Dick’s Sporting Items stories $12.29bn in web gross sales for FY21

0
64

US-based sporting goods retailer Dick’s Sporting Goods has reported that its full-year net sales for fiscal year 2021 (FY21) increased 28.3% year-on-year to $12.29 billion.

The company’s annual net sales were also 40.5% higher than two years earlier.

Dick’s Sporting Goods consolidated sales increased 26.5% in FY21 compared to consolidated sales growth of 9.9% a year ago.

The retailer’s physical store sales rose 42%, while e-commerce sales posted an expected 9% decline.

Reported consolidated net income for FY21 was $1.52 billion, up 142% from $530.3 million in fiscal 2020.

Diluted earnings per share (EPS) at Dick’s Sporting Goods increased to $13.87 in fiscal 21 from $5.72 a year earlier.

In the fourth quarter (Q4) ended Jan. 29, the company had net sales of $3.35 billion, up 7.3% from the corresponding period in FY20.

Combined same-store sales rose 5.9% in the fourth quarter and physical-store sales rose 14%, but e-commerce sales fell 11% during the 13-week period.

Lauren Hobart, President and CEO of Dick’s Sporting Goods, said, “We are delighted that our team achieved the largest quarter of sales in our company’s history.

“Our diverse category and brand portfolio, world-class omni-channel platform, and strong execution help us continue to meet robust consumer demand.

“We are a growth company with a strong balance sheet and incredible momentum and confidence in our business.

“Our revenue and earnings prospects for 2022 provide a new foundation on which to build going forward.”

For the full year, Dick’s Sporting Goods expects earnings per share to be between $9.96 and $11.13.

The company forecasts consolidated same-store sales of between -4% and flat.

Last November, Dick’s Sporting Goods expanded its Public Lands and Golf Galaxy businesses to Columbus, Ohio and Woodbury, Minnesota, respectively.