Dick's e-commerce sales increased 57%, golf market outlook bright

As consumers continue to focus on equipment and apparel for outdoor activities and at-home workouts during the coronavirus pandemic , this trend has boosted related retailers.

Dick’s e-commerce sales up 57%

Dick's Sporting Goods reported better-than-expected fourth-quarter results . Dick's reportedly saw net sales climb to $3.13 billion from $2.61 billion a year earlier , higher than analysts' forecast of $3.07 billion. Same- store sales grew 19.3%, also exceeding expectations.

Additionally, Dick's e -commerce sales grew 57% during the quarter and accounted for approximately 32% of total sales for the quarter.

Dick's sales have rebounded during the pandemic as shoppers bought golf clubs, sports tops and other items to stay in shape and pass the time. Sportswear has become a popular category, but the market is becoming increasingly competitive as retailers including Target, Kohl 's , Gap 's casual brand Athleta and Lululemon are vying for more market share.

Dick ’s said it would increase investment to between $275 million and $300 million in the coming year , up from $167 million in its 2020 fiscal year and $ 180 million in fiscal 2019.

Golf market has huge potential

" Dick 's is off to a strong start to the fiscal year and we are very pleased with our strong fourth quarter sales and earnings performance," said Lauren Hobart, chief executive officer who took over in February . "Our diversified category portfolio, technology capabilities and advanced omnichannel execution have positioned us to capitalize on favorable shifts in consumer demand for golf, outdoor activities, home fitness and active lifestyles. In 2021, our focus will be on strengthening our existing strategy to accelerate our core business and achieve long-term growth."

In addition, Dick 's will expand its business and improve product quality , and will launch a new men's sportswear line called Burst later this month, and will invest in technology to support golf equipment and lessons in its Golf Galaxy stores and enable online reservations.

“ We are very bullish on the golf business, which has remained strong during the pandemic, both in warm- weather markets and nationally, ” Hobart said .

Dick's

E-commerce

Golf

USA

Sports and leisure