Shares of Dick's Sporting Goods (DKS) were lower on Tuesday after issuing weak fourth-quarter guidance. The sporting goods retailer reported earnings of $0.48 a share, which topped analysts' projections of $0.42 a share. Revenue of $1.81 billion also beat expectations.
As for the fourth quarter, the company expects earnings to be between $1.19 and $1.31 a share, which is below analysts' forecasts. Dick's is also anticipating same-store sales to increase between 3% and 6% during the holiday quarter, while Wall Street is looking for a 4.2% increase.
Dick's is planning to open 38 new stores and relocate nine others by the end of the year.