(DICK’S) Shares of Dicks Sporting Goods fell more than 6% as comparable store sales in the first quarter of 2022 came 8.4% lower compared to prior year’s 117.1% increase.
Dicks Sporting said that its net sales were at $2.7 billion in the quarter, compared to $2.92 billion in the prior year.
The company reported a diluted earnings per share of $2.47, compared to an EPS of $3.41 in the prior year. The net income also came lower at $260.6 million, down from $361.8 million in the prior year.
The company declared a quarterly dividend of $0.4875 per share, payable on June 24, 2022.
For FY22, Dicks Sporting projects an EPS of $7.95 to $10.15. The comparable stores sales are expected to decline by minus 8% to minus 2%.
DKS:NYSE is down -8.03%.
