Dick's Sporting Goods walloped by weak guidance


Dick's Sporting Goods (DKS) reports comparable-store sales rose 1.5% in Q1 to miss the company's own guidance of a 3%-4% gain.

Comps rose 2.3% at Dick's, while Golf Galaxy saw a 10.4% drop.

Execs says the hunting category was weak during the quarter.

E-commerce penetration rose to 7% of sales.

Dick's drops its FY14 EPS guidance to $2.70-$2.85 vs. $3.03-$3.08 prior and $3.08 consensus on lowered expectations for store traffic.

DKS -14.7% premarket

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Comments (4)
  • ReligiousWacko
    , contributor
    Comments (1838) | Send Message
     
    Wasn't Cramer pumping this last week? Shocking!
    20 May 2014, 09:34 AM Reply Like
  • 911Slade
    , contributor
    Comments (132) | Send Message
     
    Yup, he indicated that it was one to buy before earnings as I recall, although only half a position.
    20 May 2014, 10:08 AM Reply Like
  • Captain Pike
    , contributor
    Comments (890) | Send Message
     
    With the prices they charge I'm amazed they did that well, positive comps is impressive. Everything they sell is a commodity.
    20 May 2014, 01:26 PM Reply Like
  • jmc013
    , contributor
    Comments (5) | Send Message
     
    Ugly Quarter, expansion should be put on hold, only business with uptick was the on line segment...Why continue expanding, as for the Golf segment the consumer is confused their is a new club launch every month from Taylor Made and Callaway...Why open the Field and Stream stores if you cant sell at your main store Dicks....Mgmt. needs a reality check stock will tend lower for the next quarter, a buy in the mid twenties. SEC should look at all of the insiders who sold the end of March days before the quarter end. Dicks should of preannounced a bad quarter...Just my thoughts, not long or short at this time but watching very close..
    20 May 2014, 01:32 PM Reply Like
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