Innovative Store Concepts and Private Label Brands Drive Record Sales at Dick’s Sporting Goods

Dick’s Sporting Goods is a pandemic-era success story. After consistently delivering strong results over the last 12 months, the sporting goods retailer announced on Wednesday that it delivered its strongest quarter in the company’s history, with record sales and earnings. Stock for Dick’s Sporting Goods Inc. soared 13% after the company reported a net income of $495.5 million, or $4.53 per diluted share, on Wednesday. Analysts and executives pointed to a variety of factors when explaining the standout performance. For starters, the retailer benefited from a surge in outdoor and athletic categories, driven by a consumer interest in hiking and the outdoors. “The importance of health and fitness has accelerated, participation in outdoor activities has increased, and there’s been a far greater propensity for athletic apparel and athletic lifestyle product,” said Lee Belitsky, EVP and CFO of Dick’s Sporting Goods, in a call with investors. “These new habits and behaviors have largely continued into 2021, and looking ahead, we believe these trends have staying power.” As sales abound, Dick’s has been seeing wins across multiple channels and categories. Just this year, the company launched an experiential retail concept with its its first House of Sport outpost and a men’s athleisure line called VRST. Here are some

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