Market Pulse Archives

Nov. 24, 2020, 7:53 a.m. EST

Dick's Sporting Goods tops estimates as home fitness and active lifestyle trends bloom during pandemic

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Dick's Sporting Goods Inc. (DKS)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Ciara Linnane

Dick's Sporting Goods Inc. /zigman2/quotes/200566298/composite DKS +1.59% posted stronger-than-expected earnings for the third quarter, buoyed by positive trends in golf, outdoor activities, home fitness and active lifestyle during the coronavirus pandemic. The company posted net income of $177.2 million, or $1.84 a share for the quarter to Oct. 31, up from $57.6 million, or 66 cents a share, in the year-earlier period. Adjusted per-share earnings came to $2.01, well ahead of the $1.08 FactSet consensus. Sales rose 23% to $2.41 billion, also ahead of the $2.24 billion FactSet consensus. Same-store sales rose 23.2%, compared with a FactSet consensus of up 13%. E-commerce sales rose 95%, and accounted for about 21% of total sales, up from 13% in the year-earlier period. "Overall, the favorable trends in our business have continued into Q4," Lauren Hobart, president of the company said in a statement. "These strong sales results have been partially offset by warmer weather that has negatively impacted sales in important cold-weather categories. Taken together, through the first three weeks of Q4, our consolidated comp sales have increased in the high-teens." The company is not offering guidance. Shares jumped 1.7% premarket and have gained 19% in the year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.57% has gained 11%.

/zigman2/quotes/200566298/composite
US : U.S.: NYSE
$ 70.97
+1.11 +1.59%
Volume: 1.30M
March 5, 2021 2:50p
P/E Ratio
17.54
Dividend Yield
1.76%
Market Cap
$6.26 billion
Rev. per Employee
$210,354
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,827.70
+59.23 +1.57%
Volume: 2.35B
March 5, 2021 2:50p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.