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Dick's Sporting Goods fiscal Q2 profit falls 8.8% YOY

Dick's Sporting Goods Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 amounted to 68 cents per share, compared with the S&P Capital IQ consensus estimate of 65 cents per share.

EPS decreased 6.0% year over year from 73 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $83.3 million, a decrease of 8.8% from $91.3 million in the prior-year period.

The normalized profit margin declined to 4.9% from 6.0% in the year-earlier period.

Total revenue grew 10.3% year over year to $1.69 billion from $1.53 billion, and total operating expenses rose 12.3% year over year to $1.56 billion from $1.39 billion.

Reported net income decreased 17.5% year over year to $69.4 million, or 57 cents per share, from $84.1 million, or 67 cents per share.