Dick's Profit Jumps 43 Percent
Dick's Profit Jumps 43 Percent
Dick's Sporting Goods released its second-quarter results Tuesday,posting a 43 percent increase in profits thanks to strong growth in sales online. The retailer also upgraded its full-year outlook based on the positive results. For the three months ended July 30th, the company earned $73.8 million, or 59 cents a share, up from 2Q 2010 earnings of $51.5 million, 43 cents a share. Revenue for the May-July period came in at $1.31 billion, 7 percent higher than the company's total revenue of $1.23 billion in the same period a year ago.
Excluding a one-time gain during the period, earnings were 52 cents a share, topping analysts' expectations of 50 cents a share in a recent FactSet survey. The analysts had forecast higher revenue, however, at an average of $1.32 billion. Shares of the sporting goods retailer fell slightly, dropping less than half-a-percent.
Dick's revenue from stores open at least a year rose 2.5 percent, mainly due to a 31.9 percent rise in online sales, which are included in the same store numbers. Same store revenue is considered a key indicator of a retailer's performance because it excludes data from newly opened locations and stores that closed during the period. At the end of July, Dick's had 455 of its flagship sporting goods stores located in 42 states, as well as 81 Golf Galaxy stores across 30 states.
Dick's Sporting Goods released its second-quarter results Tuesday,posting a 43 percent increase in profits thanks to strong growth in sales online. The retailer also upgraded its full-year outlook based on the positive results. For the three months ended July 30th, the company earned $73.8 million, or 59 cents a share, up from 2Q 2010 earnings of $51.5 million, 43 cents a share. Revenue for the May-July period came in at $1.31 billion, 7 percent higher than the company's total revenue of $1.23 billion in the same period a year ago.
Excluding a one-time gain during the period, earnings were 52 cents a share, topping analysts' expectations of 50 cents a share in a recent FactSet survey. The analysts had forecast higher revenue, however, at an average of $1.32 billion. Shares of the sporting goods retailer fell slightly, dropping less than half-a-percent.
Dick's revenue from stores open at least a year rose 2.5 percent, mainly due to a 31.9 percent rise in online sales, which are included in the same store numbers. Same store revenue is considered a key indicator of a retailer's performance because it excludes data from newly opened locations and stores that closed during the period. At the end of July, Dick's had 455 of its flagship sporting goods stores located in 42 states, as well as 81 Golf Galaxy stores across 30 states.
Comments
Games
Alias
3 Foot Ninja 2
ALIAS 2
Air Dodge
Battle Tanks
Bomber Bob
Cable Capers
Gem Mania
Hacker
Hostile Skies
Mission Mars
Bowling
Samurai Warrior
The Pharoh's Tomb
Monkey Lander
Muay Thai
Action
Donkey Kong Banana Barrage
501 Dart Challenge
Rooftop Skater
Zelda
Donkey Kong
Xtreme Pinball
Tetris
Connect 4
Battleships
Frogger
Penguin Push
Online Video Poker
Spank The Monkey
Mob Pay Back
Dealer
Yeti Sports Seal Bounce
Hold Your Drink Steady
Solitaire
Canyon Glider
3D Sudoku
Metal Slug Rampage
Street Fighter II
Flashman
Disc Golf
Table Tennis
Ninja Air Combat
Celebrity Hitman Terrorist Alert
Spider Solitaire
Tubin
Presidential Knockout
Global Player
Ma Balls
Baseball
Beckham Fit






0 Comments
Click here to sign up now.