DICK'S Sporting Goods Inc. (DKS) reported first-quarter net income of $64.8 million or $0.52 per share. The company noted that the results include an after-tax increase to net income of $4.3 million, or $0.04 per share, resulting from an estimated partial recovery of its previously impaired JJB investment. For the first quarter of prior year, net income was $57.2 million, or $0.45 per share.
Adjusted net income was $60.5 million, or $0.48 per share for the quarter.
Net sales increased 4.1% to $1.33 billion. Adjusted for the shifted calendar due to the 53rd week in 2012, consolidated same store sales decreased 3.8%. Shifted same store sales for DICK'S Sporting Goods decreased 3.2% and Golf Galaxy sales decreased 11.8%. Unshifted consolidated same store sales decreased 1.7%, consisting of a 1.3% decrease at DICK'S Sporting Goods and a 7.4% decrease at Golf Galaxy.
On average, 29 analysts polled by Thomson Reuters expected the company to report profit per share of $0.48 for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $1.36 billion for the quarter.
The company currently expects fiscal 2013 adjusted earnings per share of approximately $2.84 to 2.86, excluding the partial recovery of a previously impaired asset. Consolidated same store sales are currently expected to increase approximately 2% to 3% on a 52-week to 52-week comparative basis. Analysts expect the company to report fiscal 2013 profit per share of $2.86.
The company currently expects second-quarter earnings per share of approximately $0.75 to 0.77. Consolidated same store sales adjusted for the shifted calendar, due to the 53rd week in 2012, are currently expected to increase approximately 2% to 3% in the second quarter of 2013, or approximately 3.5% to 4.5% on an unshifted basis. Analysts expect the company to report second-quarter profit per share of $0.76.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.