Dick's Sporting Goods Q3 profit and sales up

Pittsburgh -- Dick's Sporting Goods Inc. reported Tuesday that net income for the quarter ended Oct. 29 surged to $41.5 million, from $16.9 million in the year-ago period.

Revenue rose 9% to $1.18 billion from $1.08 billion, beating Wall Street’s anticipated $1.16 billion in revenue.

Same-store sales rose 4.1%.

During the quarter, the retailer opened 19 Dick’s Sporting Goods stores; for the full year it opened 36 new Dick’s, remodeled 14 Dick’s and relocated one Golf Galaxy store, completing its 2011 store development program.

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