Wednesday, November 28, 2018

Dick’s Sporting Goods turns in mixed Q3 results as sales fall

Chain Store Age
Dick’s Sporting Goods beat profit expectations and raised its earnings outlook amid disappointing sales.

The sporting goods retailer reported that its net income rose 2% to $37.8 million in the quarter ended Nov. 3 from $36.9 million.

Net sales fell 4.5% to $1.86 billion, slightly below estimates of $1.88 billion. Same-store sales, based on an unadjusted calendar, declined 6.1%. (Adjusted for an extra week in 2017, same-store sales fell 3.9%.) . . . more