Dick's Sporting Goods Posts $5.16 Billion Q1 Revenue as Adjusted EPS Misses by 1 Cent
Updated
Updated · 10TV · May 27
Dick's Sporting Goods Posts $5.16 Billion Q1 Revenue as Adjusted EPS Misses by 1 Cent
4 articles · Updated · 10TV · May 27
$319.8 million in fiscal first-quarter net income translated to $3.54 a share, while adjusted earnings of $2.90 per share came in just below Wall Street's $2.91 estimate.
Revenue reached $5.16 billion, topping the $5.06 billion analysts expected and offsetting some disappointment from the earnings miss.
Dick's forecast full-year earnings of $13.50 to $14.50 per share on revenue of $22.1 billion to $22.4 billion.
Earlier reports said first-quarter results were pressured by Foot Locker acquisition costs, including $96.5 million in charges tied to deal expenses and inventory clearance.
As Dick's builds its 'athlete ecosystem,' will the Foot Locker deal challenge global rivals or distract from its core business?
With turnaround costs tanking profits, can a 100-store pilot prove the multi-billion dollar Foot Locker bet will actually pay off?