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Reuters
Published
May 19, 2009
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Dick's Sporting Q1 beats Street

By
Reuters
Published
May 19, 2009

May 19 (Reuters) - Dick's Sporting Goods Inc (DKS.N) posted higher-than-expected quarterly results as revenue from new stores offset weakness in its golf category, and it forecast second-quarter profit largely in line with market estimates.


Footwear & Apparel at Dick's Sporting Goods

The company, which opened nine Dick's Sporting Goods stores and one Golf Galaxy store in the first quarter, expects a second-quarter profit of 28 cents to 31 cents a share, excluding items. Analysts were looking for 30 cents, according to Reuters Estimates.

For the first quarter ended May 2, the retailer, which sells sporting equipment, apparel and footwear, posted a profit of $10.2 million, or 9 cents a share.

Excluding items, it earned 11 cents a share.

Revenue rose 5 percent to $959.7 million.

Analysts expected earnings of 7 cents a share, before special items, on revenue of $914.3 million.

Sales at stores open at least a year, or same-store sales, fell 6 percent. Golf Galaxy stores saw a 19.7 percent fall.

Shares of the Pittsburgh-based company closed at $19.78 Monday 18 May on the New York Stock Exchange. (Reporting by Mihir Dalal in Bangalore; Editing by Deepak Kannan)

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