DICK'S Sporting Goods Boosts Q4, FY13 Earnings View - Quick Facts

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) said its fourth-quarter 2013 consolidated same-store sales exceeded expectations. Therefore, the firm raised its fourth-quarter and full year 2013 expectations. In addition, the company provided preliminary earnings guidance for fiscal 2014.

The company now sees consolidated earnings per share of around $1.10 - $1.11 for the fourth quarter of 2013, compared with its previous guidance of $1.04 - $1.07. On average, 29 analysts polled by Thomson Reuters expect earnings per share of $1.06 for the fourth quarter. Analysts' estimates typically exclude one-time items. Consolidated same-store sales, adjusted for the shifted calendar, due to the 53rd week in fiscal 2012, rose nearly 7%, or about 6% on an unshifted basis, in the fourth quarter of 2013. The improved outlook is due to better than anticipated fourth quarter same store sales and merchandise margin, partially offset by higher incentive compensation.

For the fiscal year ended February 1, 2014, consolidated non-GAAP earnings per share are now estimated in the range of about $2.68 - $2.69, versus its prior range of $2.62 - 2.65. Analysts anticipate annual earnings of $2.65 per share. Consolidated same-store sales, on a 52-week to 52-week comparative basis, rose approximately 1.9%, compared with guidance of about flat to an increase of 1% provided on November 19, 2013, and to a 4.3% increase in fiscal 2012.

Based on an estimated 124 million diluted shares outstanding, the company now projects reporting consolidated earnings per share of about $3.03 - 3.08 for fiscal 2014.