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Dick's Sporting Goods Inc stock price
Dick's Sporting Goods Inc latest news:
J.C. Penney, Dick’s Sporting Goods Plunge into Tuesday’s 52-Week Low Club
Dick's Sporting Goods stumbles, plans to increase discounts
Dick's Sporting Goods warned Tuesday that sales are expected to fall despite its plans to increase discounts, compounding concerns over retail woes.
Why Dicks Sporting Goods Is Getting Killed by the Retail Trend
Dick's Sporting Goods shares plummet after earnings miss, profit warning
Dick's Sporting Goods Inc. shares plummeted 17% in Tuesday premarket trading after the retailer reported second-quarter earnings that missed estimates, and issued a profit warning. Net income for the quarter was $112.4 million, or $1.03 per share, up from $91.4 million, or 82 cents per share. Adjusted EPS was 96 cents, below the $1 FactSet consensus. Revenue was $2.16 billion, up from $1.97 billion, but matched the FactSet consensus. Same-store sales increased 0.1%. The FactSet estimate was up 1.4%. Dick's expects full-year 2017 EPS in the range of $2.85 to $3.05, and adjusted EPS in the range of $2.80 to $3. Same-store sales are expected to be in the range of about flat to a low single-digit decline. The FactSet consensus is for EPS of $3.62 and same-store sales growth of 1.3%. Dick's expects third-quarter EPS in the range of 22 cents to 30 cents, and a same-store sales decline in the low-single digits. FactSet sees EPS of 56 cents and same-store sales growth of 0.5%. Dick's shares are down 34.3% for the year so far while the S&P 500 index is up 10.1% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Dick's Sporting Goods downgraded on concerns about e-commerce shift
Dick's Sporting Goods Inc. was downgraded to peer perform at Wolfe Research on Tuesday based on concerns about the shift to e-commerce from bricks-and-mortar retail. "Given the challenging reads through the first half of 2017, we believe any share gain potential will largely be eroded away by current oversupply, with too many goods chasing too little demand," analysts led by Adrienne Yih wrote. There's also "limited evidence" that Dick's is snapping up market share from competitors that are leaving the sector, the note said. "We believe Dick's is susceptible to severe deleverage and leaves us skeptical of further store openings beyond the current outlined plans," the note said, with Yih adding that Dick's is "sacrificing gross margin for comp" in an effort to price competitively. Dick's shares are up 1.6% in Tuesday trading, but down nearly 33% for the year so far. The S&P 500 index is up 10.7% for 2017 to date.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Dick's Sporting Goods launching price match program, closing Chelsea Collective stores
Dick's Sporting Goods Inc. confirmed Tuesday that it is launching a price match program. According to the company's website, to qualify for the "price match guarantee" the item must be the same brand, model and color; the product must be immediately available at a retailer like Macy's Inc. , Amazon.com Inc. , Wal-Mart Stores Inc. or Kohl's Corp. ; and it must meet certain other criteria for eligibility. For example, markdown items aren't included. Dick's also announced that it will be closing its Chelsea Collective stores on August 6. Chelsea Collective was a fitness boutique for women that focused on apparel, shoes and accessories. There were just two stores open for two years. "We opened Chelsea Collective stores as a lab to more thoroughly understand the women's specialty athletic business. As the leases at both locations are expiring soon, we have concluded the very successful experiment," Dick's said in a statement. Dick's shares closed Tuesday down 2.5%, and are down 30.3% for the year so far. The S&P 500 index is up nearly 10% for the period.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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