Dick’s Sporting Goods Inc. shares DKS, +2.75% slid 3.5% in premarket trade Tuesday, after the retailer posted another quarter of falling profit, sales and same-store sales. Pittsburgh-based Dick’s said it had net income of $102.6 million, or $1.07 a share, in the quarter, after earnings of $116.0 million, or $1.11 a share, in the year-earlier period. Adjusted per-share earnings came to $1.22, ahead of the FactSet consensus of $1.06. Sales fell to $2.49 billion from $2.66 billion, also ahead of the FactSet consensus of $2.48 billion. Same-store sales fell 2.2% on a 13-week to 13-week basis, but were down 3.7% on an unshifted calendar basis. The FactSet consensus was for a decline of 3.3%. CEO Edward Stack said the company was pleased with the fourth quarter numbers. “Our core business performed quite well, as our athletes have responded positively to many of our initiatives, resulting in comp sales gains across key categories and double digit percentage increases in eCommerce and private brand sales,” he said in a statement. The company is now expecting to return to positive same-store sales in the second quarter. For the full year, the company is expected EPS of about $3.15 to $3.35, based on an estimated 95 million shares outstanding and including the expectation of share buybacks. It expects same-store sales to be flat to up 2%. The current FactSet consensus is for full-year EPS of $3.34 and same-store sales of up 0.5%. Shares have gained 19.4% in the past 12 months, while the S&P 500 SPX, +1.47% is flat.
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