Dicks Sporting Goods Inc. (NYSE: DKS) reported fourth-quarter and full-year 2013 results before markets opened Tuesday. For the fourth quarter, the sporting goods retailer reported diluted earnings per share (EPS) of $1.11 on revenues of $1.9 billion. In the same period a year ago, the company reported EPS of $1.03 on revenue of $1.81 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.11 and $1.94 billion in revenue. The 2012 fourth quarter included 14 weeks, one more than in 2013.
For the full year, the company reported adjusted diluted EPS of $2.69 on revenues of $6.2 billion. The consensus estimates called for EPS of $2.70 on revenues of $6.21 billion.
Same-store sales for the fourth quarter rose 6.3%, with sales at Dicks Sporting Goods stores up 6.8% and sales at Golf Galaxy stores down 9.4%. Online sales accounted for 12.2% of total sales for the quarter. For the fourth quarter of fiscal 2012, which ended in February of 2013, same-store sales at the Dicks Sporting Goods stores fell 2.2% in the quarter, rose 1.3% at Golf Galaxy stores and rose 54.2% for the companys e-commerce business.
The companys CEO said:
As we look to 2014, we believe our robust and growing omni-channel network and exciting merchandising opportunities will support double-digit growth in earnings.
The company estimates that full-year 2014 EPS will total $3.03 to $3.08. The outlook for the first quarter calls for EPS of $0.51 to $0.53 and same-store sales are expected to rise 3% to 4%, a sharp increase from a drop of 3.8% in the year-ago quarter. The consensus estimate calls for first quarter EPS of $0.54 and full-year EPS of $3.11.
The lower-than-expected forecast will weigh on shares. Quarterly results that missed the revenue estimate will add to the weight.
Shares were inactive in premarket trading, after having closed at $54.33 Monday night in a 52-week range of $45.44 to $58.87. Thomson Reuters had a consensus analyst price target of around $61.20 before earnings were announced.
Buzz up! Digg Fark Facebook Reddit Tumblr Deutsche Bank Predicts 5% Stock MarketCorrectionAmerican Eagles Forecast Inspires MoreGloom Read more: Retail, Earnings, Dick's Sporting Goods, Inc. (NYSE:DKS)Source: http://247wallst.com/retail/2014/03/11/dicks-sporting-goods-posts-mixed-results-offers-weak-forecast/
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