Rush to the great outdoors suits Dick’s Sporting Goods
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Dick’s Sporting Goods has been one of the major winners in the rush by Americans to make the most of the great outdoors during the COVID-19 pandemic.
The retailer, a major supplier of fishing tackle, delivered its results to investors for the second quarter of the year this week and they included a gigantic near 200% leap in e-commerce sales alongside a 20% growth in bricks and mortar revenue.
The group’s Chairman and Chief Executive Officer, Edward Stack, said: “We had an exceptionally strong Q2 in which we delivered our highest ever quarterly sales and earnings. These results are a testament to the hard work and dedication of our team-mates who reacted quickly to the favourable shifts in consumer demand throughout the period.
“During this pandemic, the importance of health and fitness has accelerated and participation in socially distant outdoor activities has increased. The majority of our assortment sits squarely at the centre of these trends, and while we are mindful of the uncertainty in the current environment, we are in a great lane now.
“The favourable shifts in consumer demand that drove our strong comps during Q2 have continued into this quarter, but have been offset by softness across key back-to-school categories.”