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Live from the Dick's 3Q Call 

-          New shared service format (self-help) outpaced footwear chain comp results by 500bps+

-          Texas stores have outperformed company average by a ‘wide margin’

-          See opportunity for further margin expansion in intermediate-term as they shift towards greater mix of footwear & apparel as well as private label and brand business

Key driver of footwear and apparel business is Under Armour and Nike - seeing great results from the Nike Fieldhouse concepts in stores. (Hedgeye: They're kind of obligated to say this).

Price Inflation:

  • Not seeing significant price inflation yet
  • Buying for Q3 and Q4 of next year and not seeing 'any pressure that makes us uncomfortable.'
  • (Hedgeye's Note: This is troubling. There will be a margin hit at DKS. They should plan for it).