Shares of the Pittsburgh company at last check fell 5.3% to $72.60.
The sporting goods retailer posted fiscal-fourth-quarter earnings and revenue that exceeded Wall Street estimates.
For the quarter ended Jan. 30, Dick's reported GAAP earnings of $2.21 a share, more than double the 81 cents a share of the year-earlier period. The latest adjusted earnings were $2.43 a share.
Revenue rose 20% to $3.13 billion from $2.6 billion a year earlier. Same-store sales advanced 19.3%.
A survey of analysts by FactSet produced consensus estimates of GAAP earnings of $2.34 a share, or an adjusted $2.30, on revenue of $3.07 billion. The analysts estimated same-store sales would rise 17.1%.
For all of fiscal 2022, FactSet's survey is calling same-store sales to rise 1.8%.
"We were challenged in numerous ways, as were so many others, but as an organization we not only survived – we thrived, delivering record-setting sales and earnings," Executive Chairman and Chief Merchandising Officer Ed Stack said in a statement.
"We prioritized the health and safety of our teammates and athletes and invested in our front-line hourly store and distribution center teammates through our premium pay program," the executive said.
"Additionally, to help kids get back on the field, we donated $30 million to our foundation to support Sports Matter and other charitable programs within the communities we serve."
President and Chief Executive Lauren Hobart said the company's focus in fiscal 2022 will center on enhancing current strategies to accelerate growth.
For the full fiscal year Dick's Sporting Goods expects revenue of $9.54 billion to $9.93 billion. Sales for all of fiscal 2021 stood at $9.58 billion. FactSet's survey of analysts produced a consensus estimate of $9.56 billion.
The company also said it planned to repurchase at least $200 million of common shares in fiscal 2022.