The total store count came in at 863, including three DICK'S House of Sport stores, 97 Golf Galaxy stores, seven Public Lands stores and 15 Going Going Gone! Stores, as of Apr 29, 2023. In the reported quarter, the company closed two stores, acquired 12 stores and relocated one. Shares of this Zacks Rank #3 (Hold) company have gained 5.1% year to date compared with the industry’s 2.6% growth. Also, the effective tax rate is expected to be 21%. The adjusted earnings view assumes 88 million shares outstanding as of fiscal 2023. It envisions adjusted earnings of $12.9-$13.8 per share, including 20 cents for the 53rd week. For fiscal 2023, the company expects comps to be flat to up 2% in sync with our estimate of 1.1% growth. Guidanceĭriven by the impressive quarterly results, management issued its fiscal 2023 view. DICK’S Sporting projects capital expenditure of $670-$720 million on a gross basis and $550-$600 million on a net basis for fiscal 2023. On May 22, DICK’s Sporting declared a quarterly dividend of $1 per share on common stock and class B common stock, to be payable on Jun 30 to shareholders of record at the close of business on Jun 16.Īs of Apr 29, 2023, net capital expenditure amounted to a loss of $84.5 million. It has $1.4 billion remaining under its existing share repurchase authorization. The company paid out dividends worth $105 million and repurchased 0.4 million shares for $57.7 million. Total inventory improved 7.4% year over year to $3,034.2 million as of Apr 29, 2023. Quote Financial AspectsĭICK’S Sporting ended the fiscal first quarter with cash and cash equivalents of $1,642.7 million and no borrowings under the $1.6-billion revolving credit. price-consensus-eps-surprise-chart | DICK'S Sporting Goods, Inc. Price, Consensus and EPS SurpriseĭICK'S Sporting Goods, Inc. SG&A expenses, in dollar terms, increased 12.8% to $693.9 million and came ahead of our estimate of $631.1 million.ĭICK'S Sporting Goods, Inc. In the fiscal first quarter, the SG&A expense rate of 24.4% expanded 162 bps year over year. Meanwhile, the margin contracted 28 basis points (bps) year over year to 36.2% in the fiscal first quarter. Gross profit grew 4.5% year over year to $1,028.6 million and came ahead of our estimate of $982.4 million. This was driven by a 2.7% increase in transactions and higher average tickets. The figure also came ahead of our estimate of 3.1% growth. The upside can be attributable to strong comps and healthy transaction growth.Ĭonsolidated comparable store sales (comps) grew 3.4%, up from comps decline of 8.4% in the year-ago quarter. Net sales of $2,842 million improved 5.3% year over year and surpassed the Zacks Consensus Estimate of $2,817 million. Also, adjusted earnings beat the Zacks Consensus Estimate of $3.22 per share. The company has been benefiting from the compelling assortment and structural transformation in recent years.Īdjusted earnings were $3.40 per share in the fiscal first quarter, up 19% from the prior-year figure of $2.85. ( DKS Quick Quote DKS - Free Report) jumped more than 2% following better-than-expected top and bottom lines for first-quarter fiscal 2023.
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