Dick's Sporting Goods Inc. (DKS) — The chain reported disappointing holiday sales numbers in part due to weak demand for one-time hot brands like Under Armour. The company's CEO also said recent changes to its firearm policies, ending the sale of guns to anyone under 21, will hurt future sales and may cause fewer shoppers to come to its stores. Sales fell 2 percent at established stores during the fourth quarter, which was about double the decline that Wall Street was expecting.
Dick's expects full-year earnings of about $2.80 to $3 per share. Analysts polled by FactSet predict $2.79 per share. For the period ended Feb. 3, Dick's earned $116 million, or $1.11 per share. Adjusted earnings were $1.22 per share, 2 cents better than analysts expected, according to a survey by Zacks Investment Research. Revenue rose to $2.66 billion, from $2.48 billion. The company's shares ended Tuesday up 32 cents, or about 1 percent, at $32.88 after dipping to $29.53 earlier in the day.


Volkswagen AG — CEO Matthias Mueller says the automaker had "an excellent year" in 2017 and is committed to addressing concerns about diesel pollution. Mueller said the company would be "part of the solution" in finding a way to address controversy over the diesel issue. Environmentalists are pressing for bans on older diesels in German cities. Mueller, at the company's annual news conference in Berlin, gave an upbeat view after last year's record sales of 10.7 million vehicles. He said conventional internal combustion engines would play a role in the company's push to meet tougher European Union limits on carbon dioxide emissions by 2021. But he said the company would invest 34 billion euros by 2022 on autonomous and electric technology and on developing digital transportation services. The company's shares closed in Frankfurt at 156.10 euros, down 5.10 euros or 3.2 percent.