Dick's Sporting Goods' Strong Results, Outlook Offset by Inventory Concerns

Earnings Performance - Dick's Sporting Goods reported third quarter earnings per share (EPS) of $2.75, exceeding estimates [1] - Revenue increased by 0.5$3.06 billion, surpassing expectations [1] - Comparable store sales rose by 4.2%, compared to 1.9% in the previous year [1] Guidance and Market Share - The company raised its full-year EPS guidance to $13.65 to$13.95, up from the previous forecast of $13.55 to$13.90 [1] - Full-year sales are now anticipated to be $13.2 billion to$13.3 billion, an increase from the earlier $13.1 billion to$13.2 billion [1] - Comparable store sales are expected to grow by 3.6% to 4.2%, compared to the earlier outlook of 2.5% to 3.5% [1] - The company gained market share during a strong back-to-school shopping season [1] Inventory Concerns - Inventory levels increased by 13% from 2023, raising concerns among investors [1] - The CFO stated that the inventory investment is focused on strong product offerings and is well-positioned for the fourth quarter [1] Stock Performance - Shares of Dick's Sporting Goods were up slightly by 0.24% mid-day Tuesday [1] - The stock has gained more than 40% in 2024 [1]