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Dick's Sporting Goods Inc DKS
Q1 2013 Earnings Call Transcript

Transcript Call Date 05/21/2013

Operator: Good morning, and welcome to the DICK'S Sporting Goods First Quarter Earnings Conference Call. All participants will be in a listen-only mode. After today's presentation, there will be an opportunity to ask questions. Please note this event is being recorded.

Now I would now like to turn the conference over to Anne-Marie Megela, Vice President of Treasury Services and Investor Relations. Anne-Marie, please go ahead.

Anne-Marie Megela - VP of Treasury Services and Investor Relations: Thank you. Good morning and thank you for joining us to discuss our fourth quarter 2013 financial results.

Please note that a rebroadcast of today's call will be archived on the Investor Relations portion of our website located at dickssportinggoods.com for approximately 30 days. In addition, as outlined in our press release, the dial-in replay will be available for approximately 30 days.

In order for us to take advantage of the Safe Harbor rules, I would like to remind you that today's discussions includes some forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which includes, but are not limited to our views and expectations concerning our future results. Such statements relate to future events and expectations and involve known and unknown risks and uncertainties. Our actual results or actions may differ materially from those projected in the forward-looking statements.

For a summary of risk factors that could cause results to differ materially from those expressed in the forward-looking statements, please refer to our periodic reports filed within the SEC, including the Company's Annual Report on Form 10-K for the year ended February 2, 2013. We disclaim any obligation and do not intend to update these statements, except as required by the securities law.

We've also included some non-GAAP financial measures in our discussion today. Our presentation of the most directly comparable financial measures calculated in accordance with Generally Accepted Accounting Principles and the related reconciliation can be found on the Investor Relations' portion of our website at dickssportinggoods.com.

Leading our call today will be Ed Stack, Chairman and Chief Executive Officer. Ed will review our first quarter financial and operating results and discuss our guidance. Joe Schmidt, our President and Chief Operating Officer will then review our store development programs. After Joe's comments, Tim Kullman, our Executive Vice President of Finance, Administration and Chief Financial Officer, will provide greater detail regarding our financial results and expectations.

I'll now turn it over to Ed Stack.

Edward W. Stack - Chairman & CEO: Thank you, Anne-Marie, and I'd like to thank all of you for joining us today. This morning we announced our first quarter financial results, while we're pleased to announce, we generated earning in line with our original guidance, we weren't pleased with our top-line performance. We had meaningful sales in almost in several key areas of our business.

Our Golf Galaxy chain experienced negative comps of 11.8% while sales in the DICK'S Sporting Goods golf business were moderated worse. We also saw sales decline in our fitness and baseball business and to lesser extent select outdoor businesses such as bike, watersports and camping.

Read our Earnings Call Transcript disclaimer.
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