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Dicks Marketing Article 2
Dicks Marketing Article 2
11/2/14, 3:38 PM
Record: 1
Dick's Sporting Goods Follows The Trends To Earnings Beat. By:
Sharf, Samantha. Forbes.com. 8/19/2014, p5-5. 1p. Abstract: The
article reports on the 5.5% rise in stock earnings of Dick's Sporting
Goods after shifting its focus to athletic apparel and lesser on golf
products. Topics covered include the 10.3% increase in the second
quarter of 2014 revenue to 1.7 billion dollars as compared to 2012,
lower sales of golf and hunting products and possible earnings of
65-67 cents per share. Also mentioned are restructuring of the golf
business with a 20.4-million-dollar investment and elimination of
golf section staff. (AN: 97572460)
Database: Business Source Complete
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EBSCOhost
11/2/14, 3:38 PM
restructure its golf business. "We have consolidated our Golf Galaxy merchandising, marketing and store
operations into DICK'S Sporting Good," said Stack. "In addition, we have eliminated specific staff in our
golf area within our DICK'S Sporting Goods stores. These changes are necessitated by the current and
expected trends in golf. We will invest these cost savings into other aspects of our store operations and
into the growth areas of our business."
Maintaining earlier guidance, the company said it expects non-GAAP earnings per share to come in
between $2.70 and $2.85, this is down from a previous forecast of $3.03 to $3.08 and could mean
virtually no growth over last year's non-GAAP earnings per share of $2.69. Dick's now expects same
store sales to increase between 1% and 3%, compared to 1.9% growth last year and its prior 3% to 4%
estimate. While the company is "cautiously optimistic" it expect consumer caution to require promotional
and advertising activity that will pressure margins and cut approximately 4 cents of earning per share.
(Scott Olson/Getty Images)
~~~~~~~~
By Samantha Sharf, Forbes Staff
I cover markets, millennials and money. Follow @samsharf. Samantha Sharf's RSS Feed Samantha
Sharf's Profile Contact Samantha Sharf Recent Posts Popular Posts Full Bio I write about stock markets,
art markets, millennials and their money. Before joining the markets and personal finance desk I
produced the investing section of Forbes.com. In that role I helped our illustrious team of contributors
make the most of our site. Not long ago, I graduated from the University of Pennsylvania where I majored
in English and minored in art history but mostly worked at the student newspaper - The Daily
Pennsylvanian. At the DP I served as managing editor and later explored art, journalism and other ways
we express ourselves in a weekly opinion column. You can follow me on Twitter @SamSharf and email
me at ssharf@forbes.com.
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