Dick’s reports best same-store sales increase since 2013
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Dick’s Sporting Goods, one of the leading suppliers of fishing tackle in the US, saw same-store sales for the third quarter of the year increase 6% on last year – the strongest quarterly gain since 2013.
The growth surpassed the expectations of Wall Street, which had predicted an expansion of 2.9%. The retailer reported a 5.6% increase in net sales to approximately $1.96 billion. eCommerce sales increased 13% and represented 13% of total net sales.
During the period the company opened six new Dick’s Sporting Goods stores and sold eight Field & Stream outlets to Sportsman’s Warehouse. As of November 2nd, it operates 733 Dick’s stores in 47 states.
“We are very pleased with our strong third quarter results, as we delivered a 6.05% comp sales increase and meaningful gross margin expansion. We saw increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear,” said Edward W. Stack, Chairman and Chief Executive Officer. “As we head into the holiday season, we remain very enthusiastic about our business, and we are pleased to increase our full year sales and earnings outlook for the third time this year.”
Lauren R. Hobart, President, added: “The momentum in our stores continued to build with our focus on service standards, recognition of great results and stronger marketing. Combining this with the successful openings of our new eCommerce fulfillment centres and enhanced website functionality, we continue to build one of the best omni-channel experiences in retail.”
For the year to date, net sales increased 3.3% compared to the same period in 2018 to $6.14bn.