SBD/Morning Buzz

Dick's Sporting Goods Beats Expectations, Opens New Locations

Dick's Sporting Goods exceeded its earnings expectations for Q3, reporting consolidated net income of $50.1M, or $0.40 per share, up from $40.2M, or $0.32 per share, for Q3 '11. Net sales were up 11.2% to $1.3B due primarily to a 5.1% increase in consolidated same-store sales and the growth of the company's store network, adding 21 new Dick' Sporting Goods stores. The 5.1% increase consisted of a 3.9% increase at Dick's Sporting Goods locations, a 2.3% increase at Golf Galaxy and a 46.7% increase in eCommerce business (Dick's Sporting Goods).
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