Dick's Invests for Future in 3Q, Making Shares Attractive for Long-Term Owners
Third-quarter results showed that no-moat Dick’s Sporting Goods is on track to meet our fiscal 2017 assumptions of 8% sales growth and gross margins down 50 basis points to around 29%. However, the tough North American environment is prompting the retailer to make further investments in technology, in-store wages and training, and its omnichannel, which are expected to hinder margins in fiscal 2018. Despite the near-term hit to profitability, we view this spending as essential, given the intense...Dick's Sporting Goods is an omni-channel sporting goods retailer offering sports equipment, apparel, footwear and accessories. The company also owns and operates Golf Galaxy, Field & Stream and other specialty concept stores, and Dick's Team Sports HQ, an all-in-one youth sports digital platform offering scheduling, communications and live scorekeeping through its GameChanger mobile apps, free league management services, custom uniforms and fan wear, and access to donations and sponsorships. The company provides products to its customers through its retail stores and online. The company is also involved in local communities, sponsoring teams in various sports.
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