Dicks Follows Retail Trend, Beats Estimates And Raises Guidance

Dicks Sporting Goods Inc DKS released its Q2 results before market open on Tuesday. Earnings per share came in above Wall Street consensus expectations, sending shares higher.

Dicks Sporting Goods reported EPS of $0.82 and revenues of $2 billion. Analyst consensus had an EPS estimate of $0.69 and revenues of $1.88 billion.

Additionally, same-store sales increased 2.8 percent during Q2.

Dicks Sporting Goods saw FY16 EPS at $2.90-$3.05 vs. estimates of $2.84 and Q3 EPS of $0.39-$0.42 vs. estimates of $0.38. Company management expected FY16 comparable same store sales to be up 2-3 percent.

"We are pleased with our second quarter results, particularly in light of the liquidation activity in the market," said Edward Stack, Chairman and CEO. "Looking ahead, we are focused on capturing the displaced market share and remain confident in our ability to strengthen our leadership position."

At time of writing, Dicks Sporting Goods traded at $58 in Tuesday's pre-market session, up 56 percent.