- Dick’s Sporting Goods Raises Full-Year Forecast: The company increased its expected earnings per share (EPS) for the entire year 2024 to a range of $13.55 to $13.90, up from the previous forecast of $13.35 to $13.75.
- Comparable Sales Growth: Dick’s now expects comparable sales to grow between 2.5% and 3.5% for the year, up from the prior guidance of 2.0% to 3.0%.
- Net Sales Forecast: The company projects net sales to be between $13.1 billion and $13.2 billion for the year.
- Second Quarter Results:
- EPS: $4.37
- Net Sales: $3.47 billion (exceeded estimate of $3.43 billion)
- Gross Margin: 36.7% (higher than the estimate of 35.8%)
- Comparable Sales: +4.5% (outperformed estimate of +3.48%)
- Analyst Ratings: There are 13 buys, 14 holds, and 2 sells.
Dick’s Sporting Goods on Smartkarma
Analyst coverage of Dick’s Sporting Goods on Smartkarma has been positive, with Baptista Research providing insights into the company’s strong performance in Q1 2024. The report highlights Dick’s strategic focus on an omnichannel athlete experience, differentiated product assortment, and deep engagement with the Dick’s brand. Sales for the quarter increased by 6.2% to over $3 billion, with comparable sales rising by 5.3%. Cross-channel transactions also saw growth, indicating increased purchases from athletes and higher average ticket expenditures.
Baptista Research‘s initiation report on DICK’S Sporting Goods further emphasizes the retailer’s sales growth and unique business strategy. The company’s full-year sales hit $13 billion, showcasing a significant increase in market share. The report underlines Dick’s Sporting Goods‘ commitment to innovation, such as the development project, House of Sport. With positive sentiment from analysts, Dick’s Sporting Goods appears to be on a path of continued success and growth in the sports goods and outdoor retail sector.
A look at Dick’s Sporting Goods Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 2 | |
Dividend | 3 | |
Growth | 3 | |
Resilience | 2 | |
Momentum | 5 | |
OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Dick’s Sporting Goods is positioned well for long-term success. With a high Momentum score of 5, the company is showing strong positive price trends, indicating significant potential for future growth. This, coupled with respectable scores in Dividend and Growth at 3 each, suggests that Dick’s Sporting Goods is poised for stable performance and potential expansion in the coming years.
Although the Value and Resilience scores are slightly lower at 2, Dick’s Sporting Goods‘ overall outlook remains positive. As a sporting goods retailer with a focus on the eastern and central United States, the company’s broad selection of brand name products positions it well to capitalize on consumer preferences. With a diverse offering of equipment, apparel, and footwear, Dick’s Sporting Goods is likely to continue attracting customers and sustaining its market presence.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
π‘ Before itβs here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- β Unlimited Research Summaries
- β Personalised Alerts
- β Custom Watchlists
- β Company Analytics and News
- β Events & Webinars