Dick’s Sporting Goods announces second-quarter financials 

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DICK’S Sporting Goods (NYSE: DKSis known for creating both excitement and confidence by personally equipping its sportspeople to achieve all their goals and dreams, this top-in-class omnichannel corporation serves outdoor enthusiasts and athletes in over 800 outlets. The company recently reported its second quarter total earnings for the 2022 fiscal year.

Dick’s tops analyst estimates 

Dick’s Sporting Goods reported $3.68 EPS in the second quarter, which was 11c better than the $3.57 analyst estimate. In the same quarter, the company recorded $3.1 billion in total revenue, which was also more than the $3.06 billion consensus estimate.

Dick’s BoD recently declared and authorized a quarterly dividend payout of $0.4875 per/share on Class B Common Stock and Common Stock. This dividend is to be paid in cash by September 30 of this fiscal year to shareholders of record.  

The company increased FY same-store guidance from between -8% to -2% to -6% to -2%. It’s also going to increase its FY EPS outlook slightly to around $10-$12 per share.

Dicks shares have a Composite Rating of 87 out of 99. It has a Relative Strength Rating of 92, an exclusive IBD Stock Checkup designed to measure stock-price movements that go over 99. The rating helps show analysts and investors how the stock is holding up over the last 21 months against the other stocks in the platform’s database.

DKS is the latest huge retailer to report its earnings in the past few weeks and this has given investors and interested parties clues to how the spending habits of consumers are adapting to the pressures of inflation.

Management statements 

Dick’s Executive Chairman, Ed Stack, said:

Our second quarter performance demonstrates the strength of our core strategies and the foundational improvements we have made across our business over the past five years. In fact, we delivered approximately the same EBT in Q2 as we did in all of fiscal 2019.

Chief Executive Officer and President of the company, Lauren Hobbart, said:

We are very pleased with our second quarter results, and with our sales up 38% versus Q2 2019, the DICK’S Sporting Goods consumer has held up quite well. Our inventory is healthy and well-positioned, and we are excited about our assortment for the back-to-school season.

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