Wednesday, August 17, 2016

Dick's Sporting Goods beats expectations as store sales grow 3%

While many analysts had anticipated that Sports Authority’s liquidation would hurt many competing Dick’s stores, the problem hasn't seemed to materialize.

Expectations for Dick's this quarter were low, Retail Metrics analyst Ken Perkins said in a note to clients on Tuesday. "With one of its main competitors going out of business and selling all of its inventory at discounted prices, there was concern that Dick’s would lose business during the quarter," he said. "That did not come to fruition, as the nation’s leading sporting goods chain racked up an impressive 13 cent positive earnings surprise.”. . . more

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