Dick’s Sporting Goods came up short on same-store sales growth in its first quarter amid what the company called “a challenging retail environment.”

Dick’s, the nation’s largest sporting goods retailer, also announced it has conducted a corporate reorganization to streamline its operations and reduce expense. In the second quarter, it expects to record a pre-tax charge of approximately $7 million for severance and other employee-related costs associated with the elimination of positions, primarily at the company’s store support center.

The company reported net income of $58.2 million, or 52 cents per share, for the first quarter, compared to $56.9 million, or 50 cents per share, in the year-ago period. Adjusted EPS was…