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A report from J.P. Morgan reiterates its Overweight rating on Dick's Sporting Goods
DKS.
The report states, “DKS reported 3Q11 operating EPS of $0.32 vs. our estimate of $0.25 and consensus of $0.26. Same-store sales were 4.2% vs. our 1.6%E (and real expectations of ~3%) with Ecommerce adding an estimated 50 bps. Gross margin increased an impressive 130 bps to 29.7%, better than our 29.2%E. Total operating expenses were well ahead of expectations, down 50 bps YOY to 23.8% vs. our 24.4%E.”
DKS closed yesterday at $39.58.
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