Dick's Sporting profit beats estimates

(Reuters) - Dick's Sporting Goods Inc , the largest publicly traded U.S. sporting goods retailer, reported a quarterly profit slightly above Wall Street estimates, helped by higher same-store sales and new store openings.

Dick's, which sells footwear, gear and apparel under brands such as Nike, Adidas and Under Armour, said earnings fell to $53.7 million, or 43 cents per share, in the second quarter from $73.8 million, or 59 cents per share, a year earlier.

On an adjusted basis, the company earned 65 cents per share, 1 cent above analysts estimates, according to Thomson Reuters I/B/E/S.

Revenue rose 10 percent to $1.44 billion, in line with estimates.

The company, which operates 490 namesake and 81 Golf Galaxy stores, said same-store sales, or sales at stores open for at least a year, rose 3.8 percent.

Shares of the Pittsburgh-based company closed at $50.54 on Monday on the New York Stock Exchange.

(Reporting by Aditi Shrivastava in Bangalore; Editing by Don Sebastian)

Source: http://news.yahoo.com/dicks-sporting-profit-beats-estimates-115625269--sector.html

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