Retail

Dick's Sporting Goods Sees eCommerce Sales Surge 110 Pct In Q1

Dick's Sporting Goods Sees eCommerce Surge

As consolidated same-store sales dropped nearly 30 percent fueled by temporary store closures due to the coronavirus, Dick's Sporting Goods reported that eCommerce sales jumped 110 percent in the first quarter of 2020 compared to the first quarter of last year. The company had also reopened roughly 80 percent of its retail locations per an announcement.

Dick's Sporting Goods said that eCommerce penetration for Q1 2020 was roughly 39 percent of total net sales in comparison to roughly 13 percent during Q1 2019. It noted that eCommerce sales surged 210 percent after temporary store closures through the first quarter’s conclusion.

Edward W. Stack, chairman and chief executive officer, said in the announcement, “Although the business environment of 2020 remains uncertain, DICK'S Sporting Goods is in a position of strength. We believe coming out of the current crisis, health and fitness will become even more important to the consumer. As the leader in the sporting goods retail sector, our relationships with key brands have never been stronger and we are in a great place to support this demand.”

Net sales for the first quarter were roughly $1.33 billion, and the company reiterated that it withdrew its fiscal 2020 forecast, as announced before in mid-March. It said that it “is not providing an updated outlook at this time.”

In April, news surfaced that Dick’s Sporting Goods was putting many of its roughly 40,000 workers on leave, but impacted team members would keep getting benefits. The closing of fitness facilities, social distancing procedures, and state governments telling shoppers to stay in their residences had negatively impacted demand.

At the time, it was noted that Dick’s planned to keep a small number of staffers to assist with online shopping orders and curbside pickups.

The company said in a statement per an April report, “It is our goal that when this crisis subsides, we will welcome back our teammates, open our doors and get back to the business we love of serving athletes and our communities.”

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