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Record Quarter

    • This article was first published in the FOS Daily Newsletter. Subscribe here.
    • Dick’s Sporting Goods digital sales made up 30% of its quarterly revenue.
Dick's Sporting Goods
Maggie Gilroy / Binghamton Press & Sun Bulletin via Imagn

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Dick’s Sporting Goods had a record second quarter, posting $276.8 million in profit on $2.7 billion in sales. Digital sales soared 194%.

Despite store closures for parts of the quarter, online and curbside orders nearly tripled compared to the same quarter in 2019. Digital sales represented 30% of the company’s revenue in the quarter, up from 12% in 2019.

Prior to Wednesday, Dick’s shares were down 6% for the year, but with the earnings report shares have now jumped 12% year to date.

Key Takeaways: 

— Sales increased 20% year-over-year

— Income grew 148%

— Online sales increased 194%

— Online sales accounted for 30% of revenue

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