Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Dick's Sporting Goods Rises After Boosting Full-Year Outlook

Following the decision to sharply scale back the sale of guns, the sportswear retailer's strong results have signalled its ability to compensate.
Dick's Sporting Goods | Source: Shutterstock
By
  • Bloomberg

CORAOPOLIS, Pennsylvania — Dick's Sporting Goods Inc jumped in premarket trading after raising its full-year earnings guidance, saying its strategies and investments are paying off.

The new forecast for earnings per share is a range of $3.20 to $3.40, up from $3.15 to $3.35, the US retailer said. Analysts anticipated $3.27, on average. First-quarter earnings also topped predictions.

The strong results and improved guidance signal that Dick’s is able to compensate for the lack of gun sales, which the retailer decided to scale back sharply after last year’s school shooting in Parkland, Florida. Chief executive Ed Stack had said he was prepared to absorb a revenue hit on the move.

E-commerce was a standout last quarter, with sales up 15 percent as the total percentage of sales online ticked up. The brick-and-mortar store count was largely static, with one Golf Galaxy store opened, one Dick’s store relocated and two Dick’s stores closed.

ADVERTISEMENT

The shares gained as much as 7.7 percent in premarket trading Wednesday.

By John J. Edwards III; editors: Nick Turner, Cécile Daurat.

In This Article

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Retail
Analysis and advice from the front lines of the retail transformation.

What a Fashion Company Is Worth Today

In an era of austerity on Wall Street, apparel businesses are more likely to be valued on their profits rather than sales, which usually means lower payouts for founders and investors. That is, if they can find a buyer in the first place.


What’s the Plan at H&M?

The fast fashion giant occupies a shrinking middle ground between Shein and Zara. New CEO Daniel Ervér can lay out the path forward when the company reports quarterly results this week.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections