US: Dick's Sporting Goods lifts earnings guidance
US retailer Dick's Sporting Goods has raised its full-year and fourth quarter earnings and sales guidance, after better-than-expected same store sales.
During the fourth quarter, same store sales increased by around 6%, up on earlier guidance of a 3-4% increase, and a 1.2% rise in the same period of the prior year.
"Even with the cautious consumer environment and a shorter and promotional holiday season, we generated sales well above our original expectations, maintained merchandise margin levels consistent with last year and leveraged SG&A," said chairman and CEO Edward Stack.
"We enter 2014 with a robust and growing omni-channel network and exciting merchandising opportunities, which we believe will translate into double-digit earnings growth."
Dick's Sporting Goods now expects fourth-quarter earnings per share to be $1.10 to $1.11, compared to its earlier guidance of $1.04-1.07, and up on last year's $1.03.
For the full year, adjusted earnings per share are expected to be in the range of $2.68 and $2.69, up on its previous guidance of $2.62-2.65.
Same store sales are forecast to increase 1.9%, compared to its earlier expectations of flat to a 1% increase.
Dick's Sporting Goods CFO Andre Hawaux has taken on the additional role of chief operating officer....
This report analyses some of the latest developments and innovations in the global textile and clothing industry, including: anti-counterfeiting tools; antimicrobial sewing thread; apparel sizing and ...
US retailer Dick's Sporting Goods has reported third-quarter earnings at the higher end of its guidance, but continued pressures in golf and hunting hurt comparable sales....
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