PITTSBURGH (BRAIN) — Dick’s Sporting Goods reported Tuesday that net sales for the second quarter were up 7.9 percent over the same period last year, reaching approximately $2 billion. Same-store sales were up 2.8 percent, much higher than what Dick’s had forecasted. The company expected a decline of 1 to 4 percent.
The company reported growth across several categories, but said that increased sales of camping equipment contributed to the sales growth. It also acknowledged that the recent liquidation of rival sporting goods stores was a factor.
“We are pleased with our second quarter results, particularly in light of the liquidation activity in the market,” said Edward W. Stack, chairman and CEO, referring to rivals Sport Chalet and Sports Authority, which held going out of business sales. “Looking ahead, we are focused on capturing the displaced market share and remain confident in our ability to strengthen our leadership position.”
Dick’s same-store growth was primarily driven by the company’s e-commerce sales, which were up 26 percent. Online sales accounted for about 8.5 percent of its net sales. The company reported a net income of $9.4 million, or 82 cents per diluted share, which was up …read more