8-K
filed August 22, 2023, 7:59 PM ET
ticker DKS
CIK 0001089063
earnings
confidence high
sentiment negative
materiality 0.85
DICK'S SPORTING GOODS, INC. (DKS): restructuring charge — Dick's Q2 EPS $2.82 vs $3.25 YoY; guides FY23 EPS $11.33-$12.13; announces $20M severance
DICK'S SPORTING GOODS, INC.
2023-Q2 EPS reported
$6.23
revenue$6,065,823,000
- Net sales $3.22B, up 3.6% YoY; comp store sales +1.8% driven by 2.8% transaction growth.
- GAAP diluted EPS $2.82 vs $3.25; non-GAAP $2.82 vs $3.68; no adjustments in current period.
- Elevated inventory shrink impacted Q2 profitability; FY23 EPS outlook lowered to $11.33-$12.13.
- Business optimization includes $20M severance in Q3; possible additional $25-$50M charges.
- Quarterly dividend of $1.00 per share declared, payable Sept 29, 2023 to holders of record Sept 15.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.99
DICK'S SPORTING GOODS, INC. reported second quarter ended July 29, 2023 results: revenue $ 3,224, net income $ 244, EPS $ 2.82. Guidance reaffirmed.
- Period
- second quarter ended July 29, 2023
- Revenue
- $ 3,224
- Net income
- $ 244
- EPS
- $ 2.82
- Guidance
- reaffirmed
- Result
- reported results
Exact text from the filing
quarter ended July 29, 2023. Second Quarter Operating Results (dollars in millions, except per share data) 13 Weeks Ended Change (1) July 29, 2023 July 30, 2022 Net sales $ 3,224 $ 3,112 $ 111 3.6% Comparable store sales 1.8% (5.1)% Income before income taxes (% of net sales) (2) 10.1% 13.7% (362) bps Net income $ 244 $ 319 $ (74) (23)% Earnings per
View on SEC.gov
Restructurings & Charges
SEC 8-K Item 2.05/2.06
confidence 0.9
DICK'S SPORTING GOODS, INC. announced a restructuring with charges of approximately $20 million of severance expense affecting customer support center.
- Type
- restructuring
- Charge
- approximately $20 million of severance expense
- Affected area
- customer support center
Exact text from the filing
The Company has eliminated certain positions primarily at our customer support center on August 21, 2023 for which it expects to incur approximately $20 million of severance expense in the third quarter of 2023.
View on SEC.gov
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