Dick’s Sporting Goods Reports 19.3 Percent Sales Growth in Fourth Quarter, 9.3 Percent for 2020
PITTSBURGH — Dick’s Sporting Goods (NYSE: DKS) reported 19.3 percent growth in same-store sales for its fiscal fourth quarter, which ended on Jan. 30, 2021, as well as a record-setting 9.3 percent sales growth for the full year 2020.
In addition to posting healthy sales within its brick-and-mortar stores as customers sought home workout equipment in lieu of visiting gyms amid the COVID-19 pandemic, the Pittsburgh-based retailer also reported year-over-year growth of 100 percent across its online sales platform.
E-commerce sales increased by 57 percent alone in the fourth quarter, though this figure represents a decline from the 95 percent growth in e-commerce sales that Dick’s Sporting Goods posted in its fiscal third quarter. The company recorded quarterly net sales of approximately $3.1 billion, nearly a 20 percent increase from the fourth quarter of 2019.
Dick’s Sporting Goods also opened a number of new stores in 2020 in markets such as Houston, San Antonio, Atlanta, Cape Cod and metro Boston and now operates about 730 stores throughout the country. The company’s stock price opened at $72 per share on Thursday, March 11, up from $30.56 per share a year ago.
“We’ve never had a year quite like 2020,” said Ed Stack, executive chairman and chief merchandising officer. “We were challenged in numerous ways, as were so many others, but as an organization we not only survived — we thrived, delivering record-setting sales and earnings.”