Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 119 per cent sales growth to $2.9 billion in its first quarter (Q1) FY21 ended on May 1, 2021, compared to the sales of $1.3 billion in the corresponding period of previous fiscal. The company’s net income rose to $361.7 million (Q1 FY20: loss $143.4 million).

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 119 per cent sales growth to $2.9 billion in its first quarter (Q1) FY21 ended on May 1, 2021, compared to the sales of $1.3 billion in the corresponding period of previous fiscal. The company's net income rose to $361.7 million (Q1 FY20: loss $143.4 million).#

“We are very pleased to deliver another exceptionally strong quarter, achieving record first quarter sales and our highest-ever quarterly earnings, both significantly exceeding our expectations. The strength of our diverse category portfolio, supply chain, technology capabilities and omni-channel execution helped us continue to capitalise on strong consumer demand across golf, outdoor activities, home fitness and active lifestyle,” Lauren Hobart, president and chief executive officer at Dick’s Sporting Goods said.

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 119 per cent sales growth to $2.9 billion in its first quarter (Q1) FY21 ended on May 1, 2021, compared to the sales of $1.3 billion in the corresponding period of previous fiscal. The company's net income rose to $361.7 million (Q1 FY20: loss $143.4 million).#

Gross profit for the quarter increased to $1.0 billion ($219.3 million), while selling, general and administrative expenses were $608.3 million ($403.2 million). The company’s income from operations surged to $475.8 million (loss: $186.1 million).

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 119 per cent sales growth to $2.9 billion in its first quarter (Q1) FY21 ended on May 1, 2021, compared to the sales of $1.3 billion in the corresponding period of previous fiscal. The company's net income rose to $361.7 million (Q1 FY20: loss $143.4 million).#

According to the company, an increase in its sales was driven by 115 per cent growth in consolidated same store sales during Q1 FY21, which included e-commerce sales rise of 14 per cent.

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 119 per cent sales growth to $2.9 billion in its first quarter (Q1) FY21 ended on May 1, 2021, compared to the sales of $1.3 billion in the corresponding period of previous fiscal. The company's net income rose to $361.7 million (Q1 FY20: loss $143.4 million).#

“We also saw a resurgence in our team sports business as kids began to get back out on the field after a year in which many youth sports activities were delayed or cancelled,” Hobart added. “Looking ahead, we remain very enthusiastic about our business and are pleased to increase our full year sales and earnings outlook.”