Comps impress at Dick's Sporting Goods

Dick's Sporting Goods (NYSE:DKS) reports comparable-store sales increased 3.2% in Q2 vs. guidance for a 1%-3% gain and 2.2% consensus.

Same-store sales for the Dick's brand was up 4.1%, while Golf Galaxy saw a 9.3% decline on slow traffic.

E-commerce penetration +70 bps to 6.3%.

Inventory +11.2% to $1.418B.

SG&A expense ratio +68 bps to 22.0%.

Store count +41 to 642.

Guidance: Full-year comp store growth of 1% to 3% is forecast. EPS is seen as falling in a range of $2.70-$2.85.

DKS +6.2% premarket

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