Dick's Sporting Goods Shares Rise After Profit, Sales Beat Expectations

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Shares of Dick's Sporting Goods rose 1.1% in premarket trade Tuesday, after the sporting goods retailer's better-than-expected fiscal fourth-quarter results offset a downbeat first-quarter outlook. The company said profit for the quarter ended Jan. 31 rose to $155.5 million, or $1.30 a share, from $138.6 million, or $1.11 a share, in the same period a year ago. That beat the FactSet consensus EPS estimate of $1.22. Total sales increased 10.9% to $2.16 billion, topping the FactSet consensus of $2.12 billion. Same-store sales grew 3.4%, ahead of the FactSet consensus of 1.2%, as a 3.8% increase in Dick's Sporting Goods stores offset a 7.1% decline in Golf Galaxy stores. For the first quarter, the company said it expects earnings per share in the range of 49 cents to 53 cents and same-store sales of flat to up 2%, compared with the FactSet consensus of 56 cents and 2.2%, respectively. The stock has rallied 13% in the past three months, while the S&P 500 has gained 2.1%.

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