Dicks Sporting Goods released its Q2 results for the 13 weeks ending August 2. Dicks is the largest sporting goods retailer in the United States, also selling a wide range of Rapala products.
The report is good; comparable sales grew by 5 percent from the previous year, and earnings remained flat year-over-year, while analysts expected earnings to decline quite significantly. For example, the MarketWatch website gave analysts’ average estimate as $3.89 per share, while the actual result was $4.37 per share. Revenue also exceeded analysts’ forecasts. A positive sign for the US market, in my opinion.
The full-year revenue forecast was raised from 1-3 percent growth to 2-3.5 percent growth, and the earnings per share forecast was raised from $13.8 - $14.4 to $13.9 - $14.5.
Link to the report: