DICK'S Sporting Goods Lift FY Profit View, But Stock Down

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) said that it raised its fiscal year 2018 earnings per share outlook to a range of $3.02 to $3.20 from the previous range of $2.92 to $3.12. Analysts polled by Thomson Reuters expect the company to report earnings of $3.09 per share for the year. Analysts' estimates typically exclude special items.

The company said that its earnings per share guidance is not dependent upon additional share repurchases. The Company reported earnings per share of $3.01 for the 53 weeks ended February 3, 2018.

Consolidated same store sales are currently expected to decline 3% to 4% on a 52-week to 52-week comparative basis, compared to a decline of 0.3% in 2017.

The company expects to open 19 new DICK'S Sporting Goods stores and relocate four DICK'S Sporting Goods stores in 2018. The company does not expect to open any new Field & Stream or Golf Galaxy stores in 2018.

The company now anticipates net capital expenditures to be approximately $225 million. In 2017, net capital expenditures were $373 million.

In Wednesday pre-Market trade, DKS is trading at $32.85, down $3.55 or 9.74 percent.