Mar. 12 at 7:43 PM
Shares of Dick’s Sporting Goods rose after the retailer reported stronger-than-expected fourth-quarter results, though its outlook for the current fiscal year was mixed. The company posted adjusted earnings of
$3.45 per share on
$6.2 billion in sales, beating Wall Street estimates, while comparable sales increased 3.1% year over year.
For the full fiscal year, Dick’s expects net sales between
$22.1 billion and
$22.4 billion, slightly above analyst forecasts. However, projected adjusted earnings of
$13.50 to
$14.50 per share came in below the consensus estimate of about
$14.82, tempering investor enthusiasm.
Investors are also closely watching the retailer’s first full year after its
$2.4 billion acquisition of Foot Locker, which had experienced declining sales and earnings prior to the deal. The company is targeting 1% to 3% comparable sales growth as it integrates the footwear chain into its broader sports retail strategy.
$DKS