Excellent Q3 Drives Dick's Sporting Goods 20% Higher Tuesday Morning
Shares of Dick's Sporting Goods, Inc. (NYSE: DKS), a leading omnichannel sporting-goods retailer offering apparel, footwear, and sporting equipment, jumped over 20% early Tuesday morning after the company released better-than-expected third-quarter results.
The athletic-apparel retailer reported third-quarter sales of $1.96 billion, up from the prior year's $1.86 billion and ahead of analyst estimates calling for $1.92 billion. On the bottom line, Dick's reported adjusted earnings per share of $0.52, easily topping analyst estimates of $0.38 per share.
Same-store sales were also a bright spot during the third quarter, rising 6% higher, helping the company reach its best result since 2013 and well above analyst estimates of 2.9% growth. Part of the driving force behind the strong third-quarter results was an increase in average ticket and transactions and strong growth in the company's three primary categories of apparel, footwear, and hardlines.
Source Fool.com
