Dick's Sporting Goods ups Q4, 2009 profit outlooks

Pittsburgh Dick's Sporting Goods lifted its fourth-quarter and full-year profit outlook Wednesday after sales jumped late in the year.

Dick's said sales at stores open at least a year began to improve during the last week of November and grew stronger over the crucial holiday selling period.

The company boosted its expectations for those stores in the fourth quarter. Dick's expects sales at existing stores will now rise about 2% in the fourth quarter, compared with its previous guidance for a 4% to 6% decline.

While the early part of the year will still prove a drag on sales, Dick's said 2009 won't be as bad as it had once expected in stores open at least a year. The company expects sales fell about 2%, which is better than the previous predictions that sales would decline between 3% and 4%.