Dick’s Sporting Goods (DKS) Q1 earnings top estimates, outlook cut

Dick’s Sporting Goods said Wednesday it’s trimming its financial outlook for the year amid uncertain economic conditions, but that it isn’t yet seeing any dramatic shifts in its business.

On a call with analysts, Chief Executive Officer Lauren Hobart said she had confidence in Dick’s longer-term business strategy and in maintaining profitability. The company’s stock rallied after a stark sell-off in shares in early trading, when they sank to a fresh 52-week low of $63.45.

Dick’s shares were up more than 11% in early afternoon trading.

Despite the challenging economic…