Dick’s raises its forecast again while cautioning about the economy.

Dick’s Sporting Goods Inc. raised its outlook for the second quarter in a row while falling short of analyst expectations on gross margin.

Comparable-store sales are now expected to fall 1.5% to 3% this year, up from a 6% drop previously predicted. Earnings excluding certain items are now expected to range from $11.50 to $12.10, up from a low of $10 previously.

The forecast revisions are higher than Wall Street expected but still lower than the company’s eight-month guidance. Analysts had high expectations for the results, thanks in part to Foot Locker Inc.’s strong report last week.

Dick’s stock was up 0.9% at 9:30 a.m. New York time. This year, the stock has outperformed other sporting-goods retailers.

Dick’s cut its sales and profit forecasts earlier this year, citing an abundance of caution about the health of US consumers, despite the fact that no slowdown had occurred at the time. Last quarter, the company raised its forecast for both metrics.

At the same time, the gross margin of 34.2% fell short of the average estimate of 34.9%. Analysts have expressed concern about increased promotional activity as retailers grapple with higher inventory levels. High freight and labor costs continue to be a problem.