Dick’s Sporting Goods Inc. shares

soared 11% in Wednesday premarket trading after the athletic-gear retailer reported record second-quarter profit and sales. Net income totaled $495.5 million, or $4.53 per share, up from $276.8 million, or $3.12 per share. Adjusted earnings per share of $5.08 blew past a FactSet consensus of $2.88. Sales of $3.27 billion were up from $2.71 billion and also ahead of the FactSet consensus for $2.84 billion. Comparable sales rose 19.2%, ahead of the FactSet consensus of a 5.4% increase. Dick’s announced a special dividend of $5.50 per share payable Sept. 24 to stockholders of record at the close of business on Sept. 10. The company also increased its quarterly dividend by 21% to $0.4375 per share, also payable on Sept. 24 to stockholders of record on Sept. 10. Dick’s now expects to repurchase a minimum of $400 million in shares during 2021, up from previous guidance of $200 million. For 2021, Dick’s is guiding for sales of $11.52 billion to $11.72 billion, comparable-sales growth of 18% to 20%, EPS of $11 to $11.45 and adjusted EPS of $12.45 to $12.95. The FactSet consensus calls for sales of $10.95 billion, comparable-sales growth of 13.3% and EPS of $8.94. Dick’s stock has more than doubled — it’s up 103.5% — in 2021, while the S&P 500 index

has gained 19.4% for the period.


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