Dick’s Sporting Goods expects FY21 net sales to improve by 21 percent

Net sales at Dick’s Sporting Goods for the second quarter of 2021 were 3.27 billion dollars, an increase of 20.7 percent and a 45 percent increase compared to the second quarter of 2019.

The company said, consolidated same store sales for the quarter increased 19.2 percent, which followed consolidated same store sales increases of 20.7 percent in the second quarter of 2020 and 3.2 percent in the second quarter of 2019.

“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,” said Lauren Hobart, the company’s president and chief executive officer.

Dick’s Sporting Goods posts increase in Q2 profit The company’s ecommerce sales increased 111 percent compared to the second quarter of 2019 and decreased 28 percent compared to the second quarter of 2020, which included a period of temporary store closures.

Driven by strong sales and gross margin rate expansion, the company reported consolidated net income of 495.5 million dollars or 4.53 dollars per diluted share.

On a non-GAAP basis, the company reported consolidated net income of 501.2 million dollars or 5.08 dollars per diluted share, compared to consolidated net income of 281.7 million dollars or 3.21 dollars per diluted share, for the quarter ended August 1, 2020.

H1 net sales at Dick’s Sporting Goods rise 53 percent

The company added that net sales for the 26 weeks ended July 31, 2021 were 6.19 billion dollars, an increase of 53 percent compared to the 26 weeks ended August 1, 2020 and a 48 percent increase compared to the 26 weeks ended August 3, 2019.

Consolidated same store sales for the period increased 51 percent compared to the 2020 period, which followed a consolidated same store sales decrease of 2.3 percent for the 2020 period and a 1.7 percent increase for the 2019 period.

The company’s ecommerce sales increased 124 percent and decreased 12 percent compared to the 26 weeks ended August 1, 2020.

The company reported consolidated net income of 857.3 million dollars or 7.96 dollars per diluted share for the first half compared to 133.4 million dollars or 1.53 dollars per diluted share. On a non-GAAP basis, the company reported consolidated net income of 868.3 million dollars or 8.89 dollars per diluted share compared to 139.1 million dollars or 1.60 dollars per diluted share, for the 26 weeks ended August 1, 2020.

Dick’s Sporting Goods ups full year outlook

For the full year 2021, Dick’s Sporting Goods anticipates to report net sales in the range of 11..5 to 11.7 billion dollars, an increase of 33 percent against 2019 and 21 percent against 2020.

Consolidated same-store sales are expected to increase in the range of 10 to 20 percent.

The company expects earnings per diluted share to be in the range of 11 to 11.45 dollars and earnings per diluted share on non-GAAP basis to be in the range of 12.45 to 12.95 dollars.