Exhibit 99.1

		PRESS RELEASE

Dick’s Sporting Goods Reports Fourth Quarter and Full Year 2010 Results

	•		Consolidated non-GAAP earnings per diluted share increased by 36% to $0.76 in the fourth quarter of 2010 from consolidated earnings per diluted share of $0.56 in the fourth quarter of 2009
	•		Consolidated same store sales increased 9.4% in the fourth quarter of 2010
	•		Full year consolidated non-GAAP earnings per diluted share increased 36% to $1.63 from 2009 consolidated non-GAAP earnings per diluted share of $1.20

PITTSBURGH, Pa., March 8, 2011 — Dick’s Sporting Goods, Inc. (NYSE: DKS) today reported sales and earnings results for the fourth quarter and full year ended January 29, 2011.

Fourth Quarter Results

The Company reported consolidated non-GAAP net income for the fourth quarter ended January 29, 2011 of $94.0 million, or $0.76 per diluted share, excluding an after-tax charge of $6.5 million, or $0.05 per diluted share from litigation settlement costs. These costs are from the previously disclosed fourth quarter settlement of wage and hour class action lawsuits and are included in selling, general and administrative expenses. The fourth quarter consolidated non-GAAP earnings per diluted share exceeded estimated earnings expectations provided on November 16, 2010 of $0.69 - 0.71 per diluted share.

On a GAAP basis, the Company reported consolidated net income for the fourth quarter ended January 29, 2011 of $87.5 million, or $0.71 per diluted share. The GAAP to non-GAAP reconciliations are included in a table later in the release under the heading “Non-GAAP Net Income and Earnings Per Share Reconciliation.” For the fourth quarter ended January 30, 2010, the Company reported consolidated net income of $67.4 million, or $0.56 per diluted share (GAAP and non-GAAP).

Net sales for the fourth quarter of 2010 increased by 13.6% from the fourth quarter of 2009 to $1,518.9 million due primarily to a 9.4% increase in consolidated same store sales and the opening of new stores. The 9.4% consolidated same store sales increase consisted of an 8.6% increase at Dick’s Sporting Goods stores, a 2.2% increase at Golf Galaxy and a 36.3% increase in our e-commerce business.

“In 2010, we generated significant earnings growth while maintaining our focus on strengthening our balance sheet,” said Edward W. Stack, Chairman and CEO. “We have successfully navigated the storms of the recession and have executed our business plan by posting six consecutive quarters of same store sales gains, opening 26 new stores in 2010, expanding our margin rates and reducing inventory per square foot. As a result, we are solidly positioned to generate further growth and increased operating margins in the coming years.”

Stores

In the fourth quarter, the Company opened eight new Dick’s Sporting Goods stores, remodeled one Dick’s Sporting Goods store, relocated one Dick’s Sporting Goods store, closed one Dick’s Sporting Goods Store and opened two new Golf Galaxy stores. The new stores are listed in a table later in the release under the heading “Store Count and Square Footage.”

As of January 29, 2011, the Company operated 444 Dick’s Sporting Goods stores in 42 states, with approximately 24.6 million square feet and 81 Golf Galaxy stores in 30 states, with approximately 1.3 million square feet.

Balance Sheet

The Company ended the fourth quarter of 2010 with $546 million in cash and cash equivalents and did not have any outstanding borrowings under its $440 million revolving credit facility. At the end of the fourth quarter of 2009, the Company had $226 million in cash and cash equivalents and did not have any outstanding borrowings under its credit facility.

The inventory per square foot was 4.1% lower at the end of the fourth quarter 2010 as compared to the end of the fourth quarter 2009.

Full Year Results

The Company reported consolidated non-GAAP net income for the 52 weeks ended January 29, 2011 of $198.4 million, or $1.63 per diluted share. Non-GAAP earnings exclude Golf Galaxy store closing costs and litigation settlement costs. For the 52 weeks ended January 30, 2010, the Company reported consolidated non-GAAP net income of $141.4 million, or $1.20 per diluted share, which excluded merger and integration costs.

On a GAAP basis, the Company reported consolidated net income for the 52 weeks ended January 29, 2011 of $182.1 million, or $1.50 per diluted share, compared to $135.4 million, or $1.15 per diluted share for the 52 weeks ended January 30, 2010. The GAAP to non-GAAP reconciliations are included later in the release under the heading “Non-GAAP Net Income and Earnings Per Share Reconciliation.”

Net sales for the full year 2010 increased 10.4% to $4,871.5 million due primarily to a 7.4% increase in consolidated same store sales and the opening of new stores.

Current 2011 Outlook

The Company’s current outlook for 2011 is based on current expectations and includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, as described later in this release. Although the Company believes that comments reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.

v

Full Year 2011

	•		Based on an estimated 125 million diluted shares outstanding, the Company currently anticipates reporting consolidated earnings per diluted share of approximately $1.89 — 1.91. For the full year 2010, the Company reported consolidated earnings per diluted share of $1.63, excluding Golf Galaxy store closing costs and litigation settlement costs. On a GAAP basis, the Company reported consolidated earnings per diluted share of $1.50 in 2010.
	•		Consolidated same store sales are currently expected to increase approximately 3%. The same store sales calculation for the full year 2011 includes Dick’s Sporting Goods stores, Golf Galaxy stores and the Company’s e-commerce business.
	•		The Company currently expects to open approximately 34 new Dick’s Sporting Goods stores, remodel 13 Dick’s Sporting Goods stores and open approximately three new Golf Galaxy stores in 2011.

v

First Quarter 2011

	•		Based on an estimated 124 million diluted shares outstanding, the Company anticipates reporting consolidated earnings per diluted share of approximately $0.26 — 0.28 in the first quarter of 2011. In the first quarter of 2010, the Company reported earnings per diluted share of $0.22.
	•		Consolidated same store sales are expected to increase approximately 4 — 5%. The same store sales calculation for the first quarter 2011 includes Dick’s Sporting Goods stores, Golf Galaxy stores and the Company’s e-commerce business.
	•		The Company expects to open approximately three new Dick’s Sporting Goods stores in the first quarter of 2011.

Conference Call Info

The Company will be hosting a conference call today at 10:00 a.m. eastern time to discuss the fourth quarter and full year results. Investors will have the opportunity to listen to the earnings conference call over the internet through the Company’s web site located at http://www.dickssportinggoods.com/investors. To listen to the live call, please go to the web site at least fifteen minutes early to register and download and install any necessary audio software.

For those who cannot listen to the live webcast, it will be archived on the Company’s web site for 30 days. In addition, a dial-in replay will be available shortly after the call. To listen to the replay, investors should dial 888-286-8010 (domestic callers) or 617-801-6888 (international callers) and enter confirmation code 60701090. The dial-in replay will be available for 30 days following the live call.

Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify these statements as those that may predict, forecast, indicate or imply future results, performance or advancements and by forward-looking words such as “believe”, “anticipate”, “expect”, “will”, “will be”, “will continue”, “will result”, “could”, “may”, “might”, or any variations of such words or other words with similar meanings. Forward-looking statements address, among other things, our expectations, our growth strategies, including our plans to open new stores, our efforts to increase profit margins and return on invested capital, plans to grow our private brand business, projections of our future profitability, results of operations, capital expenditures, our financial condition or other “forward-looking” information and include statements about revenues, earnings, spending, margins, costs, liquidity, store openings and operations, inventory, private brand products, our actions, plans or strategies. The following factors, among others, in some cases have affected and in the future could affect our financial performance and actual results, and could cause actual results for fiscal 2011 and beyond to differ materially from those expressed or implied in any forward-looking statements included in this release or otherwise made by our management: the current economic and financial downturn may cause a continued decline in consumer spending; changes in macroeconomic factors and market conditions, including the housing market and fuel costs, that impact the level of consumer spending for the types of merchandise we sell; changes in general economic and business conditions and in the specialty retail or sporting goods industry in particular; our quarterly operating results and same store sales may fluctuate substantially; potential volatility in our stock price; our ability to access adequate capital and the tightening of availability and higher costs associated with current and new sources of credit resulting from uncertainty in financial markets; the intense competition in the sporting goods industry and actions by our competitors; the current financial and economic crisis may adversely affect our landlords and real estate developers of retail space, which may limit the availability of attractive store locations; risks that could affect our ability to grow our number of stores, including the availability of retail store sites on terms acceptable to us, the cost of real estate and other items related to our stores, and our inability to manage our growth, open new stores on a timely basis or expand successfully in new and existing markets; changes in consumer demand;

unauthorized disclosure of sensitive, personal or confidential information; risks associated with our private brand offerings, including fluctuations in the cost of products resulting from increases in raw material prices and other factors; reliance on foreign sources of production; compliance with government and industry safety standards; and intellectual property risks; our relationships with our vendors, including potential increases in the costs of their products and our ability to pass those cost increases on to our customers, their ability to maintain their inventory and production levels and their ability or willingness to provide us with sufficient quantities of products at acceptable prices; risks and costs relating to the products we sell, including: product liability claims and the availability of recourse to third parties, including under our insurance policies; product recalls; and the regulation of and other hazards associated with certain products we sell, such as hunting rifles and ammunition; disruptions in our or our vendors’ supply chain, including as a result of political instability, foreign trade issues, the impact of economic or financial downturn on distributors or other reasons; the loss of our key executives, especially Edward W. Stack, our Chairman and Chief Executive Officer; currency exchange rate fluctuations; costs and risks associated with increased or changing laws and regulations affecting our business, including those relating to labor, employment and the sale of consumer products; risks relating to operating as a multi-channel retailer, including the impact of rapid technological change, internet security and privacy issues, the threat of systems failure or inadequacy, increased or changing governmental regulation and increased competition; risks relating to problems with or disruption of our current management information systems; any serious disruption at our distribution facilities; the seasonality of our business; regional risks because our stores are generally concentrated in the eastern half of the United States; the outcome of litigation or other legal actions against us; risks relating to operational and financial restrictions imposed by our senior secured revolving credit agreement; risks associated with our pursuit of strategic acquisitions, including costs and uncertainties associated with combining businesses and/or assimilating acquired companies; our ability to meet our labor needs; we are controlled by our Chief Executive Officer and his relatives, whose interests may differ from those of our other stockholders; the impact on the U.S. retail environment of foreign instability and conflict; our ability to secure and protect our trademarks, patents and other intellectual property; our current anti-takeover provisions could prevent or delay a change in control of the Company; impairment in the carrying value of goodwill or other acquired intangibles; and changes in our business strategies.

Known and unknown risks and uncertainties are more fully described in the Company’s Annual Report on Form 10-K for the year ended January 30, 2010 as filed with the Securities and Exchange Commission (“SEC”) on March 18, 2010, and other reports filed with the SEC. The Company disclaims any obligation and does not intend to update any forward-looking statements except as may be required by the securities laws.

About Dick’s Sporting Goods, Inc.

Dick’s Sporting Goods, Inc. is an authentic full-line sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel and footwear in a specialty store environment. The Company also owns and operates Golf Galaxy, LLC, a multi-channel golf specialty retailer. As of January 29, 2011, the Company operated 444 Dick’s Sporting Goods stores in 42 states, 81 Golf Galaxy stores in 30 states and e-commerce and catalog operations for both Dick’s Sporting Goods and Golf Galaxy. The Company’s SEC filings, press releases and reconciliation information required pursuant to Regulation G under the Securities Exchange Act of 1934, as amended, are available at www.dickssportinggoods.com/investors. The Company’s website is not part of this press release.

Contact:

Timothy E. Kullman, EVP — Finance, Administration and Chief Financial Officer or
Anne-Marie Megela, Director, Investor Relations
724-273-3400
investors@dcsg.com

DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
(In thousands, except per share data)

		13 Weeks Ended
		January 29,				% of				January 30,				% of
		2011				Sales(1)				2010				Sales
Net sales		$	1,518,914				100.00	%		$	1,336,590				100.00	%
Cost of goods sold, including occupancy and distribution costs			1,039,320				68.43				946,809				70.84
GROSS PROFIT			479,594				31.57				389,781				29.16
Selling, general and administrative expenses			332,305				21.88				276,727				20.70
Pre-opening expenses			1,298				0.09				(15	)			(0.00	)
INCOME FROM OPERATIONS			145,991				9.61				113,069				8.46
Interest expense			3,487				0.23				908				0.07
Other income			(1,058	)			(0.07	)			(367	)			(0.03	)
INCOME BEFORE INCOME TAXES			143,562				9.45				112,528				8.42
Provision for income taxes			56,073				3.69				45,168				3.38
NET INCOME		$	87,489				5.76	%		$	67,360				5.04	%
EARNINGS PER COMMON SHARE:
Basic		$	0.74							$	0.59
Diluted		$	0.71							$	0.56
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic			117,952								114,640
Diluted			124,063								119,666

DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME — UNAUDITED
(In thousands, except per share data)

		52 Weeks Ended
		January 29,				% of				January 30,				% of
		2011				Sales				2010				Sales
Net sales		$	4,871,492				100.00	%		$	4,412,835				100.00	%
Cost of goods sold, including occupancy and distribution costs			3,422,462				70.25				3,195,899				72.42
GROSS PROFIT			1,449,030				29.75				1,216,936				27.58
Selling, general and administrative expenses			1,129,293				23.18				972,025				22.03
Merger and integration costs			—				—				10,113				0.23
Pre-opening expenses			10,488				0.22				9,227				0.21
INCOME FROM OPERATIONS			309,249				6.35				225,571				5.11
Interest expense			14,016				0.29				4,543				0.10
Other income			(2,278	)			(0.05	)			(2,148	)			(0.05	)
INCOME BEFORE INCOME TAXES			297,511				6.11				223,176				5.06
Provision for income taxes			115,434				2.37				87,817				1.99
NET INCOME		$	182,077				3.74	%		$	135,359				3.07	%
EARNINGS PER COMMON SHARE:
Basic		$	1.57							$	1.20
Diluted		$	1.50							$	1.15
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic			116,236								113,184
Diluted			121,724								117,955

DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS — UNAUDITED
(Dollars in thousands)

		January 29,				January 30,
		2011				2010
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	546,052			$	225,611
Accounts receivable, net			34,978				35,435
Income taxes receivable			9,050				8,420
Inventories, net			896,895				895,776
Prepaid expenses and other current assets			58,394				57,119
Deferred income taxes			18,961				—
Total current assets			1,564,330				1,222,361
Property and equipment, net			684,886				662,304
Intangible assets, net			51,070				47,557
Goodwill			200,594				200,594
Other assets:
Deferred income taxes			27,157				66,089
Investments			10,789				10,880
Other			58,710				35,548
Total other assets			96,656				112,517
TOTAL ASSETS		$	2,597,536			$	2,245,333
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable		$	446,511			$	431,366
Accrued expenses			279,284				246,414
Deferred revenue and other liabilities			121,753				108,230
Income taxes payable			—				8,687
Current portion of other long-term debt and leasing obligations			995				978
Total current liabilities			848,543				795,675
LONG-TERM LIABILITIES:
Revolving credit borrowings			—				—
Other long-term debt and leasing obligations			139,846				141,265
Deferred revenue and other liabilities			245,566				225,166
Total long-term liabilities			385,412				366,431
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Common stock			938				898
Class B common stock			250				250
Additional paid-in capital			625,184				526,715
Retained earnings			730,468				548,391
Accumulated other comprehensive income			6,741				6,973
Total stockholders’ equity			1,363,581				1,083,227
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY		$	2,597,536			$	2,245,333

DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS — UNAUDITED
(Dollars in thousands)

		52 Weeks Ended
		January 29,				January 30,
		2011				2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income		$	182,077			$	135,359
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization			110,394				100,948
Amortization of discount on convertible notes			—				321
Deferred income taxes			18,005				9,151
Stock-based compensation			24,828				21,314
Excess tax benefit from exercise of stock options			(22,177	)			(16,041	)
Tax benefit from exercise of stock options			1,281				1,276
Other non-cash items			1,538				1,588
Changes in assets and liabilities:
Accounts receivable			9,265				6,823
Inventories			(1,119	)			(41,005	)
Prepaid expenses and other assets			(1,970	)			(24,996	)
Accounts payable			(2,251	)			132,858
Accrued expenses			23,965				33,785
Income taxes receivable/payable			11,796				19,658
Deferred construction allowances			11,170				9,046
Deferred revenue and other liabilities			23,165				11,244
Net cash provided by operating activities			389,967				401,329
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures			(159,067	)			(140,269	)
Proceeds from sale-leaseback transactions			19,953				31,640
Deposits and purchases of other assets			(22,021	)			—
Net cash used in investing activities			(161,135	)			(108,629	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Revolving credit borrowings, net			—				—
Repayment of convertible notes			—				(172,500	)
Payments on other long-term debt and leasing obligations			(934	)			(2,566	)
Construction allowance receipts			—				7,022
Proceeds from sale of common stock under employee stock purchase plan			—				1,199
Proceeds from exercise of stock options			52,952				9,375
Excess tax benefit from exercise of stock options			22,177				16,041
Increase (decrease) in bank overdraft			17,396				(605	)
Net cash provided by (used in) financing activities			91,591				(142,034	)
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			18				108
NET INCREASE IN CASH AND CASH EQUIVALENTS			320,441				150,774
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD			225,611				74,837
CASH AND CASH EQUIVALENTS, END OF PERIOD		$	546,052			$	225,611
Supplemental disclosure of cash flow information:
Construction in progress — leased facilities		$	—			$	(52,054	)
Accrued property and equipment		$	8,905			$	(1,656	)
Cash paid for interest		$	12,384			$	4,501
Cash paid for income taxes		$	85,230			$	63,378

Store Count and Square Footage

The stores that opened during the fourth quarter of 2010 are as follows:

DICK’S
Store		Market
Dubuque, IA		Dubuque
Paducah, KY		Carbondale
Madison, MS		Jackson
Port Huron, MI		Detroit
Metairie, LA		New Orleans
Danbury, CT		New Haven
Gastonia, NC		Charlotte
Westminster, MD		Baltimore

GOLF GALAXY
Store		Market
East Hanover, NJ		New Jersey — North
Burlington, MA		Boston

The following represents a reconciliation of beginning and ending stores and square footage for the periods indicated:

		Fiscal 2010												Fiscal 2009
		Dick’s												Dick’s								Chick’s
		Sporting				Golf								Sporting				Golf				Sporting
		Goods				Galaxy				Total				Goods				Galaxy				Goods				Total
Beginning stores			419				91				510				384				89				14				487
Q1 New			5				—				5				9				1				—				10
Q2 New			1				—				1				4				—				—				4
Q3 New			12				—				12				11				—				—				11
Q4 New			8				2				10				—				—				—				—
			445				93				538				408				90				14				512
Closed			(1	)			(12	)			(13	)			(1	)			—				(2	)			(3	)
Converted			—				—				—				12				1				(12	)			1
Ending stores			444				81				525				419				91				—				510
Remodeled stores			12				—				12				—				—				—				—
Relocated stores			2				—				2				1				—				—				1

Square Footage:
(in millions)

						Dick’s								Chick’s
						Sporting				Golf				Sporting
						Goods				Galaxy				Goods				Total
	Q1 2009						22.0				1.5				0.6				24.1
	Q2 2009						22.7				1.5				—				24.2
	Q3 2009						23.4				1.5				—				24.9
	Q4 2009						23.3				1.5				—				24.8
	Q1 2010						23.6				1.5				—				25.1
	Q2 2010						23.7				1.5				—				25.2
	Q3 2010						24.3				1.3				—				25.6
	Q4 2010						24.6				1.3				—				25.9

Non-GAAP Financial Measures

In addition to reporting the Company’s financial results in accordance with generally accepted accounting principles (“GAAP”), the Company provides information regarding net income and earnings per diluted share adjusted to exclude a litigation settlement charge and Golf Galaxy store closing costs; earnings before interest, taxes and depreciation, adjusted to exclude certain significant gains and losses (“Adjusted EBITDA”); a reconciliation from the Company’s gross capital expenditures net of tenant allowances; and calculations of consolidated and Dick’s Sporting Goods new store productivity. These measures are considered non-GAAP and are not preferable to GAAP financial information; however, the Company believes this information provides additional measures of performance that the Company’s management, analysts and investors can use to compare core, operating results between reporting periods. These non-GAAP measures are provided below and on the Company’s website at http://www.dickssportinggoods.com/investors.

Non-GAAP Net Income and Earnings Per Share Reconciliation
(in thousands, except per share data):

		13 Weeks Ended January 29, 2011
						Litigation
		As				Settlement				Non-GAAP
		Reported				Charge				Total
Net sales		$	1,518,914			$	—			$	1,518,914
Cost of goods sold, including occupancy and distribution costs			1,039,320				—				1,039,320
GROSS PROFIT			479,594				—				479,594
Selling, general and administrative expenses			332,305				(10,821	)			321,484
Pre-opening expenses			1,298				—				1,298
INCOME FROM OPERATIONS			145,991				10,821				156,812
Interest expense			3,487				—				3,487
Other income			(1,058	)			—				(1,058	)
INCOME BEFORE INCOME TAXES			143,562				10,821				154,383
Provision for income taxes			56,073				4,328				60,401
NET INCOME		$	87,489			$	6,493			$	93,982
EARNINGS PER COMMON SHARE:
Basic		$	0.74							$	0.80
Diluted		$	0.71							$	0.76
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic			117,952								117,952
Diluted			124,063								124,063

During the fourth quarter of 2010, the Company recorded a pre-tax charge of $10.8 million relating to a litigation settlement. The provision for income taxes was calculated at 40%, which approximates the Company’s blended tax rate.

		52 Weeks Ended January 29, 2011
						Golf Galaxy				Litigation
		As				Store Closing				Settlement				Non-GAAP
		Reported				Costs				Charge				Total
Net sales		$	4,871,492			$	—			$	—			$	4,871,492
Cost of goods sold, including occupancy and distribution costs			3,422,462				—				—				3,422,462
GROSS PROFIT			1,449,030				—				—				1,449,030
Selling, general and administrative expenses			1,129,293				(16,376	)			(10,821	)			1,102,096
Pre-opening expenses			10,488				—				—				10,488
INCOME FROM OPERATIONS			309,249				16,376				10,821				336,446
Interest expense			14,016				—				—				14,016
Other income			(2,278	)			—				—				(2,278	)
INCOME BEFORE INCOME TAXES			297,511				16,376				10,821				324,708
Provision for income taxes			115,434				6,550				4,328				126,312
NET INCOME		$	182,077			$	9,826			$	6,493			$	198,396
EARNINGS PER COMMON SHARE:
Basic		$	1.57											$	1.71
Diluted		$	1.50											$	1.63
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic			116,236												116,236
Diluted			121,724												121,724

Golf Galaxy store closing costs include the Company’s lease exposure relating to the closure of 12 underperforming Golf Galaxy stores in the third quarter of 2010. During the fourth quarter of 2010, the Company recorded a pre-tax charge of $10.8 million relating to a litigation settlement. The provision for income taxes was calculated at 40%, which approximates the Company’s blended tax rate.

Refer to the Company’s press release dated March 9, 2010 announcing its results for the fourth fiscal quarter ended January 30, 2010 for a reconciliation of non-GAAP net income and earnings per share for the 52 weeks ended January 30, 2010.

Adjusted EBITDA

Adjusted EBITDA should not be considered as an alternative to net income or any other GAAP measure of performance or liquidity and may not be comparable to similarly titled measures reported by other companies. Adjusted EBITDA is a key metric used by the Company that provides a measurement of profitability that eliminates the effect of changes resulting from financing decisions, tax regulations, capital investments and other significant items that may vary from period to period and have a disproportionate effect in a given period, which affects the comparability of results. Adjusted EBITDA was determined as follows:

		13 Weeks Ended
		January 29,				January 30,
		2011				2010
		(dollars in thousands)
Net income		$	87,489			$	67,360
Provision for income taxes			56,073				45,168
Interest expense			3,487				908
Depreciation and amortization			30,083				24,989
EBITDA			177,132				138,425
Add: Litigation settlement			10,821				—
Adjusted EBITDA, as defined		$	187,953			$	138,425
% increase in Adjusted EBITDA			36	%

		52 Weeks Ended
		January 29,				January 30,
		2011				2010
		(dollars in thousands)
Net income		$	182,077			$	135,359
Provision for income taxes			115,434				87,817
Interest expense			14,016				4,543
Depreciation and amortization			110,394				100,948
EBITDA			421,921				328,667
Add: Litigation settlement			10,821				—
Add: Golf Galaxy store closing costs			16,376				—
Add: Merger and integration costs			—				10,113
Less: Depreciation and amortization (merger integration)			—				(2,478	)
Adjusted EBITDA, as defined		$	449,118			$	336,302
% increase in Adjusted EBITDA			34	%

Reconciliation of Gross Capital Expenditures to Net Capital Expenditures

The following table represents a reconciliation of the Company’s gross capital expenditures to its capital expenditures, net of tenant allowances.

		52 Weeks Ended
		January 29,				January 30,
		2011				2010
		(dollars in thousands)
Gross capital expenditures		$	(159,067	)		$	(140,269	)
Proceeds from sale-leaseback transactions			19,953				31,640
Changes in deferred construction allowances			11,170				9,046
Construction allowance receipts			—				7,022
Net capital expenditures		$	(127,944	)		$	(92,561	)

New Store Productivity Calculation

The following calculations represent: (1) the new store productivity calculation on a consolidated basis; and (2) the new store productivity calculation for Dick’s Sporting Goods for the quarter ended January 29, 2011. Golf Galaxy stores and the Company’s e-commerce business are excluded from the Dick’s Sporting Goods only calculation. New store productivity compares the sales increase for all stores not included in the comparable sales calculation with the increase in store square footage.

		Consolidated								Dick’s Sporting Goods Only
		13 Weeks Ended								13 Weeks Ended
		January 29,				January 30,				January 29,				January 30,
		2011				2010				2011				2010
Sales % increase for the period			13.6	%							13.7	%
Comparable sales % increase for the period			9.4	%							8.6	%
New store sales % increase (A) (1)			4.2	%							5.0	%
Store square footage (000’s):
Beginning of period			25,556				24,864				24,262				23,384
End of period			25,900				24,816				24,568				23,337
Average for the period			25,728				24,840				24,415				23,361
Average square footage % increase for the period (B)			3.6	%							4.5	%
New store productivity (A)/(B) (1)			118.6	%							111.0	%