Sports Authority Expects Profit
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Sports Authority Inc., the largest U.S. sporting goods retailer, expects to have a fiscal first-quarter profit on higher same-store sales and raised its earnings forecast for the year.
Per share earnings will be “slightly positive” in the quarter ending May 4, contrasted with a year-earlier loss of 16 cents and beating estimates. Sports Authority boosted its annual earnings forecast by 5 cents to 65 cents a share.
Shares of the Fort Lauderdale, Fla.-based company closed up $1.40 at $13.25 on the NYSE.
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