Companies

Dick’s Sporting Goods posts growth in 2021

Mar 10, 2022 United States

The sporting goods retailer has reported net sales of 12.29 billion US dollars in the full year 2021, reflecting growth of 28.3% and 40.5%, on a comparable basis with fiscal 2020 and 2019

"Our exceptionally strong 2021 reflects another positive step forward in our multi-year transformational journey. Our strategies are driving sustainable sales and profitability growth, and we have set our business on a new trajectory. I'd like to thank all our teammates for their hard work and unwavering dedication to our business”, commented Ed Stack, Executive Chairman.

“We are extremely pleased that our team delivered the largest sales quarter in our company's history. Our diverse category and brand portfolio, world-class omnichannel platform and strong execution continue to help us meet robust consumer demand. We are a growth company with a strong balance sheet and incredible momentum and confidence in our business. Our 2022 sales and earnings outlook establishes a new foundation for us to build on in the future”, added Lauren Hobart, President and CEO.

Fourth Quarter Results

In the fourth quarter of 2021, which ended on the 29^th January 2022, Dick’s Sporting Goods reached net sales of 3.35 billion US dollars, which reflects an increase of 7.3% and 28.5%, on a comparable basis to the same period of 2020 and 2019, respectively.

Consolidated same store sales for the fourth quarter of 2021 grew by 5.9%, including a 14% increase in brick-and-mortar stores and an 11% decrease in e-commerce sales, following a rise of 57% in e-commerce in the fourth quarter of 2020. E-commerce penetration has grown from 25% of total net sales in the fourth quarter of 2019 to 27% in the fourth quarter of 2021. In the same period of 2020, stood at 32%.

In the fourth quarter of financial 2021, consolidated net income totalled 346.1 million US dollars, or 3.16 US dollars per diluted share, reflecting an increase of 43% and 290%, as compared with the same period of 2020 and 2019.

Full Year Results

In the full year 2021, the company’s net sales increased by 28.3% and by 40.5%, reaching 12.29 billion US dollars, as compared with fiscal 2020 and 2019, respectively.

Consolidated same stores sales in 2020 grew by 26.5%, following a consolidated same store sales increase of 9.9% in fiscal 2020 and 3.7% in fiscal 2019. Fiscal 2021 same store sales growth includes a 42% rise in brick-and-mortar stores and a decrease of 9% in e-commerce sales. E-commerce penetration has grown from 16% of total net sales in fiscal 2019 to 21% in fiscal 2021, standing at 30% in fiscal 2020.

Dick’s Sporting Goods reported consolidated net income of 1.52 billion in fiscal 2021, or 13.87 US dollars per diluted share, which shows an increase of 142% and 315%, on a comparable basis with 2020 and 2019, driven by strong sales and merchandise margin rate expansion.

Full Year 2022 Outlook

For fiscal 2022, the company is forecasting earnings per diluted share to be in the range of 9.96 US dollars to 11.13 US dollars. Consolidated same store sales are expected to be in the range of negative 4% to flat.

Image Credits: multichannelmerchant.com

United States Companies Dicks Sporting Goods Footwear Quarter Results Results Retail Sales