Dick's Sporting Goods Trades Higher On Q2 Earnings, Guidance Raise

Dick's Sporting Goods DKS reported second-quarter earnings of $1.20 per share, which met the analyst consensus estimate. This is unchanged from the same period last year.

The company reported quarterly sales of $2.259 billion, which beat the analyst consensus estimate of $2.21 billion by 2.22%. This is a 3.77% increase over sales of $2.177 billion the same period last year.

Dick's Sporting Goods raised fiscal year 2019 EPS guidance from $3.20-3.40 to $3.30-3.45 versus the $3.31 analyst estimate.

"Our strong comp sales performance was driven by increases in both average ticket and transactions and represented our strongest quarterly comp since 2016,” said said CEO Edward Stack. “We saw growth across each of our three primary categories of hardlines, apparel and footwear, our brick-and-mortar stores comped positively and our eCommerce channel remained strong, increasing 21%. Our key strategies and investments are working, our major headwinds are behind us and we've bent the curve on sales.”

Dick's Sporting Goods shares were trading up 12.9% at $37.25 in Thursday’s pre-market session. The stock has a 52-week high of $41.21 and a 52-week low of $29.69.

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