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Dick's plans to open new Golf Galaxy store in Q2
23 May '08
3 min read
2008 Outlook:
The Company's current outlook for 2008 is based on current expectations and includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act as described later in this release. Although the Company believes that comments reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
"In 2008 we are continuing to grow our business and build our brand. However, we are being cautious about our outlook for the remainder of the year, due to the overall uncertainty of the current economic environment," said Mr. Stack. "We will constantly monitor business trends and are positioned to take appropriate actions should the economic environment change."
• Full Year 2008
- Based on an estimated 118.3 million diluted shares outstanding, the Company currently anticipates reporting consolidated earnings per diluted share of approximately $1.22 - 1.36, as compared to earnings per diluted share for the full year 2007 of $1.33.
- Comparable store sales, which include Dick's Sporting Goods stores only, are expected to decrease approximately 3 - 5%. The comparable store sales calculation excludes the Golf Galaxy and Chick's Sporting Goods stores.
- The Company expects to open approximately 44 new Dick's Sporting Goods stores, ten new Golf Galaxy stores and relocate one Dick's store in 2008.
• Second Quarter 2008
- Based on an estimated 117.5 million diluted shares outstanding, the Company anticipates reporting consolidated earnings per diluted share of approximately $0.34 - 0.38, as compared to earnings per diluted share for the second quarter 2007 of $0.41.
- Comparable store sales, which include Dick's and Golf Galaxy stores, are expected to decrease approximately 4 - 7%. The comparable store sales calculation excludes the Chick's Sporting Goods stores.
- The Company expects to open approximately ten new Dick's stores and one new Golf Galaxy store in the second quarter.
The Company's current outlook for 2008 is based on current expectations and includes "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act as described later in this release. Although the Company believes that comments reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
"In 2008 we are continuing to grow our business and build our brand. However, we are being cautious about our outlook for the remainder of the year, due to the overall uncertainty of the current economic environment," said Mr. Stack. "We will constantly monitor business trends and are positioned to take appropriate actions should the economic environment change."
• Full Year 2008
- Based on an estimated 118.3 million diluted shares outstanding, the Company currently anticipates reporting consolidated earnings per diluted share of approximately $1.22 - 1.36, as compared to earnings per diluted share for the full year 2007 of $1.33.
- Comparable store sales, which include Dick's Sporting Goods stores only, are expected to decrease approximately 3 - 5%. The comparable store sales calculation excludes the Golf Galaxy and Chick's Sporting Goods stores.
- The Company expects to open approximately 44 new Dick's Sporting Goods stores, ten new Golf Galaxy stores and relocate one Dick's store in 2008.
• Second Quarter 2008
- Based on an estimated 117.5 million diluted shares outstanding, the Company anticipates reporting consolidated earnings per diluted share of approximately $0.34 - 0.38, as compared to earnings per diluted share for the second quarter 2007 of $0.41.
- Comparable store sales, which include Dick's and Golf Galaxy stores, are expected to decrease approximately 4 - 7%. The comparable store sales calculation excludes the Chick's Sporting Goods stores.
- The Company expects to open approximately ten new Dick's stores and one new Golf Galaxy store in the second quarter.
Dick's Sporting Goods Inc
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