(Tiper Stock Exchange) – Dick’s Sporting Goodsthe largest full-line omnichannel sporting goods retailer headquartered in the United States, closed the second quarter (ended July 29, 2023) with sales up to $3.22 billion from $3.11 billion a year earlier. L’Net income it was $244 million, or $2.82 per share, compared with $318.5 million, or $3.25 per share, for the same period a year ago.
The analysts on average, according to Refinitiv data, they expected earnings per share of $3.81 on revenues of $3.24 billion.
“We are pleased with our strong second quarter sales performance, driven by solid growth in transactions and continued gains in market share,” commented the CEO Lauren Hobart – Within the quarter, le sales accelerated significantly in July and we remain confident of delivering positive sales for 2023.”
“Although we posted another double-digit EBT margin, our second-quarter profitability fell short of our expectations due largely to theimpact of high inventory reductiona increasingly serious problem impacting many retailers,” he added. “Despite the moderation in our 2023 EPS forecast, the enthusiasm we have for our business and the confidence we have in our long-term growth opportunities have never been stronger.” .
Dick’s now predicts earnings per share in the range of $11.33 to $12.13 for the full year, versus prior forecasts of $12.90 to $13.80. It also confirmed its forecast of comparable store sales from flat to 2%, and cut planned capital expenditures.
(Photo: Elizabeth Dunne on Unsplash)