Ahead Of DICK'S Sporting Goods' Q3 Results

(RTTNews) - DICK'S Sporting Goods Inc. (DKS) is slated to release its third-quarter results, before the bell on Tuesday, November 17. For the third quarter, the company expects earnings per share to be in the range of $0.45 - $0.48 and consolidated same store sales to increase in the range of 1% - 3%. Analysts polled by Thomson Reuters are estimating earnings of $0.47 per share on revenue of $1.64 billion.

The company expected to open about 27 new DICK'S Sporting Goods stores and relocate five DICK'S Sporting Goods stores in the third quarter of 2015. The company also expected to open seven new Field & Stream stores in the third quarter of 2015.

FY15 Guidance

For fiscal 2015, the company raised its earnings per share to a range of $3.13 - 3.21 from its previous range of $3.12 - $3.20 per share. Analysts now expect earnings of $3.19 per share. The company's earnings per share guidance contemplates the $150 million of share repurchases executed in the first quarter of 2015.

The company continues to expect consolidated same store sales to increase 1% - 3%.

The company expects to open 44 new DICK'S Sporting Goods stores and relocate seven DICK'S Sporting Goods stores in 2015. The company also expects to open nine new Field & Stream stores and relocate one Golf Galaxy store in 2015.

Q2 Results

DICK'S Sporting Goods reported second-quarter net income of $90.8 million or $0.77 per share, compared to $69.5 million, or $0.57 per share in the year ago quarter.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.75 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the latest second quarter increased 7.9% to $1.82 billion from $1.69 billion in the comparable quarter of last year. Wall Street expected revenues of $1.83 billion for the quarter.

Consolidated same store sales increased 1.2% compared to the company's guidance of approximately flat to an increase of 2%. Same store sales for DICK'S Sporting Goods increased 1.5%, while Golf Galaxy decreased 2.9%.