Dick’s Sporting Goods came through the third quarter better than expected, with the Findlay-based sporting goods retailer this morning reporting a profit of $50 million, about even with last year’s results during the same period.
On a per-share basis, Dick’s reported earnings of 40 cents per share, one cent above the 39 cents that analysts polled by Thomson Financial Network projected.
Sales in the three months ended Nov. 2 rose 6.7 percent to $1.4 billion, while sales at stores open at least a year were up 3.3 percent after adjusting for calendar differences from the previous year.
The company said results were stronger at its Dick’s Sporting Goods stores than at its Golf Galaxy locations.
“Despite the continued challenging consumer environment, we delivered better than expected results in the third quarter, exceeding both our sales and earnings expectations,” Edward W. Stack, chairman and CEO, said in this morning’s announcement.
He said the company gave up some of its profit margin by using promotions to get customers into its stores.
Looking ahead, the company expects to produce earnings per share in the range of $1.04 to $1.07 in the holiday quarter, while sales at stores open at least a year are expected to grow 3 to 4 percent after adjusting for calendar differences.
Teresa F. Lindeman: email@example.com or 412-263-2018.