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DKS

Dick's Sporting Goods reported worse-than-expected Q2 results and lowered its FY23 guidance, leading to a drop in its share price.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:08 am

DKS

Dick's Sporting Goods has lowered its FY2023 adjusted EPS guidance to $11.50 - $12.30, compared to the previous estimate of $13.50. The company expects comparable store sales to be flat to positive 2.0% on a 52-week basis. Capital expenditures are projected to be between $670 to $720 million on a gross basis and $550 to $600 million on a net basis.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:06 am

DKS

Dick's Sporting Goods reported a 1.8% increase in Q2 comparable store sales, compared to a decrease of 5.1% YoY. This growth was driven by a 2.8% increase in transactions and continued market share gains.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:02 am

DKS

Dick's Sporting Goods (NYSE:DKS) reported Q2 earnings of $2.82 per share, missing the analyst consensus estimate of $3.81 by 25.98%. This is a 23.37% decrease from the same period last year. The company also reported quarterly sales of $3.22 billion, missing the analyst consensus estimate of $3.23 billion by 0.19%. This is a 3.60% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 11:01 am

M

Macy's has reported a 10% year-on-year decrease in its Q2 merchandise inventories.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:57 am

M

Macy's has reported a decrease in its Q2 gross margin rate, which is now 38.1%, down from 38.9% year-over-year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:56 am

M

Macy's Q2 earnings per share (EPS) of $0.26 beat the analyst consensus estimate of $0.13 by 100 percent, despite being a 74 percent decrease from the same period last year. The company's quarterly sales of $5.13 billion also beat the analyst consensus estimate of $5.09 billion by 0.79 percent, although this is an 8.39 percent decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:55 am

CTRN

Citi Trends has reiterated its fiscal 2023 outlook, expecting full year total sales to be in the range of negative mid to low single-digits compared to fiscal 2022. The company plans to open 5 new stores, remodel 10-20 stores, and close 10-15 underperforming stores. Full year capital expenditures are expected to be between $15 million and $20 million, with a year-end cash balance between $85 million and $105 million.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:50 am

LOW

Lowe's Companies Inc (NYSE:LOW) reported a Q2 FY23 sales decline of 9.17% YoY to $24.96 billion, slightly missing the analyst consensus of $24.99 billion. Despite this, the company's stock rose due to a reaffirmed annual outlook. Lowe's saw strong spring recovery and growth in Pro and online sales, which partially offset lumber deflation and lower DIY discretionary demand. The company repurchased 10.1 million shares for $2.2 billion and paid $624 million in dividends in the quarter.

Portfolio Pulse from Shivani Kumaresan

August 22, 2023 | 10:47 am

BJ

BJ's Wholesale Club reported Q2 earnings of $0.97 per share, beating the analyst consensus estimate of $0.90 by 7.78%. However, the company's quarterly sales of $4.96 billion missed the analyst consensus estimate of $5.15 billion by 3.62%. This represents a 2.75% decrease in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 10:45 am