UPDATE: Dick's Sporting Goods Posts Rise In Q1 Profit, Raises 2012 Forecast

Dick's Sporting Goods Inc

reported a rise in its first-quarter profit. Dick's Sporting Goods posted its quarterly profit at $57.2 million, or $0.45 per share, up from $37.5 million, or $0.30 per share, in the year-ago period. Its sales surged 15% to $1.3 billion, while same-store sales gained 8%. Analysts were expecting earnings of $0.38 per share on sales of $1.2 billion. Dick's Sporting Goods lifted its 2012 earnings forecast to a range of $2.45 to $2.48 per share, versus its earlier forecast of $2.38 to $2.41 per share. However, analysts were expecting earnings of $2.43 per share. Dick's Sporting Goods shares gained 4.78% to $49.50 in pre-market trading.