Dick's Sporting Goods jumps on lifted comparable sales outlook, Q3 results beat

November 26, 2024 11:59 PM AEDT | By Investing

Google News:

Dick's Sporting Goods jumps on lifted comparable sales outlook, Q3 results beat

Recent News

FedEx Takes Delivery of Sustainable Aviation Fuel (SAF) From Neste at...

Canada to hit NATO defense target early, Carney says

Wolfe Research downgrades Equinix on valuation concerns after strong r...

National Forest Week: How International Paper Helps Restore Longleaf E...

Investing.com -- Dick's Sporting Goods (NYSE:DKS) lifted its comparable sales growth outlook for the full fiscal 2025, sending its shares rising 7% in premarket trading Tuesday.

The chain of sporting goods stores reported earnings per share (EPS) of $2.75 for the third quarter, beating the consensus estimate of $2.67.

Revenue came in at $3.06 billion, slightly ahead of the $3.03 billion expected by analysts.

Comparable sales increased by 4.2%, also outperforming the forecasted growth of 2.5%.

The company's gross margin was 35.8%, above the projected 35.1%.

"We are very proud of our Q3 results and our performance year-to-date. Our third quarter comp sales grew 4.2%, driven by a continued focus on our strategic pillars and great execution from our team,” said Lauren Hobart, President and CEO.

“We had an excellent back-to-school season and continued to gain market share.”

For fiscal year 2025, Dick's Sporting Goods expects EPS to range between $13.65 and $13.95, compared with the consensus estimate of $13.88.

Revenue is projected between $13.2 billion and $13.3 billion, while analysts were looking for $13.25 billion.

The company has revised its guidance for comparable sales growth upward to a range of 3.6% to 4.2%, compared to its previous projection of 2.5% to 3.5%, and above the current consensus of 3.37%.

This article first appeared in Investing.com

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.