Home / Knowledge / News / Apparel/Garments / Dick's Sporting Goods e-commerce sales up 17% in Q4 2018

Dick's Sporting Goods e-commerce sales up 17% in Q4 2018

13
Mar '19
Pic: Dick
Pic: Dick's Sporting Goods
Dick’s Sporting Goods, the largest US based full-line omni-channel sporting goods retailer, has reported e-commerce sales increase by 17 per cent for Q4 2018, adjusted for the calendar shift due to the 53rd week in 2017. E-commerce penetration for Q4 of 2018 was approximately 23 per cent of total net sales, compared to 19 per cent during Q4 of 2017.

The company reported net income of $102.6 million for Q4 2018 as compared to $116 million in Q4 2017. The consolidated net income was $319.9 million for the 52 weeks ended February 2, 2019, or $3.24 per diluted share against $323.4 million for the same period last year.

In the fourth quarter, the company closed three Dick’s Sporting Goods stores. As of February 2, 2019, the company operated 729 stores in 47 states, 94 Golf Galaxy stores in 32 states, and 35 Field & Stream stores in 16 states.

“We are pleased with our fourth quarter results. Our core business performed quite well, as our athletes have responded positively to many of our initiatives, resulting in comp sales gains across key categories and double digit percentage increases in e-commerce and private brand sales,” said Edward W Stack, chairman and chief executive officer. “For 2018, we delivered earnings near the high end of our expectations, which represents an 8 per cent increase over last year. This achievement is the direct result of the hard work and commitment from our over 40,000 talented teammates.”

Based on an estimated 95 million diluted shares outstanding, the company currently projects earnings per diluted share to be approximately $3.15 to 3.35 for the full year of 2019, which includes approximately $30 million, or $0.23 per diluted share. Consolidated same store sales are currently expected to be approximately flat to an increase of 2 per cent, compared to a 3.1 per cent decrease in 2018. The company expects to deliver positive consolidated same store sales beginning in the second quarter.

The company expects to open seven new stores and relocate three in 2019. The company also expects to open two new Golf Galaxy stores and relocate one Golf Galaxy store in 2019.

“As we look forward to 2019, we are enthusiastic about our business and expect to return to positive comp sales beginning in the second quarter. We will continue to make significant investments in our business to meet our athletes’ ever-changing needs and grow our leadership position in the industry,” said Stack.

“In 2019, we are focused on enhancing our athletes’ experience in our stores, improving our e-commerce fulfillment capabilities and elevating our technology talent and capabilities,” said Lauren R Hobart, president of Dick’s Sporting Goods. “This is an exciting time for our company as we remain focused on building the best omni-channel experience in sporting goods.” (PC)

Fibre2Fashion News Desk – India


Must ReadView All

Armtex Group gets incentives for textile unit in Armenia

Textiles | On 18th Mar 2019

Armtex Group gets incentives for textile unit in Armenia

Armenia recently granted textile manufacturer Armtex Group customs...

Pic: Gildan Activewear

Fashion | On 18th Mar 2019

Merger of athletic, leisure created new brands: Gildan

Merging of athletic and leisure categories in developed nations has...

Pic: Asteks

Textiles | On 18th Mar 2019

Asteks' AGV reduces workload in material transportation

AGV automatic guided vehicles developed by garment manufacturer...

Interviews View All

Top executives, Machinery Company

Top executives
Machinery Company

We will promote latest technologies at ITMA Barcelona

Neel Sawhney, One Friday

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Rahul Bhadani, Looksgud

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Amiben Shroff, Shrujan

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


March 2019

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search