Dick’s, Emphasizing Strengths, Looks to Build on Solid Q1
Net income improved 3% to $60,085,000 from $58,195,000 for the 13 weeks ended May 5 on a 5% overall gain in sales to $1,909,719,000 against $1,825,252,000 that included a 2.5% comp decline adjusted for the calendar shift, but the results were well ahead of guidance. DKS raised its outlook for the year to EPS of $2.92-$3.12 ($305.0 mm), up from $2.80-3.00, essentially keeping its forecast for the balance of the year flat but factoring in the $0.12 per share beat in Q1. Comps for the year are forecast to be flat to a low-single-digit decline, with 19 new Dick’s stores ... Log in to view full article.