US: Dick’s Sporting Goods ups Q4 and FY guidance
Sir David Jones is stepping down as JJB chairman
Retailer Dick’s Sporting Goods has raised its fourth quarter and full-year earnings guidance thanks to improved recent trading.
The US company now projects fourth quarter earnings per diluted share of at least US$0.54, compared to its previous estimate of $0.41-0.46 issued in November last year.
Fourth quarter comparable store sales are expected to increase by 2%, compared to a previously predicted decline of 4-6%.
For the full year, the retailer expects earnings per share of at least $1.17, up from $1.04-1.09 in its previous guidance, with comparable store sales projected to decline by 2%, better than the previously forecast fall of 3-4%.
“Beginning in the final week of November, we saw an improvement in same store sales, which continued and strengthened through the holidays,” said Edward Stack, company chairman and CEO.
Dick’s now anticipates an increase in earnings for fiscal 2010 over 2009, and will provide additional guidance in March.
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