Dick's Q2 profit leaps 32%

Pittsburgh Dick's Sporting Goods reported Thursday that second-quarter net income jumped 32% to $51.5 million, compared with $38.9 million a year earlier.

Revenue grew 9% to $1.23 billion, beating Wall Street expectations of $1.22 billion in revenue.

Same-store sales climbed 5.6% at Dick's Sporting Goods locations and rose 2.9% at its Golf Galaxy stores. In contrast, that measure fell 3.2% in last year's second quarter at Dick's locations and plummeted 11.1% at Golf Galaxy stores.

As of July 31, the company operated 425 Dick's Sporting Goods stores in 42 states and 91 Golf Galaxy stores in 31 states, but said it plans to close 12 underperforming Golf Galaxy stores in the third quarter.

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