logo
Plus   Neg
Share
Email

DICK'S Sporting Goods Slips To Loss In Q1 - Quick Facts

DICK'S Sporting Goods Inc. (DKS) reported a net loss for the first quarter ended May 2, 2020 of $143.4 million or $1.71 per share, compared to net income of $57.5 million, or $0.61 per share for the first quarter ended May 4, 2019.

The company incurred about $62 million of pre-tax expenses, or $0.50 per share, during the latest-quarter, as a result of actions taken to support its teammates as well as impacts from its temporary store closures.

On a non-GAAP basis, the company reported consolidated net income for the first quarter ended May 4, 2019 of $58.4 million, or $0.62 per share.

Net sales for the first quarter of 2020 decreased 30.6% to approximately $1.33 billion. Consolidated same store sales decreased 29.5%, driven by temporary store closures that started on March 18, 2020 to help prevent the spread of COVID-19. First quarter 2019 consolidated same store sales were flat.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.57 per share and revenues of $1.45 billion. Analysts' estimates typically exclude special items.

The company withdrew its fiscal 2020 outlook in March 2020. The company did not provide an updated outlook at this time.

As of May 30, 2020, the company has re-opened about 80% of its stores.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Netflix Inc. (NFLX) - Shares of the video streaming giant jumped 12% after it reported fourth-quarter results and strong subscriber additions. Netflix added 8.51 million subscribers globally in the quarter, far ahead of its forecast of 6.00 million, to end the quarter with 203.66 million subscribers.... Best Buy said it is partnering Popsockets to bring products designed by teens from the company's community programs to its store shelves. The electronics retailer will sell the teen-designed PopGrips in its stores as part of its "Black History Month" campaign. The campaign is intended to celebrate and encourage young artists. Goldman Sachs Group Inc. (GS) on Tuesday reported a fourth-quarter profit that more than doubled from last year, reflecting a surge in investment banking revenues and lower provisions for bad loans. Net revenues for the quarter rose 18 percent. Both quarterly earnings per share and revenues topped analysts' expectations.
Follow RTT