(Reuters) - Dick's Sporting Goods Inc
The newspaper said Dick's and rival Foot Locker Inc
Dick's recently operated 511 of its namesake stores in 44 U.S. states, as well as 81 Golf Galaxy stores in 30 states. The newspaper said it expects to operate 900 stores before reaching a saturation point.
The Coraopolis, Pennsylvania-based company's shares have fallen 10 percent from their 52-week high set in September, hurt in part by investor concern over lower gun and ammunition sales following the December 14 massacre at an elementary school in Newtown, Connecticut.
Dick's at that time announced a suspension of the sale of so-called modern sporting rifles at its stores.
But the newspaper said investor concerns seem misplaced, given that guns and ammunition in general account for only a mid-single-digit percentage of Dick's sales.
It also said some retailers including Wal-Mart Stores Inc
Dick's shares closed Friday at $48.95 on the New York Stock Exchange, but the newspaper said they could reach $60 within 12 months if mid-teens earnings growth is achieved.
(Writing by Jonathan Stempel in New York; Editing by Dale Hudson)
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