Dick's Sporting Goods posts earnings of $1.13 a share vs $1.15 expected

A Dick's Sporting Goods store
Craig Warga | Bloomberg | Getty Images
A Dick's Sporting Goods store

Dick's Sporting Goods reported fourth-quarter earnings that missed analysts' expectations on Tuesday.

Shares of Dick's Sporting Goods were off more than 7 percent in premarket trading following the report. (Get the latest quote here.)

The company posted fourth-quarter earnings per share of $1.13, compared to $1.30 a share in the year-earlier period.

Revenue for the quarter came in at $2.24 billion, against the comparable year-ago figure of $2.16 billion. Fourth-quarter same store sales were down 2.5 percent.

Analysts had expected the company to report earnings of about $1.15 a share on $2.28 billion in revenue, according to a consensus estimate from Thomson Reuters.

In a statement, the company said it was pleased with its performance in the face of challenges during the quarter, including unseasonably warm weather.

Dick's Sporting Goods also forecast first-quarter earnings per share of 48 cents to 50 cents, and said it sees same-store sales in the quarter flat to up 1 percent.

For the full year, the retailer said it expects earnings of $2.85 to $3 a share, with same-store sales flat to up 2 percent.

In January, shares of Dick's saw a 5 percent pop on speculation that rival Sports Authority could close nearly half of its locations. Analysts estimated that the closures could lead to a $238 million sales bump for Dick's.

Last week, Sports Authority announced that it was filing for bankruptcy protection. As part of its restructuring plans, the company will close 140 locations and two of its distribution centers.