On Tuesday, Dick’s Sporting Goods reported first quarter net sales of $1.8 billion, a 9.9% increase from the same period in 2016, according to a company press release. Consolidated same-store sales increased 2.4%, falling short of the company’s expectations of 3% to 4% growth. E-commerce sales for Dick’s increased by 11% to reach 9.3% of total net sales.
Net income rose to $58.2 million, a 2.2% increase above the first quarter of 2016. Earnings-per-share were 52 cents, in line with the company’s guidance of 48 cents to 53 cents per share but short of analyst expectations of 54 cents per share, according to data compiled by the Wall Street Journal.
