Dick's Sporting Goods beats by $0.15, beats on revs; raises FY19 EPS above consensus
- Reports Q1 (Apr) earnings of $0.59 per share, $0.15 better than the Capital IQ Consensus of $0.44; revenues rose 4.6% year/year to $1.91 bln vs the $1.88 bln Capital IQ Consensus.
- Adjusted for the calendar shift due to the 53rd week in 2017, consolidated same store sales decreased 2.5% on a 13-week to 13-week comparable basis. Based on an unshifted calendar, consolidated same store sales for the first quarter decreased 0.9%.
- Consolidated same store sales were impacted by a continued deceleration in hunt and electronics sales, as well as colder spring weather, which resulted in a delayed start to key outdoor sports and activities. First quarter 2017 consolidated same store sales increased 2.4%.
- Co issues upside guidance for FY19, sees EPS of $2.92-3.12 vs. $2.91 Capital IQ Consensus Estimate.
- Consolidated same store sales are currently expected to be in the range of approximately flat to a low single-digit decline on a 52-week to 52-week comparative basis, compared to a decline of 0.3% in 2017.
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