Dick’s misses Street 4Q forecasts
CORAOPOLIS (AP) — Dick’s Sporting Goods Inc. on Tuesday reported fiscal fourth-quarter earnings of $129 million.
The Coraopolis-based company said it had net income of $1.13 per share.
The results fell short of Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The sporting goods retailer posted revenue of $2.24 billion in the period, which also did not meet Street forecasts. Nine analysts surveyed by Zacks expected $2.28 billion.
For the year, the company reported profit of $330.4 million, or $2.83 per share. Revenue was reported as $7.27 billion.
Dick’s expects full-year earnings to be $2.85 to $3 per share.
Dick’s shares have risen 25 percent since the beginning of the year. The stock has decreased 21 percent in the last 12 months.