Dick’s Sporting Goods Inc. jumped as much as 10 percent in early trading after boosting its annual forecast, a sign the chain will benefit from the demise of rival Sports Authority Inc.
The company now expects earnings of $2.90 to $3.05 a share, compared with a forecast of as much as $2.90 in May. Same-store sales -- a closely watched measure -- will gain 2 percent to 3 percent, Dick’s said in a statement Tuesday. It had previously said that the sales might decline 1 percent.
