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Dick's Sporting Goods Q2 FY20 sales jump 20% to $2.71 bn

13
Oct '20
Pic: Shutterstock
Pic: Shutterstock
Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, posted 20 per cent sales growth to $2.71 billion in its second quarter (Q2) FY20 ended on August 1, 2020, compared to the sales of $2.25 billion in the same period previous fiscal. Company’s net income for the quarter jumped to $276.84 million (Q2 FY19: $112.53 million).
 
“We had an exceptionally strong Q2 in which we delivered our highest ever quarterly sales and earnings,” Edward Stack, chairman and chief executive officer at Dick's Sporting Goods, said in a press release. “During this pandemic, the importance of health and fitness has accelerated and participation in socially distant, outdoor activities has increased. There has also been a greater shift toward athletic and active lifestyle product with people spending more time working and exercising at home.”
 
Gross profit increased to $936.8 million ($677.0 million). Income from operations for Q2 FY20 rose to $391.3 million ($155.0 million). 
 
“As our stores re-opened, we saw the power of our industry-leading omnichannel platform. We delivered positive double-digit brick-and-mortar store comps during both June and July, and our e-commerce sales remained very strong, increasing nearly 200 per cent for the quarter,” Lauren Hobart, president at Dick's Sporting Goods, said.

Fibre2Fashion News Desk (JL)


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