Dick's Sporting Goods Inc. (DKS), an authentic full-line sporting goods retailer, posted strong first quarter 2011 results, ended April 30, 2011, on the heels of higher sales and improved margins.
Quarterly earnings climbed to 30 cents a share from the year-ago level of 22 cents a share and comfortably outpaced its earnings guidance in the range of 26 cents to 28 cents a share. Dick?s also inched past the Zacks Consensus Estimate of 29 cents.
A 2.1% increase in consolidated comparable-store sales (comps) and opening of new stores aided the 6.3% year-over-year increase in total revenue, which climbed to $1,113.8 million. However, total revenues fell short of the Zacks Consensus Estimate of $1,141.0 million.
The comps growth was driven by a 1.4% rise in Dick's Sporting Goods store sales, a 3.3% increase in Golf Galaxy store sales, along with a 25.2% growth in e-commerce business.
Gross profit came in at
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