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.
- Low labour cost countries linked to highest risks
- Why should brands care about China cotton?
- China cotton: implications and opportunities
- COMMENT: Skills or new technology?
- UK reshoring hub hit by sweatshop claims
- South Africa to grow grass for recyclable textiles
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Sri Lanka and Bangladesh FTA talks underway
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide