PITTSBURGH (BRAIN) — Dick's Sporting Goods reported net sales increasd 0.5% year-over-year in the third quarter and said it will raise full-year guidance.
Net sales were $3.57 billion for the quarter ending Nov. 2, compared with $3.42 billion at the same time last year. Full-year guidance for comparable sales growth was adjusted to a range of 3.6%-4.2% from 2.5%-3.5%.
"Our strong third-quarter results demonstrate the significant momentum we have in our business," said Executive Chairman Ed Stack. "We continue to make strategic investments such as our House of Sport and Dick's Field House concepts, where we are redefining sports retail and creating strong engagement with our athletes, brand partners, and communities that will fuel our long-term growth."
Net income for the quarter increased 13%, from $750 million to $865 million year-over-year. Earnings per share increased 21%, from $8.63 to $10.43.
Dick's Sporting Goods is traded on the New York Stock Exchange under the DKS symbol. More information: DKS stock quote at NYSE.com.
