Dick's Sporting Goods has reported a 5.2% net sales increase for its first quarter ended May 2. Sales for the quarter totalled $959.7 million. The rise was attributed to the opening of new stores and the addition of e-commerce sales, although this was partially offset by a 6% decrease in comparable store sales.

Net income for the quarter was $10.2 million compared with $19.6 million during the same quarter last year.

"We are pleased to have generated better-than-expected same store sales and earnings results in the first quarter. Considering the continued difficult macro economic environment, our associates have done a great job growing the business while controlling expenses and managing inventory. We have a strong balance sheet, and in 2009 we expect to generate positive net operating cash flow in excess of what was generated last year," said Edward Stack, chairman and CEO.

During the first quarter, the company opened nine Dick's Sporting Goods stores and one Golf Galaxy store. One Chick's Sporting Goods store was converted to a Dick's Sporting Goods store. As of May 2, the Company operated 394 Dick's Sporting Goods stores in 39 states, 91 Golf Galaxy stores in 31 states and 13 Chick's Sporting Goods stores in California.