=Dick's Sporting Goods (DKS) reported earnings on Tue 15 Aug 17 (b/o)

Dick's Sporting Goods misses by $0.04, reports revs in-line; guides Q3 below consensus; lowers FY18 well below consensus

• Reports Q2 (Jul) earnings of $0.96 per share, excluding non-recurring items, $0.04 worse thanthe Capital IQ Consensus of $1.00; revenues rose 9.6% year/year to $2.16 bln vs the $2.16 bln Capital IQ Consensus. 
• Comps +0.1% vs. +2-3% guidance. eCommerce sales for the second quarter of 2017 increased ~19%. eCommerce penetration for the second quarter of 2017 was 9.2% of total net sales, compared to 8.5% during the second quarter of 2016. In the second quarter, the Company opened 13 new DICK'S Sporting Goods stores.
• Co issues downside guidancefor Q3, sees EPS of $0.22-0.30, excluding non-recurring items, vs. $0.55 Capital IQ Consensus Estimate; comps down low-single digits.
• Co issues downside guidancefor FY18, sees EPS of $2.85-3.05, excluding non-recurring items, vs. $3.62 Capital IQ Consensus Estimate; lowers comps to flat to low-single digit decline from +1-3% vs. +1.5% ests.
• "In this very competitive and dynamic marketplace, we were able to deliver a significant increase in our bottom line from last year. We continued to capture market share and generated strong results in eCommerce, footwear and golf, although sales were pressured by weakness in hunting, licensed and athletic apparel," said Edward W. Stack, Chairman and Chief Executive Officer. "By design, we will be more promotional and increase our marketing efforts for the remainder of the year, as we will aggressively protect our market share. We have updated our outlook to reflect these investments. We continue to believe retail disruption creates opportunities for us as we look long-term."