Home / Knowledge / News / Apparel/Garments / Dick's meets high end of expectations in Q1 2016
Dick's meets high end of expectations in Q1 2016
20
May '16
Courtesy: Dick
Courtesy: Dick's Sporting Goods
Dick’s Sporting Goods met the high end of its expectations in terms of earnings per share during the first quarter of 2016, ended April 30, and posted earnings of $0.50 per share against the guidance of $0.48-$0.50 per share.

The company posted a fall of 10.11 per cent in net income in Q1 of 2016 to $56.9 million as compared to $63.3 million in the corresponding quarter last year, ended May 2, 2015.

Commenting on the results, Edward Stack, chairman and CEO of Dick’s Sporting Goods said, “We are pleased to have delivered first quarter earnings at the high end of our expectations in a challenging retail environment.”

“The consolidation that is occurring among sporting goods retailers is creating a unique time in the industry. Given the expected near-term liquidation activity in the market, we have adjusted our guidance to contemplate this dynamic,” he informed.

“Over the longer term, we remain confident in our ability to aggressively capture displaced market share and to strengthen our leadership position,” he added.

The company posted net sales of approximately $1.7 billion in the quarter, which was a rise of 6.1 per cent as compared to last year.

Consolidated same store sales increased 0.5 per cent as compared to the company's guidance of approximately 1 per cent increase. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Apparel/Garments | On 26th May 2017

Walmart to conduct GST workshops for SME suppliers

With the objective of supporting its small and medium-sized (SME)...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Claudia Kersten
Global Organic Textile Standard

‘GOTS is a very efficient supply chain management tool, especially for...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search