Dick's Sporting Goods beat profit and sales estimates, but shares lost ground on concerns about growing inventory levels.

Dick’s Sporting Goods Inc.’s beat estimates for the third quarter and raised its guidance, boosted by a strong back-to-school season. The Pittsburgh-based company posted net income of $228 million, or $2.75 a share, for the quarter, down from $240 million, or $2.39 a share, in the year-earlier period.

Dick’s Sporting Goods lifted its sales and earnings guidance for the year after the back-to-school season boosted comparable sales in the third quarter.

Dick’s Sporting Goods, Inc. delivered third quarter net sales of $3.06 billion and earnings per diluted share of $2.75 in the third quarter ended November 2. Comparable store sales for fiscal 2024 third quarter, which were calculated by shifting the prior-year period by one week to compare similar calendar weeks, were up 4.2 percent year-over-year.

Dick’s Sporting Goods Inc. raised its full-year sales outlook after posting strong results in the back-to-school season ahead of the holidays, spurred by high demand for sports gear.

Dick's Sporting Goods said an "excellent" back-to-school season pushed the retailer to raise its 2024 outlook. The sporting goods chain said Tuesday that Q3 revenues were $3.06 billion, up 0.5 percent from the same quarter last year and ahead of the $3.

Dick's Sporting Goods (NYSE:DKS) lifted its comparable sales growth outlook for the full fiscal 2025, sending its shares rising 7% in premarket trading Tuesday. The chain of sporting goods stores reported earnings per share (EPS)