US: Dick's Sporting Goods ups view as Q3 profit jumps 21%
- Q3 net income surged 21% to $50.1m from $40.2m
- Net sales rose 11.2% to $1.3bn
- Consolidated same store sales up 5.1%
Retailer Dick's Sporting Goods Inc has raised its full-year earnings forecast after booking a 21% jump in third quarter profit.
The company, which claims to be the largest US-based full-line sporting goods retailer, lifted its full-year earnings per share outlook to $2.53 to $2.55, with same-store sales seen rising about 5%.
For the fourth quarter, it raised the lower end of earnings forecasts to a range of $1.03 to $1.05 on same-store sales growth of about 4%. This compares to earlier guidance of $1.01 to 1.05 per share.
"We generated record results in the third quarter, exceeding our original sales and earnings expectations," said chairman and CEO Edward Stack.
"By growing our store base, partnering with our brands, aggressively building out our omni-channel capabilities and executing our strategic marketing plan, we are driving continued profitable growth."
Same-store sales in the three months to 27 October rose 5.1%, with gains of 3.9% at Dick's Sporting Goods stores, 2.3% at Golf Galaxy and a 46.7% in the eCommerce business.
The company operates 511 Dick's Sporting Goods stores and 81 Golf Galaxy stores.
Sportswear retailer Dick's Sporting Goods has appointed Andre Hawaux as its chief financial officer and executive vice president of finance and administration....
Senior executives from across the apparel industry and its supply chain will be heading to Hong Kong later this month for the annual Prime Source Forum....
Retailer Dick's Sporting Goods today (11 March) posted a 16.8% increase in fourth-quarter profit, helped by rising sales in its online business - but admitted it lost out on sales of cold-weather clot...
- VF Corp confirms interest in Africa sourcing
- Euro decline weighs on Turkish clothing industry
- G-Star RAW pushes the boundaries of denim
- Will Amazon take over the US apparel market?
- US groups seek workable apparel provisions in TPP
- Metallised thread for "revolutionary" RFID tag
- Manufacturing in China falls to 15-month low
- UK retailers to answer over human trafficking
- VF Corp ups guidance on "strong" Q2
- LF Corp to streamline planning and sourcing
- Ethiopia – the emerging textile and clothing industry
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Management briefing: Factory safety and auditing: The key challenges
- Global market review of workwear - forecasts to 2019
- Sustainable Textiles for Apparel: Fact, Fiction and Future Prospects