• Q1 net income up 30%
  • Same-store sales rise 2.1%

Dick's Sporting Goods has boosted its net income to US$37.5m for the first quarter of the year, up from $26.2m during the same period last year, on the back of strong sales.

Net sales for the first quarter of 2011 increased by 6.3% to $1.1bn due primarily to a 2.1% increase in consolidated same store sales and the opening of new stores, Dick's said.

"In the first quarter, we demonstrated our ability to effectively run our business and generate better than expected earnings, despite unfavourable weather conditions in many of our markets," said Edward W Stack, chairman and CEO of the company.

In the first quarter, the company opened three Dick's Sporting Goods stores. As of 30 April, the company operated 447 Dick's Sporting Goods stores in 42 US states.

The company's outlook for 2011 is for same-store sales to increase approximately 3.0% compared to a 7.4% increase last year.