Dicks shares shoot higher in first quarter

[internet troll]

Apparently turning their backs on gun owners and actively trying to hurt the 2nd did not hurt Dicks much.

https://www.cnbc.com/2018/05/30/dick...-earnings.html

Dick's Sporting Goods shares skyrocket as gun sales restrictions don't hurt sales as much as feared
Angelica LaVito7:01 PM ET Thu, 15 Feb 2018 | 02:19
Kayaks are displayed outside of a Dick's Sporting Goods Inc. store in West Nyack, New York.
Craig Warga | Bloomberg | Getty Images

Kayaks are displayed outside of a Dick's Sporting Goods Inc. store in West Nyack, New York.

Dick's Sporting Goods shares jumped 23 percent at the market's open Wednesday after it beat fiscal first-quarter expectations and hiked its full-year earnings forecast, easing concerns that restrictions it placed on gun purchases would hurt its sales.

The retailer reported $60.09 million in net income, or 59 cents per share, topping estimates of 45 cents per share from analysts polled by Thomson Reuters. The company had profit of 52 cents a share in the first quarter a year earlier. Sales reached $1.91 billion, up 4.6 percent from the year-ago quarter and above estimates of $1.88 billion.

Dick's increased its full-year forecast to between $2.92 and $3.12 per share, up from the previously anticipated $2.80 to $3.00 per share.

In the quarter, same-store sales dropped 2.5 percent. Analysts had expected them to decrease 1.4 percent. Dick's said hunting and electronic sales lagged, while colder spring weather led to a delayed start to outdoor sports and activities.

In February, Dick's stopped selling all assault-style rifles in its stores after the school shooting in Parkland, Florida, which killed 17 students and staff members. CEO Ed Stack told analysts in March that it was "too early to tell" how the decision would affect the company's financial performance long term, but that it "wouldn't be positive from a traffic and sales standpoint."

Investors worried the change would weigh on Dick's performance. Part of Wednesday's big move likely had to do with hedge funds scrambling to cover their bets against the stock.

Nearly 15 percent of the company's shares available for trading were sold short, according to FactSet. A short squeeze occurs when investors who borrowed the stock for a short sale are forced to buy them back as the share prices moves higher.

[Aggies Coach]

Fuck Dicks !!!!

[frankski]

Most of their firearms and hunting accessories are a seasonal business. Pretty much a 3rd and 4th quarter item. Wait till the fall. I’d still short Dick’s.

[bogey1]

Just read an article where their sales were down. hmmm
Anyway, what aggs said.

[Walleye Hunter]

Just read an article where their sales were down. hmmm
Anyway, what aggs said.

The OP article does say that sales were down 2.5% but that article contradicts itself.

In the quarter, same-store sales dropped 2.5 percent. Analysts had expected them to decrease 1.4 percent.

[ATBackpackin]

A couple of things, one being sales and shares are different obviously. More importantly I doubt many hard 2a people shop at Dicks and the sportsman who do shop there probably don't buy many of the products that they quit selling. So for the most part, virtue signaling!

Oh yeah, and, FUCK DICKS!

[armabill]

Do you think that they lied?

[wa3ra]

Look at the date on the article; this is before the self-inflicted Dick shot.

Today: Stock price: DKS (NYSE) $37.55 -0.80 (-2.09%)

[Corey G]

Share price and actual money made can be quite different, look at Tesla they have an evaluation worth more then GM but burn more cash then they ever made. If all the companies that say they won't sell to Dicks continue their firearm business days are numbered and over price clothing won't hold them up with online buying growing so rapidly.

[nfafan]

Look at the date on the article; this is before the self-inflicted Dick shot.

Today: Stock price: DKS (NYSE) $37.55 -0.80 (-2.09%)

TV pundits didn't spin it that way...