UPDATE 1-Dick’s Sporting Q2 tops Street; sees weak Q3 profit

* Q2 EPS $0.43 vs Wall Street view $0.41 * Q2 rev up 9 pct,
beats estimates * Sees Q3 EPS $0.15-$0.16 vs est $0.18

Aug 19 (BestGrowthStock) – Dick’s Sporting Goods Inc (DKS.N: )
reported better-than-expected quarterly results on improved
margins but the sporting goods retailer gave a disappointing
third-quarter profit (Read more your timing to make a profit.) outlook.

For the current quarter, Pittsburgh-based Dick’s Sporting,
which typically gives conservative profit oulooks, projected
adjusted earnings of 15-16 cents a share, below analysts’
expectations of 18 cents a share.

For the second quarter, the largest publicly listed U.S.
sporting goods retailer earned $51.5 million, or 43 cents a
share, compared with $38.9 million, or 33 cents a share, a year
ago.

Analysts had forecast earnings of 41 cents a share,
according to Thomson Reuters I/B/E/S.

Sales rose 9 percent to $1.23 billion, slightly above
analysts’ expectations of $1.22 billion. Same-store sales rose
5.7 percent.

Gross margin improved to 29.4 percent from 27.5 percent a
year ago.

Shares of the company, which competes with Hibbett Sports
Inc (HIBB.O: ) and Big 5 Sporting Goods Corp (BGFV.O: ), closed at
$27.32 Wednesday on the New York Stock Exchange. The stock has
shed 5 percent of its value over the past three months.
(Reporting by Viraj Nair in Bangalore; Editing by Maju Samuel)

UPDATE 1-Dick’s Sporting Q2 tops Street; sees weak Q3 profit