Dick's Sporting Goods (NYSE: DKS) on Tuesday reported fourth-quarter earnings that slightly topped analysts' estimates but revenue and same-store sales fell short.
Net income totaled $116 million, or $1.11 a share, for the quarter ended Feb. 3, compared with $90.2 million, or 81 cents per share, a year ago.
Excluding one-time items, the company earned $1.22 a share, two cents above analysts' estimates
Revenue was $2.66 billion, below analysts' expectations for $2.74 billion in sales.
Same-store sales were down 2% overall for the holiday period, Dick's said, while analysts had forecast a decline of just 1%. Same-store sales grew 5% during the same period a year earlier.
Moving forward, Dick's said Tuesday it will no longer provide analysts and investors with a quarterly outlook, "to more closely align with industry practices."
The company is calling for full-year earnings per share to fall within a range of $2.80 to 3.00. Same-store sales are expected to decline as much as a low-single-digit percentage, compared with a 0.3% drop in fiscal 2017.
Dick's said it expects to open about 19 Dick's Sporting Goods stores in 2018 and to relocate four shops to different buildings. It's not planning to open any new Field & Stream or Golf Galaxy stores this year.
Shares of Dick's Sporting Goods have fallen more than 30% from a year ago.
They opened Tuesday trading at $32.56, up two cents from Monday’s close.
