Dick’s Sporting Goods (DKS) is raising its full-year 2024 guidance after the sports retail topped second quarter earnings estimates, posting $3.47 billion in revenue and adjusted earnings of $4.37 per share.
TD Cowen managing director of retail and consumer brands John Kernan attributes back-to-school shopping to have given the sports retailer an extra sales push.
"The product allocations from key vendors have gotten so much better, the vendors have recognized that the consumer value sticks. They can value the shopping experience in Dick’s and management is doing a tremendous job in merchandising and supply chain to flow through very high, full-price sales," Kernan tells Yahoo Finance. "So the store experience has gotten better since we were kids, it will continue to."
Kernan points to the sale of high-end retail brands like Nike (NKE) and On Running (ONON) and the 2024 Summer Olympics as two major components of Dick’s in-store experiences this past quarter.
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