• Loading stock data...
Sunday, June 23, 2024

Dick’s Sporting Not-So-Good Revenue in Q1


Dick’s Sporting Goods reported $2.7 billion in first-quarter revenue, beating analysts’ estimates of $2.59 billion but falling from the $2.92 billion reported a year earlier.

With 729 regular stores and 129 specialty concept stores, the retailer posted $260.6 million in net income, down from $361.8 million the same period the year prior.

The company said loyalty members accounted for more than 70% of sales.

  • Same-store sales for locations open at least one year fell 8.4%, including digital sales.
  • Overall sales dropped 7.5% year-over-year. 

Dick’s cut its financial forecast, too. The company expects same-store sales to be down 2% to 8%, compared to its previous expectations to be flat to down 4%. Analysts expected same-store sales to drop 2.5% year-over-year.

The weak outlook has already affected Dick’s stock price — at one point on Wednesday, it reached a 52-week low of $63.45. 

Building Brands

Dick’s Sporting Goods continues to expand its offerings.

During the quarter, Dick’s and its outdoor concept store Public Lands announced a new in-store buy-back program with Out&Back Outdoor for outdoor gear in select markets. Earlier this month, Dick’s Calia brand — the company’s second-largest women’s apparel brand behind Nike — launched its first-ever golf collection.

Copy Link
Link Copied
Link Copied

What to Read


How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.

How Duracell is Making Fans Fall in Love with F1 Racing

Nobody expected this household brand to become F1’s newest darling.

Major League Rugby’s Vision for American Rugby

How Major League Rugby is leading the Rugby renaissance in the U.S.

ESPN Narrowly Avoids Disaster on Hurricanes-Rangers Broadcast

The network briefly switched playoff games in crunch time of Canes-Rangers.
podcast thumbnail mobile
Front Office Sports Today

How Women’s Sports Media is Charting Its Own Path


Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.
April 19, 2024

Nike Cuts Over 700 Jobs In Second Phase of Layoffs

“Nike’s always at our best when we’re on the offense,” the company says.
May 20, 2024

Fanatics Sues Marvin Harrison Jr., Says He Leaked ‘Misleading’ Info to ESPN

Harrison’s side says the two sides don’t have a contract, which Fanatics disputes.

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
March 1, 2024

The Next Women’s Sports Bar Is Inspired by Tennis’s Barrier Breaker

Althea Gibson is the namesake for a bar opening in New York.
December 28, 2023

2023 In Review: U.S. Sports Betting Goes Full Tilt

The arrival of ESPN Bet and Fanatics Sportsbook highlights a year of transformation for the business.
Fanatics is buying auction marketplace PWCC.
December 14, 2023

Trading Card Wars Unfold As Panini and Fanatics Clash in Legal Battles

Fanatics and Panini are embroiled in a lawsuit.
San Antonio Spurs center Victor Wembanyama dribbles up the court in the first half against the Dallas Mavericks at the Frost Bank Center.
November 22, 2023

Wembanyama Spurs Debut Jersey Fetches Record Auction Price

The jersey sold for $762,000 — the most ever for an NBA rookie.