Dick’s Sporting Goods Names Lauren Hobart as Next CEO (1)

Dick’s Sporting Goods Inc. named Lauren R. Hobart as its next chief executive officer, putting her among the rare women to lead a large corporation.

The sporting-goods retailer also released third-quarter earnings Tuesday, reporting an adjusted profit of $2.01 a share. That topped analysts’ estimate of $1.05, as compiled by Bloomberg. Same-store sales surged 23%.

Lauren Hobart

Photographer: Rebecca Hoolahan/Dick’s Sporting Goods

Investors sent Dick’s shares down as much as 5.3% in New York trading, after six straight sessions of gains. The stock was off 0.6% to $58.47 at 2:39 p.m., having risen 19% this year through Monday.

Hobart, 51, now president of the sporting-goods retailer, ...