Insider Trading : Mon 9/11/23

Notable purchases -- CFO & President add to FLWS; notable sales -- GC active in NPWR

Buyers:

• AVGO Director bought 11,000 shares at $872.0256 worth ~$9.6 mln.
• CECO Director bought 12,000 shares at $13.67 - $13.91 worth ~$165K.
• CODI 10% owner bought 10,000 shares at $20.18 - $20.26 worth ~$202K.
• DKS Director bought 2,200 shares at $109.99 - $110.00 worth ~$242K.
• FLWS Chief Financial Officer / SVP and the President bought a total of 55,000 shares at $6.09 - $6.34 worth ~$342K. 
• FNKO 10% owner bought 110,190 shares at $6.9587 worth ~$767K.
• SOL Chairman / 10% owner bought 119,836 shares at $3.14 - $3.32  worth ~$383K.
• TDW Director bought 1486 shares at $67.317 worth ~$100K.

Sellers:

• BBW CAO, Gen. Counsel & Secretary sold 11,582 shares at $27.37 - $27.44 worth ~$317K.
• ICUI Chief Operating Officer sold 6,850 shares at $128.54 - $129.91 worth ~$884K.
• KAI Director sold 1,200 shares at $219.7923 worth ~$264K.
• MGPI Member of 10% holder group sold 13,000 shares at $113.340 - $116.56 worth ~$1.5 mln.
• NPWR General Counsel and Secretary sold 28,606 shares at $15.00 - $15.63 worth ~$435K.

Insider Trading: notable purchases (6/3/22)

Buyers:

1. BODY CEO & Chairman bought 588,800 shares at $2.08 - $2.33 worth ~ $1.3 mln.
   
2. CVNA VP, Gen. Counsel & Sec. bought 14,000 shares at $31.02 - $31.12 worth ~ $440K.
   
3. CYH Director bought 50,000 shares at $5.00 - $5.12 worth ~ $250K.
   
4. DKS Director bought 5,000 shares at $80.99 worth ~ $400K.
   
5. FIBK CEO bought 15,899 shares at $37.20 - $37.50 worth ~ $590K.
   
6. GLP General Partner bought 33,194 shares at $29.38 - $30.00 worth ~ $990K.
   
7. HRT Director bought 106,642 shares at $14.14 - $14.87 worth ~ $1.6 mln.
   
8. IOVA Directors and Interim CEO bought 1,038,500 shares at $6.43 - $6.84 worth ~ $6.9 mln.
   
9. MRSN Director bought 95,519 shares at $3.17 - $3.30 worth ~ $310K.
   
10. NGM Director bought 153,806 shares at $13.10 - $13.50 worth ~ $2.1 mln.
    
11. NRDY CEO bought 300,000 shares at $2.63 - $2.90 worth ~ $840K.
    
12. RMBL 10% Owner bought 30,000 shares at $15.91 worth ~ $480K.
    
13. SCOR CEO & Exec. Vice Chairman bought 600,000 shares at $1.74 - $1.95 worth ~ $1.2 mln.

Sellers:

1. DINO CFO sold 100,000 shares at $50.25 worth ~ $5.0 mln.
   
2. FLYW Director sold 166,587 shares at $19.34 - $19.41 worth ~ $3.2 mln.
   
3. LAZ President sold 70,000 shares at $35.13 - $35.64 worth ~ $2.5 mln.
   
4. PBF 10% Owner sold 758,000 shares at $33.91 - $34.63 worth ~ $26.0 mln.
   
5. RES Director sold 1,250,000 shares at $9.07 - $10.05 worth ~ $11.9 mln.
   
6. VSTO CEO sold 150,000 shares at $37.42 - $39.08 worth ~ $5.8 mln

• https://finviz.com/screener.ashx?v=211&t=VSTO,BODY,CVNA,CYH,DKS,IOVA,LAZ,PBF,RES,FIBK,GLP,HRT,MRSN,NGM,NRDY,RMBL,SCOR,DINO,FLYW&ta=0&o=-averagevolume

                  

-=Dick's Sporting Goods (DKS) reported earnings on Tue 12 March 19 (b/o)

• Dick's Sporting Goods (DKS) plunged Tuesday after announcing it will to stop selling firearms at 125 stores and missing same-store sales estimates. The sports equipment retailer also guided low on profit for current fiscal year.

CORAOPOLIS, Pa. (AP) _ Dick's Sporting Goods Inc. (DKS) on Tuesday reported fiscal fourth-quarter net income of $102.6 million.

On a per-share basis, the Coraopolis, Pennsylvania-based company said it had net income of $1.07.

The results matched Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was also for earnings of $1.07 per share.

The sporting goods retailer posted revenue of $2.49 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $2.48 billion.

For the year, the company reported profit of $319.9 million, or $3.24 per share. Revenue was reported as $8.44 billion.

Dick's expects full-year earnings to be $3.15 to $3.35 per share.

Dick's shares have increased 25 percent since the beginning of the year. The stock has increased 22 percent in the last 12 months.

Earnings this week : March 11 - 15, 2019 (wk 11)

Earnings confirmed for this week

Monday (March 11)

• Morning: None
• Afternoon: ADT COUP KRO OXFD  PETQ SFIX

Tuesday (March 12)

• Morning: DKS IPI KEYW MOMO NOG 
• Afternoon: APEI CLNE COHU EVRI GH QHC NTRA  SENS SNCR SWCH  TEUM ZAGG ZTO  

Wednesday (March 13)

• Morning: DQ EXPR  LXRX  SGRY VRA
• Afternoon: APYX CLDR DOMO FSM GDS KINS MDB NNBR SFS SMTC TLRD

Thursday (March 14)

• Morning: BIOS CNNE DG ERJ GCO HUD INAP LX PPDF RDNT SND TEN UXIN
• Afternoon:  ADBE ASNA AVGO AVID DOCU HEAR HTHT JBL MRAM NDLS ORCL PVTL TERP TLYS TRQ TUSK ULTA VRAY WSC ZUMZ

Friday (March 15)

• Morning: BIOS BKE CTRN DPLO KIRK MDCA

= Dick's Sporting Goods (DKS) reported earnings on Wed 28 Nov 18 (b/o)

• Nov 28: #15

 Dick's Sporting Goods beats by $0.05, misses on revs; adjusted Q4 comps -3.9%; raises FY19 EPS guidance; reaffirms FY19 comp guidance

• Reports Q3 (Oct) earnings of $0.30 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.25; revenues fell 4.5% year/year to $1.86 bln vs the $1.88 bln S&P Capital IQ Consensus. "Adjusted for the calendar shift due to the 53rd week in 2017, which we believe is the best view of the business, consolidated same store sales decreased 3.9% on a 13-week to 13-week comparable basis. Based on an unshifted calendar, consolidated same store sales for the third quarter decreased 6.1%. Third quarter 2017 consolidated same store sales decreased 0.9%."
• Co issues upside guidance for FY19, sees EPS of $3.15-3.25 vs. $3.13 S&P Capital IQ Consensus.
• Reaffirmed Comp Guidance: Consolidated same store sales are currently expected to decline 3% to 4% on a 52-week to 52-week comparative basis, compared to a decline of 0.3% in 2017. Net capital expenditures are now expected to be approximately $165 million. In 2017, net capital expenditures were $373 million.

=Dick's Sporting Goods (DKS) reported earnings on Wed 30 May 2018 (b/o)

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.

-=Dick's Sporting Goods (DKS) reported earnings on Tue 13 March 18 (b/o)

• #15, 72

Dick's Sporting Goods beats by $0.02, misses on revs; guides FY19 EPS in-line; Q4 comps -2.0% 

• Reports Q4 (Jan) earnings of $1.22 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus of $1.20; revenues rose 6.5% year/year to $2.66 bln vs the $2.73 bln Capital IQ Consensus. Consolidated same store sales decreased 2.0% on a 13-week to 13-week comparative basis compared to the Company's guidance of a low single-digit decrease. Fourth quarter 2016 consolidated same store sales increased 5.0%.
• Co issues in-line guidance for FY19, sees EPS of $2.80-3.00 vs. $2.90 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 0.3% decrease in 2017. The Company expects to open approximately 19 new DICK'S Sporting Goods stores and relocate approximately four DICK'S Sporting Goods stores in 2018. Eight of the new stores are expected to open during the first quarter. The Company does not expect to open any new Field & Stream or Golf Galaxy stores in 2018.
• During the fourth quarter of 2017, the Company recorded a charge of $6.0 million for federal and state income taxes related to the deemed repatriation of accumulated but undistributed earnings of foreign operations, partially offset by an income tax benefit of approximately $5.3 million in connection with the estimated revaluation of deferred income tax assets and liabilities to reflect the effect of enacted changes in tax rates. As a result of the Tax Act, the Company's earnings per diluted share guidance assumes an effective tax rate of approximately 26%.

Dick's Sporting Goods On Call 

• team sports, footwear, and outdoor equipment business comped positively
  • strengths were offset by hunting and electronic categories while apparel comped flat
• comp decrease was driven by 2% decline in ticket due to promotional environment
• apparel sales growth were driven by adidas, CALIA, and Patagonia
  • offset by weakness in the Under Armour brand (cited expanded distribution and a highly promotional environment impacting UAA's sales)
• hunting remained under pressure/ business comped negative high single digits indicative of a weak overall industry demand
  • expects hunting headwinds to continue throughout 2018
  • likely be more impactful after their recently announced firearms policy changes
• says anniversary of Cubs 2016 world series was a 'significant headwind' to comps during the quarter

=Dick's Sporting Goods (DKS) reported earnings on Tue 14 Nov 17 (b/o)

Dick's Sporting Goods beats by $0.04, beats on revs; guides Q4 EPS above consensus; warns about FY18 EPS 

• Reports Q3 (Oct) adj. earnings of $0.30 per share, $0.04 better than the Capital IQ Consensus of $0.26; revenues rose 7.4% year/year to $1.94 bln vs the $1.9 bln Capital IQ Consensus. 
• Consolidated same store sales decreased 0.9%, compared to the Company's guidance of a low single-digit decrease. Third quarter 2016 consolidated same store sales increased 5.2%.
• eCommerce sales for the third quarter of 2017 increased ~16%. eCommerce penetration for the third quarter of 2017 was 10.3% of total net sales, compared to 9.6% during the third quarter of 2016. In the third quarter, the Company opened 15 new DICK'S Sporting Goods stores and six new Field & Stream stores. The Company also closed two specialty concept stores.
• "In the third quarter, we delivered earnings per diluted share and comp sales at the high end of our expectations, with continued double-digit growth in eCommerce. As expected, margins were under pressure in this highly promotional environment, but our strategy for this environment enabled us to continue to capture market share."
• Co issues upside guidance for Q4, sees EPS of $1.12-1.24 vs. $1.11 Capital IQ Consensus Estimate. Consolidated same store sales are currently expected to decline in the low single-digits in the fourth quarter of 2017, compared to an increase of 5.0% in the fourth quarter of 2016.
• "As we look to the fourth quarter, we are comfortable with our prior implied sales and earnings outlook, and believe we are well positioned to gain additional market share." Mr. Stack continued, "Looking ahead, we see tremendous opportunity in our industry as it continues to evolve. We plan to make significant investments in our business, which will have a short-term negative impact on our earnings; however, we expect these investments will pay meaningful dividends in the future. We plan to increase investments in our eCommerce business, the technology in our stores and store payroll in order to enhance the customer experience. Meaningful investments will also be made to DICK'S Team Sports HQ, and in the development and support of our private brands. Given these investments, continued gross margin pressure and ~flat comp sales, we expect earnings per diluted share to decline by as much as 20 percent in 2018." Down 20% would imply EPS of $2.38 vs. $2.83 consensus. 

=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."

Footwear retailers & Amazon

 Footwear retailers drop on the whisper of Nike selling directly on Amazon.

=Dick's Sporting Goods (DKS) reported earnings on Tue 16 May 17 (b/o)

Dick's Sporting Goods reports EPS in-line, revs in-line; guides Q2 EPS above consensus; reaffirms FY18 EPS guidance, lowers comps:

• Reports Q1 (Apr) earnings of $0.54 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.54; revenues rose 9.9% year/year to $1.83 bln vs the $1.83 bln Capital IQ Consensus.
• Comps +2.4% vs. +3-4% guidance.
• Co issues upside guidance for Q2, sees EPS of $1.02-1.07, excluding non-recurring items, vs. $0.99 Capital IQ Consensus Estimate; comps +2-3%.
• Co reaffirms guidance for FY18, sees EPS of $3.65-3.75 vs. $3.72 Capital IQ Consensus Estimate; lowers comps to +1-3% from +2-3%. 
• eCommerce sales increased 11.0%. eCommerce penetration for the first quarter of 2017 was 9.3% of total net sales, compared to 9.2% during the first quarter of 2016.
• "In the first quarter, we generated non-GAAP earnings per diluted share near the high end of our guidance. Despite a challenging retail environment, we realized growth across each of our three primary categories of hardlines, apparel and footwear, and were pleased with the performance of our newly relaunched eCommerce site," said Edward W. Stack, Chairman and Chief Executive Officer. "We remain optimistic as we drive profitable growth on our new eCommerce platform, make marked progress on our new merchandising strategy and continue to capture market share."
• As of April 29, 2017, the Company operated 691 DICK'S Sporting Goods stores in 47 states, with ~36.8 million square feet, 98 Golf Galaxy stores in 32 states, with ~2.1 million square feet, and 29 Field & Stream stores in 14 states, with ~1.4 million square feet

=Dick's Sporting Goods (DKS) reported earnings on Tue 7 March 17 (b/o)

Dick's Sporting Goods beats by $0.02, reports revs in-line; guides Q1 EPS below consensus; guides FY18 EPS below consensus; raises dividend 12% :

• Reports Q4 (Jan) earnings of $1.32 per share, excluding $0.51/share impairment/inventory write down, $0.02 better than the Capital IQ Consensus of $1.30; revenues rose 10.9% year/year to $2.48 bln vs the $2.48 bln Capital IQ Consensus.
• Consolidated same store sales increased 5.0% compared to the Company's guidance of an approximate 3 to 6% increase. Same store sales for DICK'S Sporting Goods increased 5.3%, while Golf Galaxy increased 13.2%. Fourth quarter 2015 consolidated same store sales decreased 2.5%. "We realized meaningful market share gains and saw growth across each of our three primary categories of hardlines, apparel and footwear."
• Co issues downside guidance for Q1, sees EPS of $0.50-0.55, excluding non-recurring items, vs. $0.61 Capital IQ Consensus Estimate; comps +3-4%
• Co issues downside guidance for FY18, sees EPS of $3.65-3.75, excluding non-recurring items, vs. $3.77 Capital IQ Consensus Estimate; comps +2-3%.
• eCommerce penetration for the fourth quarter of 2016 was 17.9% of total net sales, compared to 15.7% during the fourth quarter of 2015.
• In the fourth quarter, the Company opened three former TSA stores as new DICK'S Sporting Goods stores and closed three DICK'S Sporting Goods stores, 13 Golf Galaxy stores and two True Runner stores. The Company also acquired 30 Golfsmith stores, which are being converted to the Golf Galaxy brand. Ten of the 13 Golf Galaxy store closures were located in close proximity to an acquired Golfsmith store that is better positioned to serve the Company's customers. As of January 28, 2017, the Company operated 676 DICK'S Sporting Goods stores in 47 states, with ~36.0 million square feet, 91 golf specialty stores in 32 states, with ~1.9 million square feet and 27 Field & Stream stores in 13 states, with ~1.3 million square feet.
• Raises dividend 12% to $0.17/share.

=Dick's Sporting Goods (DKS) reported earnings on Tue 15 November 2016 (b/o)

Dick's Sporting Goods beats by $0.06, beats on revs; guides Q4 EPS below consensus, comps in-line; sees Golfsmith deal accretive :

• Reports Q3 (Oct) earnings of $0.48 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus of $0.42; revenues rose 10.2% year/year to $1.81 bln vs the $1.77 bln Capital IQ Consensus.
• Consolidated same store sales increased 5.2%, compared to the Company's guidance of an ~2 to 3% increase. Same store sales for DICK'S Sporting Goods increased 5.5%, while Golf Galaxy decreased 3.3%. Third quarter 2015 consolidated same store sales increased 0.4%.
• "We are very pleased with our third quarter results, which were driven by a 5.2% comp sales increase and gross margin expansion. We realized meaningful market share gains and saw growth across each of our three primary categories of hardlines, apparel and footwear, while maintaining tight control of our inventory,"
• Co issues downside guidance for Q4, sees EPS of $1.15-1.27 vs. $1.32 Capital IQ Consensus; comps +3-6% vs. ests near +4.2%.  
• "Looking ahead, we believe our assortment and marketing will help us to continue to capture displaced market share this holiday."
• eCommerce penetration for the third quarter of 2016 was 9.6% of total net sales, compared to 8.0% during the third quarter of 2015.
• The Company has determined to retain 22 of the 31 acquired The Sports Authority these leases for conversion to DICK'S Sporting Goods stores. In addition, the Company will leverage the TSA customer information it purchased in its marketing during the fourth quarter of 2016.
• On November 2, 2016, the Company completed its purchase for certain assets of Golfsmith International Holdings, Inc., including its intellectual property and rights to acquire store leases, together with inventory for 30 stores. The Company's purchase was made in connection with Golfsmith's Chapter 11 proceeding. The purchase price was ~$43 million, of which $32 million is related to inventory. Intellectual property includes the name "Golfsmith", as well as Golfsmith's domain names, owned trademarks and customer information. The Company also committed to offer employment to at least 500 current Golfsmith employees. The Company expects this transaction to be accretive to its fiscal 2017 earnings.

=====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.

Dick's Sporting Goods (DKS) reported earnings on Thur 5/19/16 (b/o)

** charts before earnings **

 

** charts after earnings **

 

The following day:

Dick's Sporting Goods beats by $0.01, reports revs in-line; guides Q2 below consensus; lowers FY17 guidance below consensus :

• Reports Q1 (Apr) earnings of $0.50 per share, $0.01 better than the Capital IQ Consensus of $0.49; revenues rose 6.1% year/year to $1.66 bln vs the $1.66 bln Capital IQ Consensus.
• Comps +0.5% vs. +0-1% guidance and +1% last year; same store sales for DICK'S Sporting Goods increased 0.4%, while Golf Galaxy increased 1.7%. First quarter 2015 consolidated same store sales increased 1.0%
• Co issues downside guidance for Q2, sees EPS of $0.62-0.72 vs. $0.78 Capital IQ Consensus; comps down 1-4% vs. ests near +0.4%
• Co issues downside guidance for FY17, sees EPS of $2.60-2.90 vs. $2.96 Capital IQ Consensus; comps -1% to +1% from +0-2%. The Company's consolidated earnings per diluted share guidance contemplates expected liquidation activity in the market. It also includes the expectation of ~$100 to 200 million of share repurchases in 2016. 
• "Given the expected near-term liquidation activity in the market, we have adjusted our guidance to contemplate this dynamic. Over the longer term, we remain confident in our ability to aggressively capture displaced market share and to strengthen our leadership position."

Dick's Sporting Goods (DKS) reported earnings Tue 17 Nov 2015 (before open)

** charts before earnings **

** charts after earnings **

 Dick's Sporting Goods misses by $0.01, misses on revs, citing warm weather; guides Q4 below consensus (lowers FY16 guidance) :

• Reports Q3 (Oct) earnings of $0.45 per share, $0.01 worse than the Capital IQ Consensus of $0.46 vs. $0.45-0.48 guidance; revenues rose 7.6% year/year to $1.64 bln vs the $1.66 bln Capital IQ Consensus.
  • Consolidated same store sales increased 0.4% vs. +1 to 3% guidance.
  • Same store sales for DICK'S Sporting Goods increased 0.7%, while Golf Galaxy decreased 2.9%. Third quarter 2014 consolidated same store sales increased 1.1%.
• Co issues downside guidance for Q4, sees EPS of $1.10-1.25 vs. $1.42 Capital IQ Consensus; comps -2% to +1% vs. ests above +1%.
  • Lowers FY16 EPS to $2.85-3.00 from $3.13-3.21; lowers comps to +0-1% from +1-3%.
• "Our positive same store sales for the quarter reflected a strong back-to-school selling season tempered by slowing trends later in the quarter. Strength in athletic footwear, accessories and athletic apparel was moderated by the impact of record warm weather in more seasonal categories."
• "As we look to the fourth quarter, we anticipate a more promotional environment."