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Dick's Sporting Goods matches 1Q profit expectations, but a key sales measure falls short

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NEW YORK — Dick's Sporting Goods Inc. reported positive first-quarter financial results on Tuesday, but a key sales measure fell short of expectations, sending the sporting-goods company's shares lower.

The stock fell $1.29, or 2.3 percent, to $56.29 in premarket trading.

The Coraopolis, Pennsylvania-based company said it had net income of $63.3 million, or 53 cents per share, on revenue of $1.57 billion.

The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 53 cents per share, while 12 analysts surveyed by Zacks expected $1.56 billion in revenue.

The company reported a 1 percent boost in same-store sales, which is a key measure of a retailer's health. Analysts polled by Factset expected a 1.5 percent boost in same-store sales.

Looking ahead, the company expects second-quarter profit between 73 cents and 76 cents per share and full-year profit of $3.12 to $3.20 per share. Analysts polled by Factset expect second-quarter profit of 76 cents per share and full-year profit of $3.19 per share.

Dick's shares have risen 13 percent since the beginning of the year. The stock has increased 9 percent in the last 12 months.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DKS at http://www.zacks.com/ap/DKS

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Keywords: Dick's Sporting Goods, Earnings Report

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