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

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 posted cautious guidance earlier this year as it braced for the 2024 election, but it now expects sales to be better than expected.

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, 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 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 (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)

Shares of Dick’s Sporting Goods Inc. ($DKS) were up more than 3% ahead of the company’s third-quarter earnings, lifting retail sentiment. Wall Street analysts expect Dick’s to announce earnings of $2.