May 29, 2019
After a sluggish February, Dick’s saw positive comps for the rest of the quarter as it reported net income of $57,525,000 against $60,085,000 for the 13 weeks ended May 4 as sales gained 1% to $1,920,677,000 compared to $1,909,719,000 which included a 0.6% comp store gain against a 2.5% decline last year adjusted for an extra week.
Net income for Q1 decreased 45% to $667,000 from $1,223,000 while revenue increased 5% to $130,303,000 from $123,634,000, rebounding in April from a slow start due to poor weather and a late Easter shift to show a positive comp.
Comprehensive net income in the seasonally small final fiscal quarter ended Mar. 31 slipped 10% to C$6.0 million ($4.5 mm) from C$6.7 million on 25% higher sales of C$156.2 million ($117.4 mm) up from C$124.8 million, but GOOS forecast revenue growth slowing to about 20% in the coming year sending its share price tumbling.
Grupo SBF, parent of sporting goods retailer Centauro, increased its bid to $3.50 per share, or $109 million, for the struggling South American footwear e-tailer and said it would also give the firm BRL 70 million ($17.4 mm) in financial support following a shareholder meeting scheduled for May 30 so it could resume shipping.