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DICK'S Sporting Goods, Inc.

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DICK’S Sporting outperformed the industry year to date, thanks to its impressive earnings surprise history. The company delivered fifth straight positive earnings surprise in third-quarter fiscal 2018. Bottom-line growth was driven by margin expansion and solid execution of its merchandising strategies that resulted in improved merchandise margins. Robust growth in private brands and athletic apparel along with solid e-commerce operations also aided results. Further, management raised its earnings guidance for fiscal 2018. However, DICK’S Sporting has been witnessing soft comps owing to persistent weakness in its hunt and electronics categories. Soft comps are also hurting the company’s top line which lagged estimates for the second straight time. While management has made changes to its hunt business, electronics business is likely to weigh on comps in fiscal 2018.


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