PITTSBURGH (BRAIN) — Dick's Sporting Goods reported net sales increased 7.8% in the second quarter and improved its full-year outlook..
Net sales for the quarter ending Aug. 3 were $3.47 billion, compared with $3.22 billion at the same time last year. Full-year guidance for comparable sales growth was increased to a range of 2.5%-3.5% from 2.0%-3.0%.
"Our strong second quarter demonstrated the continued success of our long-term strategies and how Dick's is truly differentiated within the industry," said Ed Stack, executive chairman. "We are very enthusiastic about the significant growth opportunities ahead of us, including House of Sport, and the repositioning of our portfolio. The future of our business is very bright, and I'd like to thank all our teammates for their strong execution in Q2 and for their dedication to Dick's Sporting Goods."
Net income for the quarter was $362 million, up 48% year-over-year from $244 million. Earnings per share increased 55%, from $2.82 to $4.37.
President and CEO Lauren Hobart said the second-quarter improvement was driven in part by an increase in average ticket and transactions.
Dick's Sporting Goods is traded on the New York Stock Exchange under the DKS symbol. More information: DKS stock quote at NYSE.com.
