The earnings call reflected a positive outlook for DICK'S Sporting Goods, with strong sales growth, gross margin expansion, and an improved full-year earnings forecast. The company also highlighted successful strategic initiatives such as the expansion of House of Sport and omnichannel growth. However, these positives were somewhat tempered by increased SG&A expenses and a more promotional retail environment, requiring cautious guidance for the upcoming quarter.

Company Guidance

During the Q3 2023 earnings call for DICK'S Sporting Goods, the company provided updated guidance reflecting increased confidence in their business strategies and market position. The full-year outlook for non-GAAP earnings per diluted share was raised to a range of $12 to $12.60, up from the previous expectation of $11.50 to $12.30. This revision is supported by the strong Q3 sales performance, which saw a 2.8% increase to $3.04 billion and a comparable store sales growth of 1.7%. Additionally, the company's gross margin expanded by 88 basis points year-over-year. DICK'S also adjusted its expectations for comparable store sales, now anticipating an increase of 0.5% to 2%, compared to the prior forecast of flat to 2% growth. The non-GAAP EBT margin at the midpoint is expected to be approximately 10.4%. Despite a cautious outlook due to macroeconomic uncertainties, the company remains optimistic about long-term growth opportunities, driven by strategic investments in omnichannel experiences and new store concepts like House of Sport and Golf Galaxy Performance Centers.

Sales and Comps Growth

Third quarter sales increased 2.8% to $3.04 billion with comparable store sales up 1.7%, driven by increases in both transactions and average ticket.

Gross Margin Expansion

Non-GAAP gross margin expanded by 88 basis points compared to the prior year, primarily due to lower supply chain costs and improved merchandise margin.

Raised Full Year Outlook

DICK'S Sporting Goods raised its full year non-GAAP earnings per share guidance to $12 to $12.60, up from the prior expectation of $11.50 to $12.30.

Strong Back-to-School Performance

The back-to-school season was very strong, contributing significantly to the third quarter performance with notable increases in footwear, apparel, and accessories.

Omnichannel Athlete Growth

The company added 1.6 million new athletes this quarter, with omnichannel athletes making up the majority of sales and spending more than single-channel athletes.

House of Sport Expansion

DICK'S Sporting Goods expanded its House of Sport locations to 12 and plans to open approximately 10 more in 2024, indicating strong performance and positive reception.

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Dick's Sporting Goods (DE:DSG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:DSG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 29, 2018	2018 (Q2)	- / 1.16	0.931	25.00% (+0.23)	―	―
Nov 28, 2018	2018 (Q3)	- / 0.38	0.291	30.00% (+0.09)	―	―
Mar 12, 2019	2018 (Q4)	- / 1.04	1.183	-12.30% (-0.15)	―	―
May 29, 2019	2019 (Q1)	- / 0.60	0.572	5.08% (+0.03)	―	―
Aug 22, 2019	2019 (Q2)	- / 1.22	1.163	5.00% (+0.06)	―	―
Nov 26, 2019	2019 (Q3)	- / 0.50	0.378	33.33% (+0.13)	―	―
Mar 10, 2020	2019 (Q4)	- / 1.28	1.037	23.36% (+0.24)	―	―
Jun 02, 2020	2020 (Q1)	- / -1.66	0.601	-375.81% (-2.26)	―	―
Aug 26, 2020	2020 (Q2)	- / 3.11	1.222	154.76% (+1.89)	―	―
Nov 24, 2020	2020 (Q3)	- / 1.95	0.504	286.54% (+1.44)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:DSG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 26, 2024	€201.73	€213.12	+5.65%
Sep 04, 2024	€209.63	€204.83	-2.29%
May 29, 2024	€170.28	€178.94	+5.09%
Mar 14, 2024	€161.81	€195.48	+20.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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