Dick’s Sporting Goods maintained momentum in its third quarter, reporting better-than-expected third-quarter profit and revenue and an unexpected increase in comparable store sales.
Net income totaled $228 million, or $2.45 a share, for the quarter ended Oct. 29, down from $317 million, or $2.78 a share, in the year-ago period. Adjusted earnings per share came to $2.60, topping analysts’ estimates of $2.27.
Net sales rose 7.7% to $2.959 billion, ahead of the $2.702 billion analysts expected. Same-store sales rose 6.5%, on top of a 12.8% increase in the year-earlier period, a 23.2% increase in the 2020 third quarter a 6.0% increase in the 2019 third quarter.
Source: Chain Store Age
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