CORRECTED - CORRECTED-UPDATE 1-Dick's Sporting Q3 beats Street; 2008 profit

(Corrects periods in headline)

* Q3 EPS 8 cents beats Street by 1 cent

* Cuts full-year earnings outlook

Nov 20 (Reuters) - Dick's Sporting Goods Inc (DKS.N) posted a quarterly profit that edged past market estimates, but cut its full-year earnings outlook, citing uncertainty in the overall economic environment.

The sporting goods retailer said consumer behaviour approaching the holiday season is unpredictable and expects earnings of $1.06 to $1.13 a share for the year, including integration costs.

It had earlier forecast a profit of $1.27 to $1.36 a share.

Many retailers have been hurt by the ongoing downturn in the U.S. consumer market as more and more buyers stop short of spending on non-essentials.

The company, which operated 384 Dick's Sporting Goods stores as of Nov. 1, expects its same-store sales to fall between 6 percent and 10 percent in the fourth quarter.

For the third quarter ended Nov. 1, the company posted net income of $7.4 million, or 6 cents a share, compared with $12.2 million, or 10 cents a share, a year earlier.

Excluding the impact of costs related to the Golf Galaxy integration, the company earned 8 cents a share. Analysts on average were expecting a profit of 7 cents a share, before items, according to Reuters Estimates.

Sales rose 10 percent to $924.2 million, driven mainly by new stores. It opened 26 Dick's Sporting Goods stores and one Golf Galaxy store during the quarter.

Shares of the Pittsburgh-based company were up 3 percent in early morning trade Thursday on the New York Stock Exchange.

For the alerts, please double-click [ID:nWNAB5779] . (Reporting by Santosh Nadgir in Bangalore; Editing by Pratish Narayanan)