Dick's Sporting Goods Post Q1 Profit

Dick's Sporting Goods reported that net income for the first quarter rose to $37.5 million, compared with $26.2 million a year earlier. Net sales increased 6.3 percent to $1.1 billion. Same-store sales rose 2.1 percent. The retailer will also open 34 new Dick's Sporting Goods stores in 2011, as well as remodel 14 existing locations. It also plans to open approximately three Golf Galaxy stores and relocate one Golf Galaxy store this year.