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Dick's Sporting Goods Inc DKS Stock Quote

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Morningstar‘s Stock Analysis DKS

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Is it the right time to buy or sell?

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No-Moat Dick’s Sporting Goods Sprints Into Holiday Season After Winning Q3; Shares Expensive

David Swartz Equity Analyst

Analyst Note

| David Swartz |

Shaking off the threat of slowing consumer spending due to inflation, Dick's Sporting Goods beat our negative 1.5% same-store sales estimate by recording a 6.5% increase in 2022's third quarter. As this result came on top of strong comparable sales growth in each of the previous three October-ending quarters, we view it as further affirmation that the firm's merchandising, pricing, and marketing efforts are scoring. Although we rate Dick's as a no-moat company due to the high competition in the sporting goods retail space, we view it as a strong operator with solid relationships with wide-moat Nike and other key vendors. Dick's shares moved up by a mid-single-digit percentage on the earnings report, and we expect to lift our $78 fair value estimate by a similar amount. However, we view shares as overvalued.

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Key Statistics DKS

Company Profile DKS

Business Description

Dick’s Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick’s operates digital platforms, about 730 stores under its namesake brand (including outlet stores), and about 130 specialty stores under the Golf Galaxy, Public Lands, and Field & Stream names. Dick’s carries private-label merchandise and national brands such as Nike, The North Face, Under Armour, Callaway Golf, and TaylorMade. Based in the Pittsburgh area, Dick’s was founded in 1948 by the father of current executive chairman and controlling shareholder Edward Stack.

345 Court Street
Coraopolis, PA, 15108
T +1 724 273-3400
Industry Specialty Retail
Most Recent Earnings Oct 31, 2022
Fiscal Year End Jan 28, 2023
Employees 50,800

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