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8Dick's Sporting Goods ($DKS (+2,54%)) is on the verge of acquiring Foot Locker ($FL (+0%)) for around USD 2.3 billion - this corresponds to USD 24 per share and a premium of almost +90 % compared to Wednesday's closing price (USD 12.87).
🗓 Possible deal closing: Thursday
📈 *Reaction after the close:*
* Foot Locker ($FL): +62.32 %
* Dick's Sporting Goods ($DKS): -5 %
🗣 Official confirmation from both companies is still pending.
🔹 Adj. EPS: $3.62 (Est. $3.48) 🟢
🔹 Revenue: $3.89B (Est. $3.76B) 🟢
🔹 Comparable Sales: +6.4% YoY
🔹 Gross Margin: 10.2% (Flat YoY)
FY25 Guidance
🔹 Revenue: $13.6B - $13.9B (Est. $13.32B) 🟢
🔹 Comparable Sales: +1% to +3%
🔹 EPS: $13.80 - $14.40 (Est. $13.93) 🟢
🔹 CapEx: $1.2B Gross / $1.0B Net
Strategic Priorities & Growth Areas
🔹 Repositioning Real Estate & Expanding Store Portfolio
🔹 Strong Growth in Footwear Segment
🔹 Accelerating eCommerce & Digital Sales
🔹 Multi-Year $3B Share Buyback Program Approved
Operational Performance
🔹 Q4 Was the Largest Sales Quarter in Company History
🔹 Opened 7 House of Sport & 15 Field House Locations in 2024
🔹 Plans to Open 16 House of Sport & 18 Field House Locations in 2025
🔹 Board Approved a 10% Increase in Quarterly Dividend
Management Commentary
🔸 CEO Lauren Hobart: "We expect to drive continued comp growth, expand square footage, and improve gross margin, setting us up for sustained profitability and market share gains."
🔸 Executive Chairman Ed Stack: "The strength of sports culture in the U.S. presents a significant opportunity, and we are uniquely positioned to capitalize on this momentum."
$DKS (+2,54%) | Dick's Sporting Goods Q3 Earnings Highlights:
🔹 EPS: $2.75 (Est. $2.68) 🟢; UP +15% YoY
🔹 Revenue: $3.06B (Est. $3.03B) 🟢; UP +0.5% YoY
🔹 Comparable Sales: +4.2% (Est. +2.7%) 🟢
🔹 Gross Margin: 35.8% (Est. 35.2%) 🟢; UP +60 bps YoY
🔹 Pre-Tax Margin: 9.7% (Est. 9.6%) 🟢; UP +89 bps YoY
FY24 Guidance:
🔹 EPS: $13.65-$13.95 (Prev. $13.55-$13.90) 🟡
🔹 Revenue: $13.2B-$13.3B (Est. $13.28B) 🟡
🔹 Comparable Sales: +3.6% to +4.2% (Prev. +2.5% to +3.5%) 🟢
Strategic Highlights:
🔸 Back-to-School Season: Strong performance, driving sales growth and market share gains.
🔸 House of Sport & DICK’S Field House: Continued investment to redefine sports retail, enhancing athlete engagement and supporting long-term growth.
🔸 Omni-Channel Experience: Leveraging strong product assortment and service quality for the holiday season.
Shareholder Returns:
🔹 Share Repurchases: $170M YTD
🔹 Dividends Paid: $273M YTD
🔹 Dividend Yield: 2.7%
CEO Lauren Hobart's Commentary:
🔸 "We are proud of our Q3 results, which reflect strong execution across our strategic pillars. The back-to-school season was excellent, and our updated outlook underscores confidence in our continued momentum."
The week summarized:
Monday
Tuesday
Wednesday
Thursday
Friday
Let's make it simple: Ouch....
𝗠𝗮𝗿𝗸𝗲𝘁 𝗡𝗲𝘄𝘀 🗞️
𝗚𝗮𝗺𝗲𝗦𝘁𝗼𝗽 𝗺𝗶𝘁 𝘀𝗰𝗵𝘄𝗮𝗰𝗵𝗲𝗻 𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 / 𝗣𝗿𝗲𝗶𝘀𝗲𝘅𝗽𝗹𝗼𝘀𝗶𝗼𝗻 𝗯𝗲𝗶 𝗦𝗼𝗹𝗮𝗻𝗮
𝗘𝘅-𝗗𝗮𝘁𝗲𝘀 📅
As of today, Occidental Petroleum ($OPC (-0,67%)), Kimberly Clark ($KMY (+0,63%)) DICK's Sporting Goods ($DSG (+2,54%)), China Petroleum and Chemicals ($YIZH (+0%)), Fidelity National Information Services ($ZGY (+1,66%)), Nasdaq ($NAQ (+0,53%)), The Williams Companies ($WMB (+0%)) and Telus ($TU (+0,36%)), traded ex-dividend.
𝗤𝘂𝗮𝗿𝘁𝗮𝗹𝘀𝘇𝗮𝗵𝗹𝗲𝗻 📈
Today, Dave and Buster's Entertainment ($9DB (-3,49%)), Farmer Bros. ( $FB1 (-4,32%) ), KLX Energy Services ($KX4A (-0,52%)) and Sophia Genetics ($SOPH (-3,25%)) will present their quarterly results.
𝗜𝗣𝗢𝘀 🔔
Fidelity Investments-backed Procept Bio Robotics Corp, which manufactures robotic surgical technology, announced a possible initial public offering. The estimated enterprise value that would be created by this IPO is approximately $1 billion.
𝗠𝗮𝗿𝗸𝗲𝘁𝘀 🏛️
Reddit darling 𝗚𝗮𝗺𝗲𝗦𝘁𝗼𝗽 ($GS2C (-0,68%)) presented its quarterly figures last day, which were significantly below set expectations. The U.S. video game retailer was able to report a significant increase in sales in the second quarter compared to the previous year, mainly due to the relaxation of the Corona measures. However, as the company posted a loss of $61.6 million, it disappointed analysts' expectations. In response, the stock showed a 7.3 percent drop in price to $184.29 in pre-market U.S. trading.
𝗖𝗿𝘆𝗽𝘁𝗼 💎
The price of 𝗦𝗼𝗹𝗮𝗻𝗮 ($SOL-USD (+4,15%)) is up over 440% in the last 14 days. This makes it by far the best performing of the top 10 cryptocurrencies. Even after bitcoin's massive drop over the past day, Solana has managed to post a 28.8% gain. This brings Solana's current market capitalization to $61.36 billion. The enormous growth of the cryptocurrency can mainly be attributed to the fact that very many new developers launch their projects on the Layer 1 blockchain and take advantage of the improved speed and reduced transaction costs compared to the Ethereum blockchain.
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