Dick's Sporting Goods
is expecting more shoppers to get in the game, literally.
While the sporting goods retailer posted a lower second-quarter profit, it upped full-year guidance, sending shares soaring 11% to $22.52 in morning trading.
During the quarter, profit slipped 2.5% to $38.9 million, or 33 cents a share, compared with $40 million, or 34 cents, in the year-ago period. Analysts expected a profit of 31 cents a share.
Revenue climbed 4% to $1.13 billion from $1.09 billion, boosted by the opening of new stores and the addition of an e-commerce site, but same-store sales sank 4.1%.
By division, comparable sales sank 3.2% at namesake stores and plunged 11.1% plunge at Golf Galaxy.
The company upped its full-year guidance to $1.02 cents to $1.07 a share, from prior forecast of 88 cents to $1 a share.
-- Reported by Jeanine Poggi in New York.
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