Retail

Dick’s Sporting Goods’ Q3 Sales Jump

Dick’s Sporting Goods reported today that it netted sales of $1.81 billion in the third quarter of 2016. ECommerce accounted for 9.6 percent of its net sales — or about $174 million in online sales.

Compared to $1.64 billion during the same period in 2015, with 8 percent ($131 million) of the net coming from online purchases, the sporting goods retailer saw 10.2 percent growth in net sales and a 32.8 percent growth in online sales.

Chairman and CEO Edward Stack said today in a statement, “We are very pleased with our third-quarter results, which were driven by a 5.2 percent comp sales increase and gross margin expansion. We realized meaningful market share gains and saw growth across each of our three primary categories of hardlines, apparel, and footwear while maintaining tight control of our inventory.”

He went on to say that the company expects to acquire more displaced market share this holiday season. The retailer has seen a boost in sales since the demise of Sports Authority in March of this year.

Dick’s Sporting Goods was previously in the same unsure position as every other legacy retail chain in the sporting goods space as the rise of specialty goods and omnichannel first threatened the brick-and-mortar establishment. But the company took the reigns before it was too late by pledging $65 million to repositioning toward an in-house eCommerce model and hasn’t looked back since.

The company currently operates 676 Dick’s Sporting Goods stores in the U.S., along with 74 Golf Galaxy stores and 27 Field & Stream stores.

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