According to J.P. Morgan, Dick's Sporting Goods DKS impressive margin expansion softens the sales miss.
J.P. Morgan said that despite the weaker than expected top line DKS delivered a solid operating performance as expense leverage was the strongest it has been in two years. “We believe there is more to come on this front as Dick's anniversaries stores and systems investments and we expect this to mitigate earnings risk on solid but decelerated sales trends.”
Dick's Sporting Goods closed yesterday at $39.42.
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Posted In: Analyst ColorAnalyst RatingsConsumer Discretionarydick's sporting goodsJ.P. MorganSpecialty Stores
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