Dick's Q1 profit more than doubles

Pittsburgh Dick's Sporting Goods reported Tuesday that profits for the first quarter ended May 1 more than doubled on higher overall revenue.

The sporting goods retailer said it earned $26.2 million for the quarter, compared with a profit of $10.2 million in the year-ago period.  

Revenue in the quarter rose 9% to $1.05 billion, from $959.7 million. Same-store sales increased 8.2% in the first quarter.

Analysts expected revenue of $1.03 billion.

As of May 1, the company operated 424 Dick's Sporting Goods stores in 41 states and 91 Golf Galaxy stores in 31 states.