Dick's Setting the Stage for Future Profitability Gains as Merchandise Adjustments Continue
Our investment thesis on no-moat Dick's Sporting Goods remains intact after its third-quarter update, as the company navigates several merchandise assortment changes and better positions itself for future profitability. As expected, negative comps continued into the quarter (down 3.9% on a comparable calendar basis) and will likely fall close to the same rate in the fourth quarter (based on full-year guidance calling for a 3%-4% decline) as Dick's continues to rationalize its lower-margin hunt/f...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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