DKS Inventory Jumps As Dick’s Sporting Items Beats, Boosts Payout

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Dick’s sporting goods (DKS) put the second quarter outlook down and turned it up, while increasing returns for shareholders. DKS share has burst.




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The sportswear retailer announced a special dividend of $ 5.50 per share and a 21% increase in the quarterly dividend to $ 0.4375 per share. In addition, the company increased its share buyback program to at least $ 400 million.

Earnings per share rose 58% to $ 5.08 while revenue rose 21% to $ 3.27 billion. Wall Street expected earnings per share of $ 2.80 on sales of $ 2.85 billion.

Sales in the same store increased 19%. Ecommerce sales declined 28% compared to Q2 2020, which included a period of temporary store closures, but increased 111% compared to Q2 2019. E-commerce sales accounted for 18% of total sales.

“Given the strength of our business and our expectations of continued strong consumer demand, we are excited to raise our sales and earnings outlook for the second time this year,” said CEO Lauren Hobart in a press release.

Dick’s now expects net sales of $ 11.52 to $ 11.72 million, up 21% mid-year from 2020. It sees earnings per share of $ 12.45 to $ 12.95, up 108 % in the middle of the year compared to 2020. In addition, the comps increase by 18% to 20%. for the whole year.

DKS warehouse

Shares rose 12% today on the stock market to 128.50, above the 50-day line. DKS stock is extended from an entry of 73.78, but its relative strength line hit a new high according to MarketSmith chart analysis.

Among other sporting goods retailers, Academy Sport and Outdoor (ASO) jumped 7% to 42.40, joining a buy point of 42.85 from a cup base. ASO stock made an early entry Tuesday after bouncing off its 50-day line.

Hibbett (HIBB), which reported on Friday, rose 1.5% to 93.25 as it works with an entry of 98.45.

Big Five (BGFV) increased by 5.6%. and Foot locker (FL), which reported last week, added 1.4%.

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