Dick’s Sporting Goods, which has around 10% of the fishing retail market in the US, yesterday posted its best comparable figures since 2016.
Same store sales were up 3.2% as second quarter net sales rose almost 3.8% to $2.3 billion. A 21% increase in digital sales represented 12% of total sales for the quarter.
Operating income fell 4.6% as growth in selling and administrative expenses outpaced gross profit growth. Net income fell 5.7% to $112.5 million.
Dick’s has been investing in omnichannel growth over the past 12 months. The company has opened up two new e-commerce fulfillment centres to provide faster and more reliable delivery.
Chief Executive Edward Stack said the performance was driven by increases in average ticket products, as well as solid results from hard line merchandise, apparel and footwear.
Following the Q2 results, Dick’s has lifted profit estimates for the full fiscal year and expects a comparable increase in low single digits after a 3.1% decline last year. The estimate takes into account new tariff increases.
Dick’s, which has been impacted by its policy to reduce gun sales, is continuing to review its hunting business, including at its Field & Stream stores which specialise in fishing and the outdoors.
Dick’s is the largest sporting goods specialist retailer in the US, with more than 800 stores. However, it faces increasing competition from mass retailers like Amazon, where fishing is a..Continue Reading
Here’s the JM Gillies sales team celebrating the company’s seven awards at the AFTA show for the various international brands they represent in the Australian market. The wins included two for Sage in the fly rod and fly reel categories and victory for RIO in the fly line category.
MD Pat Levy told Angling International: “The fishing trade here in Australia (and in Europe) has been pretty tough over the last 12 months, but if you have good brands and new products to show retailers you can get them back on the road again. We’re looking forward to a great 2019/20.”
The Gillies roll-call of winners was completed by Plano (tackle management), Gorilla Grip gloves (clothing accessory), the Spy Point camera (outdoor product) and Fins Fighter (fishing line).
During the show, it was announced that Michael Starkey, Director of Frogleys Offshore, had been elected as President of the AFTA Committee, replacing long-serving Colin Tannahill, of Shimano. The full line-up includes: Michael Starkey, Frogleys Offshore (President), Damian Kerves, Rapala (Vice President), Billy Parsons, JM Gillies (Treasurer), Mitch Birt, Pure Fishing (Secretary), Colin Tannahill, Shimano (Past President), Chris Baty, Compleat Angler Melbourne and Geelong (Committee member), Michael Wassman, BCF (Committee member) and Stephen Morgan, Fishing Monthly magazine (Committee member).
The full list of show winners includes:
John Dunphy Award For Innovation
Winner: Wilson Fishing, Mustad Ink Vader
Runner-up: Barambah Lures, Lure Fastening System
In another show of industry support for sustainability, Z-Man Fishing Products has announced funding support for marine research.
The South Carolina company is to support future fishery biologists at the University of Florida’s (UF) Institute of Food and Agricultural Sciences (IFAS) Nature Coast Biological Station.
It will help with funding for three Master of Science graduates, providing a stipend and full tuition for each student to conduct research on improving the sustainability and management of recreational fisheries. In addition, the UF/IFAS will provide matching funds to cover tuition costs.
“Over the years our chairman, Jonathan Zucker, and I have both played active roles in fishery projects,” said Z-Man President, Daniel Nussbaum. “We are big fans of fishery scientists and the crucial work they do to sustain quality fishing opportunities. We plan to stay perpetually involved in fishery research and conservation projects.”
One of the students already selected is William Wolfson, who met Jonathan and Daniel at this year’s ICAST show. “Will’s doing exciting and important work by looking at ways to develop new hook designs that increase post-release fish survival,” said Professor Michael S. Allen, professor of fisheries and aquatic sciences and director of the UF/IFAS Nature Coast Biological Station... Continue Reading
Fox International today announced that it is teaming up with Lew’s in the USA, with both businesses backed by a new long-term investor, BDT Capital Partners.
The current Fox Management will continue to lead and drive the European business, led by CEO Paul Reeves. In a press release announcing the partnership, Fox said it is committed to its strategy of innovation, heavyweight marketing and outstanding customer service and looks forwards to continuing the successful relationships with customers, suppliers and partners.
Lew’s (including Strike King) is described as ‘an excellent complement’ to the Fox product portfolio thanks to having excellent technologies and brand strength, especially in reels and in hard and soft lures. The press release adds: “Lew’s also has very little business in Europe which we view as a significant opportunity for both us and our customers. Importantly, there is also an excellent cultural fit with Fox as we both share a deep knowledge of fishing and an understanding of the needs of the passionate angler.”
Reeves added: “We are delighted to be joining together with Lew’s, which is a highly complementary partner. We are also equally committed to continuing the extraordinary organic growth of Fox, while exploring acquisitions and partnerships with other high-quality businesses.
The transaction is expected to be completed in several weeks and is subject to customary legal conditions... Continue Reading
After a successful unveiling at EFTTEX, Tacklestream, the new media platform from the owners of Angling International, will be introduced to American customers at ICAST this week. Tacklestream is a digital platform that uses social media and a new website to showcase fishing tackle to retailers. It includes products news, sales tutorials and a directory-style listing to help retailers choose brands for their stores, make sales enquiries and maximise their sales. “With Tacklestream we are bridging the gap between brands and retailers, in particular those retailers in Europe that are not being well served by existing trade media and shows,” explains Rob Carter, the International Sales Director for the brand. “There is a growing need for such a service because more and more brands in Europe are switching to dealing directly with retailers. While that helps with their bottom lines, it throws up a set of new challenges. Brands need to find new retailers and then communicate with them effectively about their products and services. “There is no single platform in Europe that is helping brands to do this. Hence Tacklestream.” Tacklestream’s Instagram and Facebook pages have already been launched. The new website is under development with a plan to go live within two months. “We arrived at EFTTEX seeking the trade’s feedback and the response was overwhelmingly positive,” added Carter. “In fact, the demand was for more functionality. We intended to offer the trade a marketing website for new tackle but the preference was for something that allowed retailers to make direct enquiries. “And why..Continue Reading
Shimano North America recognised key manufacturer reps at its recent national sales meeting. Daniel Schultz received the Stella Award, while Russ Taylor was named Rep of the Year. Schultz covers freshwater retail accounts in Alabama and Georgia for the Don Coffey Company and won the award for exceptional dealer service, commitment to customer relationships and ownership of Shimano initiatives. “Daniel’s substantial increase in sales among his accounts last year is another positive in his overall efforts,” said Shimano’s Assistant Vice President Sales, Chris Brondell. Arkansas-based Russ Taylor, who has been with Sportco Marketing for less than two years, was recognised for growing his sales account. “He has quickly grasped what Shimano brings to any and all types of angler and this has been reflected in the sales increases his efforts have achieved,” said Brondell...Continue Reading
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