Dick's Sporting Goods reports Q1 results, beats expectations

PITTSBURGH Sporting goods retailer Dick's Sporting Goods today reported sales and earnings results for the first quarter ended May 2. While net income was down year-over-year, earnings beat Wall Street analysts' expectations.

Year-over-year net sales for the retailer were up, rising from $912.1 million in the year-ago-quarter to $959.7 million.

The company saw comparable-store sales decrease by 6% year-over-year.

In its full-year 2009 outlook, the company anticipates reporting consolidated earnings per diluted share in the range of 85 cents to 97 cents per share, compared with a net loss of 36 cents per diluted share in 2008.