Dick’s Sporting Goods’ fourth-quarter revenue grew 7% year-over-year to a record $3.35 billion — up 28.5% from 2019 and beating analysts’ estimates of $3.31 billion.
Net income reached $346.1 million, a significant increase from the $219.6 million it recorded during the same period last year.
Same-store sales — which included revenue from online and stores open for at least one full year — jumped 5.9%, surpassing analysts’ estimates of a 4.3% increase.
- Dick’s retail stores saw sales rise 14% year-over-year.
- Though online sales fell 11%, e-commerce sales soared 57% in 2020. The company recently announced a new ad campaign starring Charles Barkley that focuses on its retail site.
- Inventory at the end of the fourth quarter grew 17.6% compared to the same time last year.
The company’s full-year revenue reached a record $12.29 billion, a 28.3% increase from fiscal 2020, with consolidated same-store sales ballooning 26.5% from the previous year.
During its fiscal year, Dick’s opened its first Golf Galaxy Performance Center, House of Sport, Public Lands, and discount store Going, Going, Gone, and also announced a new partnership with Nike.
Over the course of the 12 months, Dick’s Sporting Goods issued $1.5 billion of senior unsecured notes — of which $750 million is due in 2032 and that same amount in 2052 — and returned $1.8 billion to shareholders. Dick’s also announced an 11% increase in its quarterly dividend.
The sporting goods retailer is reporting an 8% market share.