Dick’s Sporting Goods Inc. stock jumped 6.3% in Wednesday premarket trading after the athletic retailer reported first-quarter earnings that beat expectations and raised its full-year profit guidance. Net income totaled $361.8 million, or $3.41 per share, after a loss of $143.4 million, or $1.71 per share, last year. Adjusted EPS of $3.79 blew past the FactSet consensus for $1.19. Sales of $2.919 billion were up from $1.333 billion last year and also ahead of the FactSet consensus of $2.230 billion. Same-store sales more than doubled, up 115%, with e-commerce up 14%. E-commerce was up 110% for the same period last year. The FactSet same-store sales consensus was for 71.4% growth. Dick’s raised its full-year EPS guidance to $7.05 to 7.68, up from previous guidance of $3.81 to $4.55. Adjusted EPS guidance has been raised to $8.00 to 8.70 from $4.40 to $5.20. Sales are forecast to be $10.515 billion to $10.806 billion. The FactSet consensus is for EPS of $5.46 and sales of $9.897 billion. Dick’s stock has rallied 49.7% for the year to date while the S&P 500 index is up 11.5% for the period.
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