting earnings per share (EPS) to be in the range of $2.92 to 3.12 compared to the previous guidance of $2.80 to 3.00. The Company had reported GAAP and non-GAAP EPS of $3.01 for the 53 weeks ended February 03, 2018.

For FY18, DKS’ consolidated same-store sales are expected to be in the band of approximately flat to a low single-digit decline on a 52-week to 52-week comparative basis.

For FY18, DKS is expected to open 19 new DICK’S Sporting Goods stores and relocate 4 DICK’S Sporting Goods stores. The Company does not expect to open any new Field & Stream or Golf Galaxy stores in 2018.

Stock Performance Snapshot

June 26, 2018 – At Tuesday’s closing bell, Dick’s Sporting Goods’ stock rose 1.26%, ending the trading session at $36.21.

Volume traded for the day: 1.66 million shares.

Stock performance in the last month – up 19.19%; previous three-month period – up 5.97%; past six-month period – up 22.04%; and year-to-date – up 25.99%

After yesterday’s close, Dick’s Sporting Goods’ market cap was at $3.78 billion.

Price to Earnings (P/E) ratio was at 11.73.

The stock has a dividend yield of 2.49%.

The stock is part of the Services sector, categorized under the Sporting Goods Stores industry. This sector was up 0.3% at the end of the session.

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