Dick’s Sporting Goods Posts Higher Sales. Why the Stock Is Sliding After Earnings.

Dick’s Sporting Goods narrowly cleared the bar for the first quarter but a cut in its full-year earnings outlook and cautious guidance sent shares sliding Wednesday. The Pennsylvania-based retailer posted first-quarter adjusted earnings of $2. 90 a share, a touch above analysts’ calls for $2. 89.

Although the company raised the low end of its full-year comparable sales outlook for both the Dick’s and Foot Locker franchises, Dick’s now sees earnings of $13. 27 to $14. 27 a share, compared with a prior range of $13. 70 to $14. 70.