Dick's Sporting Goods Shares Spike On Strong Q2, Raised FY21 Outlook

Benzinga2021-08-25

Dick's Sporting Goods Inc (NYSE:DKS) reported second-quarter FY21 sales growth of 20.7% year-on-year, to $3.27 billion, beating the analyst consensus of $2.82 billion. Net sales increased 45.0% compared to Q2 FY19.

Same-store sales for the quarter rose 19.2%, which followed growth of 20.7% in Q2 FY20 and 3.2% in Q2 FY19.

eCommerce sales decreased 28% Y/Y due to temporary store closures and increased 111% against Q2 FY19.

eCommerce penetration was 18% of net sales in the quarter.

Gross profit increased 39.5% Y/Y to $1.3 billion, with the margin expanding 538 basis points to 39.9%.

The operating margin was 20.3%, and operating income for the quarter rose 69.6% to $663.6 million.

Dick’s Sporting Goods held $2.24 billion in cash and equivalents as of July 31, 2021.

Total inventory at the end of the quarter increased 7.2% Y/Y.

Cash provided by operating activities for the six months totaled $1.03 billion.

Adjusted EPS of $5.08 beat the analyst consensus of $2.70.

Dick’s Sporting announced a special dividend of $5.50 per share, a 21% increase in the quarterly dividend to $0.4375 per share, and an increase in its planned share repurchases to a minimum of $400 million.

Outlook: Dick’s Sporting sees FY21 sales of $11.52 billion - $11.72 billion (prior $10.515 billion - $10.806 billion) versus the consensus of $10.9 billion.

The company expects FY21 adjusted EPS of $12.45 - $12.95 (prior $8.00 - $8.70) versus the consensus of $9.01.

Price Action: DKS shares are trading higher by 12.6% at $128.79 in premarket on the last check Wednesday.

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Comments

sgrs
2021-08-25
sgrs
Ahh
- Karxun:
  Hmm
pongpongmong
2021-08-25
pongpongmong
Ok
- 慢的老人:
  Dick rising?

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Net sales increased 45.0% compared to Q2 FY19.</p>\n<p>Same-store sales for the quarter rose 19.2%, which followed growth of 20.7% in Q2 FY20 and 3.2% in Q2 FY19.</p>\n<p>eCommerce sales decreased 28% Y/Y due to temporary store closures and increased 111% against Q2 FY19.</p>\n<p>eCommerce penetration was 18% of net sales in the quarter.</p>\n<p>Gross profit increased 39.5% Y/Y to $1.3 billion, with the margin expanding 538 basis points to 39.9%.</p>\n<p>The operating margin was 20.3%, and operating income for the quarter rose 69.6% to $663.6 million.</p>\n<p>Dick’s Sporting Goods<b>&nbsp;</b>held $2.24 billion in cash and equivalents as of July 31, 2021.</p>\n<p>Total inventory at the end of the quarter increased 7.2% Y/Y.</p>\n<p>Cash provided by operating activities for the six months totaled $1.03 billion.</p>\n<p>Adjusted EPS of $5.08 beat the analyst consensus of $2.70.</p>\n<p>Dick’s Sporting announced a special dividend of $5.50 per share, a 21% increase in the quarterly dividend to $0.4375 per share, and an increase in its planned share repurchases to a minimum of $400 million.</p>\n<p><b>Outlook</b>: Dick’s Sporting sees FY21 sales of $11.52 billion - $11.72 billion (prior $10.515 billion - $10.806 billion) versus the consensus of $10.9 billion.</p>\n<p>The company expects FY21 adjusted EPS of $12.45 - $12.95 (prior $8.00 - $8.70) versus the consensus of $9.01.</p>\n<p><b>Price Action:</b>&nbsp;DKS shares are trading higher by 12.6% at $128.79 in premarket on the last check Wednesday.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Dick's Sporting Goods Shares Spike On Strong Q2, Raised FY21 Outlook</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nDick's Sporting Goods Shares Spike On Strong Q2, Raised FY21 Outlook\n</h2>\n\n<h4 class=\"meta\">\n\n2021-08-25 21:35 北京时间&nbsp;&nbsp;&nbsp;<strong>Benzinga</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Dick's Sporting Goods Inc (NYSE:DKS) reported second-quarter FY21 sales growth of 20.7% year-on-year, to $3.27 billion, beating the analyst consensus of $2.82 billion. 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