Dick's Sporting Goods Tops Profit Estimates As Sales Climb

By Ciara LinnaneMarketWatch Pulse

Dick's Sporting Goods Inc. said Tuesday it had net income of $90.8 million, or 77 cents a share, in the second quarter to Aug. 1, up from $69.5 million, or 57 cents a share, in the year earlier period. Sales rose 7.9% to $1.8 billion. The FactSet consensus was for EPS of 75 cents and sales of $1.8 billion. Same-store sales rose 1.2%, above the FactSet consensus of 1.1%. "We are seeing the benefits of our key growth pillars, as we continue to open very productive stores while winning online," Chief Executive Edward Stack said in a statement. The company raised its fiscal 2015 EPS outlook to a range of $3.13 to $3.21, compared with a current FactSet consensus of $3.18. Same-store sales are expected to grow 1% to 3%, after a 2.4% rise in 2014. Shares were not yet active in premarket trade, but are up 2.1% in the year so far, matching the S&P 500's gain.

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