=====Dick's Sporting Goods (DKS) reported earnings on Tue 8/16/16 (b/o)

Dick's Sporting Goods beats by $0.13, beats on revs; guides Q3 above consensus; raises FY17 above consensus :

• Reports Q2 (Jul) earnings of $0.82 per share, $0.13 better than the Capital IQ Consensus of $0.69; revenues rose 8.0% year/year to $1.97 bln vs the $1.89 bln Capital IQ Consensus. 
• Consolidated same store sales increased 2.8%, vs. guidance of negative 4.0% to negative 1.0%.
  • Same store sales for DICK'S Sporting Goods increased 3.0%, while Golf Galaxy decreased 4.3%. Second quarter 2015 consolidated same store sales increased 1.2%.
• Co issues upside guidance for Q3, sees EPS of $0.39-0.42 vs. $0.38 Capital IQ Consensus; comps +2-3%.
• Co issues upside guidance for FY17, raises EPS to $2.90-3.05 from $2.60-2.90, excluding non-recurring items, vs. $2.84 Capital IQ Consensus; raises comps to +2-3% from down 1 to up 1%.
• "We are pleased with our second quarter results, particularly in light of the liquidation activity in the market," said Edward W. Stack, Chairman and CEO. "Looking ahead, we are focused on capturing the displaced market share and remain confident in our ability to strengthen our leadership position."
• During Q2, the Company repurchased ~1.3 million shares of its common stock at an average cost of $42.60 per share, for a total cost of $57 million.