Dick’s Sporting Goods Raised Outlook After Strong Q1 Earnings, But Analyst Is Watching For Inventory Shrink Commentary
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Goldman Sachs analyst Kate McShane reiterated a Buy rating on the shares of Dick’s Sporting Goods Inc (NYSE:DKS) with a price target of $242.
DKS reported 1Q24 adjusted EPS of $3.30 vs. $3.40 a year ago, above consensus (Refinitiv) of $2.95, led by SSS of +5.3% (lapping +3.4% in 1Q23) vs. consensus of +2.4%, said the analyst.
DKS’s sales grew 6.2% year-on-year to $3.02 billion, beating the analyst consensus estimate of $2.94 billion.
The company’s gross margin was up +10 bps y/y at 36.3%, with inventory level increasing by …
Full story available on Benzinga.com
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