Sat. Nov 16th, 2019

Dick’s Sporting Goods stock jumps 11% after earnings beat

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Dick’s Sporting Goods Inc.

DKS, +1.85%

stock jumped 11.6% in Thursday premarket trading after the athletic retailer reported earnings and sales that beat expectations. Net income was $112.5 million, or $1.26 per share, compared with $119.4 million, or $1.20 per share, for the same period last year. Sales totaled $2.26 billion, up from $2.18 billion last year. The FactSet consensus was for EPS of $1.21 and sales of $2.21 billion. Same-store sales rose 3.2%, which the company said was the strongest showing since 2016. FactSet guided for a 0.9% same-store sales increase. For the year, Dick’s expects EPS of $3.30 to $3.45, which includes a tariff impact and a same-store sales increase in the low single-digits. FactSet is guiding for EPS of $3.32 and same-store sales growth of 1.2%. Dick’s stock is down 12.4% for the past year while the S&P 500 index

SPX, +0.82%

is up 2.2% for the period.

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