What's Driving The Rally In Dick's Sporting?

(RTTNews) - Shares of Dick's Sporting Goods Inc. (DKS) are currently up 17%, following strong third-quarter results.

The Company's consolidated net income for the third quarter ended November 2, 2019, is $57.6 million or $0.66 per share, compared to $37.8 million, or $0.39 per share in the year-ago quarter. On a non-GAAP basis, the consolidated net income for the recent third quarter is $44.8 million or $0.52 per share.

Net sales for the third quarter of 2019 increased by 5.6% to approximately $1.96 billion. Consolidated same-store sales for the third quarter of 2019 increased by 6.0% while the third quarter 2018 consolidated same-store sales decreased by 3.9%.

Looking ahead, the Company now expects full-year 2019 earnings per share in the range of $3.63 to $3.73 and full year 2019 non-GAAP earnings per share in the range of $3.50 to $3.60, both up from the previous range of $3.30 to $3.45 per share.

DKS touched a new high of $46.35 and is currently trading at $46.30, up 17.42%.