DICK'S Sporting Goods Raises 2016 Earnings Guidance - Quick Facts

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) announced the company currently anticipates reporting consolidated earnings per share in the range of $2.90 to 3.05, excluding costs it expects to incur to convert former The Sports Authority stores to DICK'S Sporting Goods stores. Consolidated same store sales are currently expected to increase approximately 2 to 3%. In May, DICK'S Sporting Goods projected fiscal 2016 earnings in a range of $2.60 to 2.90 per share and consolidated same store sales of negative 1.0 percent to positive 1.0 percent. Analysts polled by Thomson Reuters expect the company to report profit per share of $2.83. Analysts' estimates typically exclude special items.

The company currently anticipates reporting consolidated earnings per share in the range of $0.39 to 0.42 in the third quarter of 2016, excluding costs it expects to incur to convert former TSA stores to DICK'S Sporting Goods stores. Consolidated same store sales are currently expected to increase approximately 2 to 3% in the third quarter of 2016. Analysts polled by Thomson Reuters expect the company to report profit per share of $0.37.

Net sales for the second quarter of 2016 increased 7.9% to approximately $2.0 billion. Consolidated same store sales increased 2.8%. Same store sales for DICK'S Sporting Goods increased 3.0%, while Golf Galaxy decreased 4.3%.

The company reported consolidated net income for the second quarter ended July 30, 2016 of $91.4 million, or $0.82 per share, compared to $90.8 million, or $0.77 per share, prior year.