Dicks out with Sales, Earnings Results

Dicks Sporting Goods Inc (NYSE:DKS) saw its shares get some traction, as the largest U.S. based full-line omni-channel sporting goods retailer, today reported sales and earnings results for the second quarter ended August 3.

The Pittsburgh-based retailer said consolidated same store sales for the second quarter increased 3.2%, driven by increases in both average ticket and transactions, and represents the Company's strongest quarterly comp sales gain since 2016.

DKS also enthused over second-quarter 2019 earnings per diluted share, which registered at $1.26 compared to $1.20 per diluted share in the prior year.

Consolidated net income for the second quarter rang in at $112.5 million, compared to earnings of $119.4 million in the prior-year.

The company has also raised its full-year 2019 earnings per diluted share guidance to $3.30 to 3.45, up from the previous range of $3.20 to 3.40. Dicks also repurchased $159 million of common stock during the second quarter

CEO Edward Stack reported, “We saw growth across each of our three primary categories of hardlines, apparel and footwear, our brick-and-mortar stores comped positively and our eCommerce channel remained strong, increasing 21%,"

"Our key strategies and investments are working, our major headwinds are behind us and we've bent the curve on sales. We are very enthusiastic about our business and are pleased to increase our full year sales and earnings outlook."

Shares gained $1.51, or 4.6%, to $34.48