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Dick's Scores 13% Gain in 1Q Net

Dick's Sporting Goods (NYSE:DKS) continued in the first quarter to post profit and sales growth, reporting Tuesday a 13% increase in earnings despite lower same-store sales.But Dick's, the top sports retailer in the U.S., missed its own revenue estimate and plans to add less-expensive products to counter headwinds."In the first quarter, we generated earnings in line with our original guidance, but were not pleased with our sales results, which came in below our expectations," Chairman and Chief Executive Edward Stack said in a statement. "To drive sales and preserve margins in the near-term, we will work with our vendor partners, particularly in golf, to provide value offerings."The company bought the rights to Callaway Golf's (NYSE:ELY) Top-Flite brand last year in an effort to become more competitive in the golf market. It also owns retailer Golf Galaxy.Stack added that work at 75% of the stores in line to be remodeled will be completed by the end of the second quarter.In the latest ...

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