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Retail Earnings Roundup: Dick’s Sporting Goods crushes estimates, Chico’s disappoints with earnings miss and weak guidance

Athletic retailer Dick's Sporting Goods' surged after surpassing analyst estimates

Dick's Sporting Goods storefront
The sporting-goods retailer lifted full-year guidance

It's a busy day for retail earnings with companies like Dick’s Sporting Goods and Chico’s FAS releasing their quarterly reports.

Dick’s Sporting Goods Inc (NYSE:DKS) released first-quarter earnings, crushing analyst estimates on net income and revenue. The athletic gear retailer reported earnings of US$0.59 on revenue of US$1.91bn compared with earnings of US$0.52 EPS on revenue of US$1.82bn in the previous year’s first quarter.

The Pennsylvania-based company beat Wall Street estimates of US$0.45 EPS on revenue of US$1.89bn.

The retailer lifted its guidance for the year ahead, forecasting yearly earnings per share between US$2.92 and US$3.12 compared with its previous forecast between US$2.80 and US$3.00.

In the wake of the Parkland school shooting, in which an AR-15 was used to kill 17 people, CEO Edward Stack announced that the stores would no longer sell guns to people under the age of 21 and will no longer carry assault-style firearms or high-capacity magazines.

Shares of the sports store surged more than 20% to US$36.80 in Wednesday pre-market trading.

DSW Inc (NYSE:DSW) announced better-than-expected first quarter earnings and revenue, but shares sank after its full-year guidance fell short. The shoe retailer reported earnings of US$0.30 per share on revenue of US$712.1mln compared with US$0.28 EPS on revenue of US$692mln in last year’s first quarter.

The Ohio-based company reported adjusted earnings of US$0.39, beating Wall Street estimates of US$0.37 EPS on revenue of US$681.89mln

For the year ahead, the retailer is expecting yearly adjusted earnings to be in the range of US$1.52 to US$1.67 per diluted share compared with consensus estimates of US$1.62.

CEO Roger Rawlins announced the launch of a cross-channel loyalty program, offering customers a simplified points system and additional benefits such as shoe donations and free shipping.

Shares of the shoe seller fell more than 4% to US$24.91 before the bell.

Michael Kors Holdings Ltd (NYSE:KORS) surpassed analyst estimates on both earnings and revenue in its fiscal fourth quarter. The luxury retailer reported earnings of US$0.29 per share on revenue of US$1.18bn compared with an earnings loss of US$0.17 per share on revenue of US$1.06 in the previous year’s fourth quarter.

The London-based company of New York designer Michael Kors reported adjusted earnings of US$0.63 per share, beating analyst estimates of US$0.60 EPS on revenue of US$1.15bn.

The company expects earnings for the fiscal year 2019 to be between US$4.65 and US$4.75 per share, falling slightly below analyst estimates of US$4.74 per share.

The retailer, which recently purchased designer shoe company Jimmy Choo, sees more acquisitions in its future.

Shares of the luxury handbag maker fell nearly 5% to US$65.

Movado Group Inc (NYSE:MOV) shares jumped following its better-than-expected first quarter results. The watchmaker reported earnings of US$0.35 per share on revenue of US$127.21mln compared with an earnings loss of US$0.18 per share on revenue of US$99.2mln.

The New Jersey-based company beat analyst estimates on earnings and revenue, reporting adjusted earnings of US$0.37 per share versus estimates of US$0.11 per share on revenue of US$109.5mln.

The company raised its guidance for the year, expecting earnings between US$2.35 and US$2.40 on revenue between US$615mln to US$625mln compared with the previous forecast of earnings between US$2.15 and US$2.25 on revenue between US$605mln to US$615mln.

Shares of the Swiss watchmaker jumped more than 15% to US$48.85.

Chico’s FAS Inc (NYSE:CHS) shares fell sharply after reporting a first-quarter earnings miss and weak guidance for the year ahead. The fashion retailer reported earnings of US$0.23 per share on revenue of US$561.82mln compared with US$0.26 EPS on revenue of US$583.73mln in the previous year’s first quarter.

The Florida-based company missed Wall Street estimates of US$0.25 per share on revenue of US$552mln.

For its yearly guidance, the company is expecting a mid-to-high single digit decline in net sales and a low-to-mid single digit decline in same-store sales.

The company recently announced plans to sell merchandise on Amazon starting in mid-May.

Shares of the retailer lost nearly 18% to US$8.25 in pre-market trading Wednesday.

Quick facts: Dick's Sporting Goods

Price: 57.24 USD

NYSE:DKS
Market: NYSE
Market Cap: $5.13 billion
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