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Citi Reports In Line 1Q For Dick's Sporting Goods


According to Citi, Dick's Sporting Goods (NYSE: DKS) will host a call at 10am ET 5/17.

Citi said that DKS reported EPS of $0.30 vs. its $0.30, street's $0.29, guidance of $0.26-$0.28 with difference vs. its CIRA ests based on better SG&A (+3c on +4.2% vs. its +6.5%) and gross margin (+1c on +82bps vs. its +55bps) offset by worse sales and (-4c, +2.1% comp vs. its +4-6% estimate). “Although we acknowledge that 1Q sales were below expectations (mgt attributes to adverse weather), we believe execution remains intact on a solid athletic apparel trends, continued footwear innovation and momentum, a change in store mix to team sports away from some fitness and new ideas in the golf category. We believe DKS is on-track to meet +LSD full year comp expectations. We think stock performance on 5/16 (~stock down -3.7%) could yield a somewhat neutral performance today and weakness could be a buying opportunity given encouraging raised guidance, our view of continued product innovation, and attractive and unique sq. ft. growth profile.”

Dick's Sporting Goods closed yesterday at $40.69.

Posted-In: Citi Dick's Sporting Goods IncAnalyst Color Analyst Ratings


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