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Forumer storico
Nov. 16, 2010, 10:50 a.m. EST
Dick's Sporting Goods (DKS) shares jumped 9% to $32.61 after the Pittsburgh retailer raised its full-year outlook and comparable store-sale forecasts. Dick's expects to earn between $1.56 and $1.58 a share, excluding an 8-cent hit from Golf Galaxy store closures. Its old forecast was for a profit in the range of $1.46 to $1.48 a share. Dick's said same-store sales will grow as much as 5.5%, compared to 5%. For the year, Dick's shares are up 31%.
Outlook boosts Dick's Sporting Goods - MarketWatch
Tue Nov 16, 2010 11:13am EST
* Q3 Adj EPS $0.22 tops Wall Street view by 5 cents * Q3 rev up 9 pct at $1.08 bln, exceeds expectations * Sees Q4 EPS $0.69-$0.71 vs est $0.67
* Shares jump 11 pct, among top NYSE gainers (Recasts, adds details, analyst comments, updates shares)
BANGALORE, Nov 16 (Reuters) - Dick's Sporting Goods Inc's (DKS.N) forecast a strong fourth-quarter profit, signalling improved consumer spending on sporting gear going into the holiday season, lifting its shares to their highest in more than two-and-a-half years.
The largest publicly traded sporting goods retailer, which posted third-quarter results that beat Wall Street estimates, is witnessing strong demand for its products, which includes athletic footwear, gear and apparel under many well-known brands such as Nike, Adidas and Under Armour.
Demand for jerseys, caps, and other items with sports logos has been strong this year and teams and leagues across the United States expect that streak to continue into the holiday season even as U.S. unemployment remains high.
Sterne, Agee & Leach analyst Sam Poser said the company's projections are more likely a reflection of easy comparisons with last year rather than improving consumer trends.
"Remember how shitty things were last year. Well...they're not so shitty now," Poser said.
On Nov. 2, Sidney, Nebraska-based rival Cabela's Inc (CAB.N), which sells equipment for outdoor activities like hunting, fishing and camping, also posted quarterly profit above estimates as sales at its core retail division rose, after a six-month lull. [ID:nSGE6A00M6]
Stephens Inc analyst Rick Nelson said the holiday quarter forecast could be conservative given Dick's Sporting's history of being modest with its outlook and the retailer could do even better than it has outlined.
Pittsburgh-based Dick's Sporting, which operates 437 namesake stores spread across 42 states, projected a profit of 69 cents to 71 cents per share for the fourth quarter.
This compares with analysts' average earnings estimate of 67 cents a share, according to Thomson Reuters I/B/E/S.
The company expects fourth-quarter same-store sales to rise 3 to 4 percent.
For the August-October quarter, Dick's Sporting earned $16.9 million, or 14 cents a share, compared with $18.9 million, or 16 cents a share, a year earlier.
Excluding special items, Dick's Sporting earned 22 cents a share, topping estimates of 17 cents a share, for the quarter.
Sales rose 9 percent to $1.08 billion, exceeding estimates of $1.04 billion. Sales at stores open at least a year rose 5.1 percent.
Dick's Sporting shares, which have gained 8 percent in value since the company's second-quarter results in August, jumped 11 percent to $33.19,
UPDATE 2-Dick's sees robust holiday quarter on improving sales | Reuters
DICK'S SPORTING GOODS INC (DKS:US): Stock Quote & Company Profile - BusinessWeek
http://it.babelfish.yahoo.com/
Dick's Sporting Goods (DKS) shares jumped 9% to $32.61 after the Pittsburgh retailer raised its full-year outlook and comparable store-sale forecasts. Dick's expects to earn between $1.56 and $1.58 a share, excluding an 8-cent hit from Golf Galaxy store closures. Its old forecast was for a profit in the range of $1.46 to $1.48 a share. Dick's said same-store sales will grow as much as 5.5%, compared to 5%. For the year, Dick's shares are up 31%.
Outlook boosts Dick's Sporting Goods - MarketWatch
Tue Nov 16, 2010 11:13am EST
* Q3 Adj EPS $0.22 tops Wall Street view by 5 cents * Q3 rev up 9 pct at $1.08 bln, exceeds expectations * Sees Q4 EPS $0.69-$0.71 vs est $0.67
* Shares jump 11 pct, among top NYSE gainers (Recasts, adds details, analyst comments, updates shares)
BANGALORE, Nov 16 (Reuters) - Dick's Sporting Goods Inc's (DKS.N) forecast a strong fourth-quarter profit, signalling improved consumer spending on sporting gear going into the holiday season, lifting its shares to their highest in more than two-and-a-half years.
The largest publicly traded sporting goods retailer, which posted third-quarter results that beat Wall Street estimates, is witnessing strong demand for its products, which includes athletic footwear, gear and apparel under many well-known brands such as Nike, Adidas and Under Armour.
Demand for jerseys, caps, and other items with sports logos has been strong this year and teams and leagues across the United States expect that streak to continue into the holiday season even as U.S. unemployment remains high.
Sterne, Agee & Leach analyst Sam Poser said the company's projections are more likely a reflection of easy comparisons with last year rather than improving consumer trends.
"Remember how shitty things were last year. Well...they're not so shitty now," Poser said.
On Nov. 2, Sidney, Nebraska-based rival Cabela's Inc (CAB.N), which sells equipment for outdoor activities like hunting, fishing and camping, also posted quarterly profit above estimates as sales at its core retail division rose, after a six-month lull. [ID:nSGE6A00M6]
Stephens Inc analyst Rick Nelson said the holiday quarter forecast could be conservative given Dick's Sporting's history of being modest with its outlook and the retailer could do even better than it has outlined.
Pittsburgh-based Dick's Sporting, which operates 437 namesake stores spread across 42 states, projected a profit of 69 cents to 71 cents per share for the fourth quarter.
This compares with analysts' average earnings estimate of 67 cents a share, according to Thomson Reuters I/B/E/S.
The company expects fourth-quarter same-store sales to rise 3 to 4 percent.
For the August-October quarter, Dick's Sporting earned $16.9 million, or 14 cents a share, compared with $18.9 million, or 16 cents a share, a year earlier.
Excluding special items, Dick's Sporting earned 22 cents a share, topping estimates of 17 cents a share, for the quarter.
Sales rose 9 percent to $1.08 billion, exceeding estimates of $1.04 billion. Sales at stores open at least a year rose 5.1 percent.
Dick's Sporting shares, which have gained 8 percent in value since the company's second-quarter results in August, jumped 11 percent to $33.19,
UPDATE 2-Dick's sees robust holiday quarter on improving sales | Reuters
DICK'S SPORTING GOODS INC (DKS:US): Stock Quote & Company Profile - BusinessWeek
http://it.babelfish.yahoo.com/
