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Dick’s Sporting Goods is getting clobbered after same-store sales miss
Scott Dalton / Invision
The Under Armour shop at the new DICK’S Sporting Goods store at Baybrook Mall in Friendswood, Texas on Tuesday, October 18, 2016.
Dick’s Sporting Goods’ stock is down 12% at $42.10 a share after the company reported same-store sales that were less than analyst estimates.
Comparable sales for the quarter climbed 2.4%, missing consensus forecasts of 3.6% growth. The sporting goods and apparel retailer also trimmed its forecast for full-year 2017 same-store sales.
“Despite a challenging retail environment, we realized growth across each of our three primary categories,” chairman and CEO Edward W. Stack said in a statement. “Looking ahead, we continue to evaluate and adjust our business model, and are taking actions to reduce our expense structure in order to fund and develop our longer-term strategic initiatives.”
Dick’s reported an adjusted gain of $0.54 per share for the period, matching consensus estimates. The company also reported net revenue of $1.83 billion, which also met analyst forecasts.
The push lower in Dick’s shares is bad news for investors who were expecting a further recovery from a more than eight-month low in late March.
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Scott Dalton / Invision
The Under Armour shop at the new DICK’S Sporting Goods store at Baybrook Mall in Friendswood, Texas on Tuesday, October 18, 2016.
Dick’s Sporting Goods’ stock is down 12% at $42.10 a share after the company reported same-store sales that were less than analyst estimates.
Comparable sales for the quarter climbed 2.4%, missing consensus forecasts of 3.6% growth. The sporting goods and apparel retailer also trimmed its forecast for full-year 2017 same-store sales.
“Despite a challenging retail environment, we realized growth across each of our three primary categories,” chairman and CEO Edward W. Stack said in a statement. “Looking ahead, we continue to evaluate and adjust our business model, and are taking actions to reduce our expense structure in order to fund and develop our longer-term strategic initiatives.”
Dick’s reported an adjusted gain of $0.54 per share for the period, matching consensus estimates. The company also reported net revenue of $1.83 billion, which also met analyst forecasts.
The push lower in Dick’s shares is bad news for investors who were expecting a further recovery from a more than eight-month low in late March.
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
✍ Sumber Pautan : ☕ Business InsiderBusiness Insider
Kredit kepada pemilik laman asal dan sekira berminat untuk meneruskan bacaan sila klik link atau copy paste ke web server : http://ift.tt/2rm7kZ5
(✿◠‿◠)✌ Mukah Pages : Pautan Viral Media Sensasi Tanpa Henti. Memuat-naik beraneka jenis artikel menarik setiap detik tanpa henti dari pelbagai sumber. Selamat membaca dan jangan lupa untuk 👍 Like & 💕 Share di media sosial anda!
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