EmailStory Stocks®
Archive
Last Update: 15-Nov-11 10:00 ET
Dick's Sporting Goods Tops Third Quarter Earnings Expectations
Dick's Sporting Goods (DKS $41.07 +1.49) reported third quarter earnings of $0.32 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.27.
Revenues rose 9.3% year/year to $1.18 billion versus the $1.16 billion consensus.
For the fourth quarter, the company issued earnings guidance of $0.87 to $0.89 versus $0.87 Capital IQ Consensus Estimate.
Consolidated same store sales are currently expected to be flat to an increase of 1% compared to a 9.3% increase in the fourth quarter last year. The Company opened six new Dick's Sporting Goods stores at the beginning of the fourth quarter of 2011, completing its 2011 store development program. Company declares an annual $0.50 per share dividend, payable on December 28, 2011.
"Our solid cash position and cash flow outlook enable us to continue to invest in future profitable growth opportunities, while also returning cash to our shareholders through the dividend."
Revenues rose 9.3% year/year to $1.18 billion versus the $1.16 billion consensus.
For the fourth quarter, the company issued earnings guidance of $0.87 to $0.89 versus $0.87 Capital IQ Consensus Estimate.
Consolidated same store sales are currently expected to be flat to an increase of 1% compared to a 9.3% increase in the fourth quarter last year. The Company opened six new Dick's Sporting Goods stores at the beginning of the fourth quarter of 2011, completing its 2011 store development program. Company declares an annual $0.50 per share dividend, payable on December 28, 2011.
"Our solid cash position and cash flow outlook enable us to continue to invest in future profitable growth opportunities, while also returning cash to our shareholders through the dividend."
