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Pittsburgh — Dick’s Sporting Goods reported a record level of quarterly earnings for its fiscal second quarter, which ended Aug. 1. The company reported $276.8 million in consolidated net income and boosted its earnings per share by 155% relative to the second quarter of 2019. The Pittsburgh-based retailer cited booming e-commerce sales, which rose by 194% year over year, as a key driver in the company’s growth.
In addition, Dick’s noted that through the first 3 weeks of the third quarter, same-store sales have already increased by 11% compared to that period in 2019. Dick’s has also opened several new stores in recent weeks, including two in Massachusetts and one in New Jersey.
The company’s stock price opened at $47.70 per share on Aug. 26, up from $32.62 per share a year ago.
SOURCE: www.shoppingcenterbusiness.com