Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company’s net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
“We said 2021 was going to be the most transformational year in our history, and so far, it certainly has been. We continue to perform at a very high level and invest in our future to reimagine the athlete experience in our core business and with new concepts,” Ed Stack, executive chairman at Dick's Sporting Goods, said in a press release.
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
The e-commerce sales for the quarter decreased 28 per cent compared to three-months ended on August 1, 2020, due to temporary store closures for a certain period. However, e-commerce penetration to the overall sales was approximately 30 per cent in the reported period.
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
Gross profit for the second quarter escalated to $1.3 billion ($936.8 million), while income from operations expanded to $663.5 million ($391.3 million).
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
“Our record-breaking quarterly sales and earnings significantly exceeded our expectations, reflecting continued strong consumer demand across our diverse category portfolio along with the strength of our omni-channel offering and elevated athlete experience,” 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, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
In its outlook for the fiscal 2021, the American retailer said that it expects the sales to grow 21 per cent in the range between $11.5 billion to $11.7 billion, up from previous estimate around $10.5 billion to $10.7 billion.
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, recorded 20.7 per cent sales growth to $3.7 billion in the second quarter (Q2) of FY21 ended on July 31, 2021, against the sales of $2.7 billion in the corresponding period of last fiscal. The company's net income in Q2 ballooned to $495.5 million (Q2 FY20: $276.8 million).#
“Based on the strength of our business and our expectations for continued strong consumer demand, we are pleased to increase our full year sales and earnings outlook for the second time this year,” Hobart concluded in the release.
Fibre2Fashion News Desk (JL)
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