Dick’s Sporting Goods Inc. (NYSE: DKS) on Tuesday reported fourth-quarter earnings that beat analysts’ estimates. But revenue and same-store sales miss estimates, sending the company’s down over 5 percent.
The company said revenue rose 7.3 percent to approximately $2.66 billion in the fourth quarter, beating analysts’ estimates of $2.74 billion, according to a Thomson Reuters survey.
Fourth-quarter Net income was $116 million, or $1.11 per share, compared with $90.2 million, or 81 cents per share, a year ago.
Excluding certain items, the company earned $1.22 per share, beating analysts’ estimates of $1.2 a share.
"Amidst a competitive environment, we are very pleased to deliver fourth quarter results in line with our expectations, driving growth across key businesses. As expected, margins remained under pressure, however the decline was less than we anticipated," said Edward W. Stack, Chairman and Chief Executive Officer. "During 2017, we made significant progress on key priorities as we grew both our online and private brand businesses to over one billion dollars in sales."
Same-store sales were down 2 percent in the quarter ended February 3, 2018. Analysts had projected a 1 percent decline in same-store sales.
Dicks Sporting shares fell 5.16 percent to $30.87 in the early trading on Tuesday. Including today’s decline, the stock was down 34 percent in one year.