Executive Summary

• Dick’s Sporting Goods reported 3Q18 revenues of $1.86 billion, down 4.5% year over year and below the consensus estimate of $1.88 billion. Diluted earnings per share (EPS) was $0.39, below the year-ago quarter of $0.35 and above the consensus estimate of $0.26.
• Adjusted for the calendar shift, due to the 53rd week in 2017, the consolidated same store sales declined 3.9% compared to the consensus estimate of (3.8)%.
• Dick’s Sporting Goods raised its full year earnings per share guidance to $3.15–$3.25, up from the previous guidance of $3.02–$3.20 and compared to the consensus estimate of $3.14. The company reaffirmed its expectations for comp sales to be in the range of (4)%–(3)% compared to the consensus estimate of (3.3)%.