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Dick’s Sporting Goods Headed for Multiyear Low on Weak Forecast

Dick’s Sporting Goods Inc. (NYSE: DKS) reported third-quarter 2015 results before markets opened Tuesday. The specialty retailer posted adjusted diluted earnings per share (EPS) of $0.45 on revenues of $1.6 billion. In the same period a year ago, the company reported $0.41 EPS on revenue of $1.53 billion. Third-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.47 and $1.64 billion in revenue.

Same-store sales for the third quarter rose 0.4%, with sales at Dick’s Sporting Goods stores up 0.7% and sales at Golf Galaxy stores down 2.9%. Online sales accounted for 8% of total sales for the quarter, up from 7.3% in the year-ago quarter.

On a GAAP basis the company posted net income of $47.2 million and EPS of $0.41. The totals included a litigation settlement charge of...