Dicks Sporting Goods Inc. (DKS) reported fiscal second-quarter adjusted earnings of 36 cents per share, beating the Zacks Consensus Estimate by 16%.
Shares have jumped more than 8% so far today.
The company said that sales grew 3.7% to $1.13 billion driven by the opening of new stores and the addition of e-commerce sales.
Same-store sales, however, posted a decline of 4.1% due to a 3.2% decrease in its namesake stores coupled with an 11% dip in Golf Galaxy stores.
Meanwhile, the company anticipates adjusted earnings for the fiscal year ending Jan 2010 to range between $1.02 and $1.07 per share.
The outlook is higher than the Zacks Consensus Estimate of 99 cents per share, which has edged up a penny over the past month.
DKS, a Zacks #3 Rank (“Hold”) stock, is trading on extraordinarily heavy volume of about 6.7 million, compared to the average daily volume of approximately 1.1 million.
“DKS” Free Stock Analysis: Buy? Sell? Hold?
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