Market Overview

Shares of Dicks up 7% Pre-Market: Company Reports 7% Comps in Q4, Raised Outlook

Related DKS
Athleisure Wear Fad A Rapidly Growing, But Crowded Space
Markets Mostly Higher Despite Initial Negative Reaction From FOMC Minutes
Dick's Cuts PGA Coaches as Golf Sales Shrink (Fox Business)

Shares of Dicks Sporting Goods (NYSE: DKS) are up 7% in pre-market trading following better than expected fourth quarter same-store sales and increased guidance.

In a press release on Monday, Dicks reported that fourth quarter 2013 shifted consolidated same store sales increased approximately 7% versus guidance of a 3-4% gain. Due to better than anticipated same store sales and merchandise margin, the company raised its outlook. Dicks increased fourth quarter EPS guidance from $1.04-$1.07 to $1.10-$1.11, versus the analyst estimate of $1.06. Full year 2014 consolidate earnings per diluted shares are expected to be with $3.03 to $3.08.

In the press release, Edward W. Stack, Chairman and Chief Executive Officer commented, “Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A. We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth.”

Look out for movement in shares of Big 5 Sporting Goods (NASDAQ: BGFV), Cabelas (NYSE: CAB), and Hibbett Sports (NASADQ: HIBB).

Shares of Dicks Sporting Goods closed at $51.10 on Friday.

Posted-In: Earnings News Guidance Management

 

Related Articles (BGFV + CAB)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters