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Stock Market & Financial Investment News

News Breaks
March 11, 2014
10:29 EDTDKSDick's Sporting sees Field & Stream to be accretive to earnings in FY16
Says Q4 traffic increased 6.3%. For FY14, the company says its critical to grow store base while making existing store more productive. Says will shift square footage to growing areas as it addresses challenges in categories like business and golf. Sees headwinds in hunting business, golf business; expects softness from Q4 in golf business continuing. Says confident in meeting long-term targets. Says long-term targets are to generate $10B in sales and 10.5% operating margin by the end of FY17. Says gross margins are expected to increase slightly in Q1. Sees slight gross margin expansion in FY14 and anticipates pre-opening expenses to increase year over year in Q1. Expects Field & Stream to be dilutive in FY14 and the ramp-up to continue into 2015, should impact earnings to a lesser degree that year. Says "a bit cautious" on golf business. Comments made during the company's Q4 earnings conference call.
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July 23, 2014
06:25 EDTDKSDick's Sporting cuts 400 PGA golf instructors, WSJ reports
Over 400 PGA of America members who were employed as golf instructors at Dick's Sporting Goods have been notified this week that they are being laid off, the Wall Street Journal reports. Reference Link

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