Dicks Sporting Goods (NYSE: DKS) fell 8% after comparable second-quarter revenues tumbled 1.9% to miss the consensus estimate for a 0.7% decline , Adjusted for the calendar effects, comparable store sales fell by 4.0% in the quarter.
E-commerce revenue increased 12% to 11% of total revenue from 9% a year ago.
The company's gross margin improved 80 basis points to 30.3% of sales. The operating margin increased 10 basis points to 7.5% of sales.
Dicks opened five new stores during the quarter.
Total inventory at the end of the quarter was 6.4% yoy.
CEO update: "We achieved double-digit growth in e-commerce, private label and sportswear, with the exception of Under Armor, but as expected, sales were impacted by the strategic decisions we made in the Slow Growth, Low -Margin-Hunt and electronics hit Our comp price dropped, and we also had to continue to see significant falls in under armor sales due to the decision to expand sales and we are very confident that our selling price will improve next year . "
Looking In advance, Dicks expects a full year EPS of $ 3.02 to $ 3.20 against $ 2.92 to $ 3.1
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