×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Dicks | Golf Galaxy | sales | weather

Dick's Sporting Goods Misses Estimates, Shares Fall

Tuesday, 20 August 2013 09:29 AM

Dick's Sporting Goods Inc. reported lower-than-expected quarterly results as fewer customers visited its stores due to cooler and wetter weather and weakness in consumer spending.

Shares of the company, which sells footwear, apparel and camping gear, fell 5 percent to $48.25 in premarket trading.

Consumers have tightened spending amid higher payroll taxes and gasoline prices and a slowing job market. A host of retailers from Macy's Inc. to Wal-Mart Stores Inc. have reported tepid sales for the latest quarter.

Dick's Sporting's net income rose to $84.2 million, or 67 cents per share, in the second quarter from $53.7 million, or 43 cents per share, a year earlier.

Excluding items, the company earned 71 cents per share in the quarter ended Aug. 3.

Net sales rose 6.6 percent to $1.53 billion.

Analysts on average had expected earnings of 74 cents per share on revenue of $1.57 billion, according to Thomson Reuters I/B/E/S.

Adjusted for an extra week in 2012, the company's same-store sales fell 0.4 percent, missing its forecast of a 2 to 3 percent rise. Same-store sales at Dick's Sporting Goods stores rose 0.1 percent while those at Golf Galaxy shops fell 6.1 percent.

© 2021 Thomson/Reuters. All rights reserved.


Companies
Dick's Sporting Goods Inc. reported lower-than-expected quarterly results as fewer customers visited its stores due to cooler and wetter weather and weakness in consumer spending.
Dicks,Golf Galaxy,sales,weather
194
2013-29-20
Tuesday, 20 August 2013 09:29 AM
Newsmax Media, Inc.
Join the Newsmax Community
Register To Comment Login To Comment
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved