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Dick's Sporting Goods Inc DKS

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Morningstar’s Analysis

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1-Star Price

PREMIUM

5-Star Price

PREMIUM

Economic Moat

PREMIUM

Capital Allocation

PREMIUM

Dick’s Lit Up the Scoreboard Again in Q2, but Exceptional Industry Conditions Cannot Last Forever

David Swartz Equity Analyst

Analyst Note

| David Swartz |

Incredibly favorable market conditions and solid execution propelled no-moat Dick’s Sporting Goods to terrific results in 2021’s second quarter. Its sales increased a whopping 45% as compared with 2019’s second quarter. To add some perspective, its adjusted EPS of $5.08 in the quarter exceeded its full-year 2019 EPS by 38%. Clearly, much has changed for Dick’s over the past 18 months, and the firm has capitalized. Still, we are not prepared to conclude that the pandemic has provided it with a sustainable advantage as the intense competition that existed before the crisis has not gone away.

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Company Profile

Business Description

Dick’s Sporting Goods retails athletic apparel, footwear, and equipment for sports. Dick’s operates about 730 stores, warehouse stores, and about 125 specialty stores under the Golf Galaxy, Public Lands, and Field & Stream names. Dick’s also operates e-commerce sites including youth sports site Team Sports HQ. 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.

Contact
345 Court Street
Coraopolis, PA, 15108
T +1 724 273-3400
Sector Consumer Cyclical
Industry Specialty Retail
Most Recent Earnings Jul 31, 2021
Fiscal Year End Jan 29, 2022
Stock Type Cyclical
Employees 50,100

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