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Dick’s Falls Most Since 2008 as Forecast Trails Estimates

Dick’s Sporting Goods Inc. sank the most since 2008 after forecasting annual profit that was less than analysts estimated on costs to remodel stores and improve its Web operations.

Shares of the largest U.S. sporting-goods chain slumped 11 percent to $45.11 at the close in New York for the steepest drop since Nov. 11, 2008. Dick’s had gained 11 percent this year through March 8, compared with an 8.8 percent gain for the Standard & Poor’s 500 Index.