Sporting Goods Retailers Post Strong Q2 Results as Apparel Stores Struggle

It was a big week for retail earnings. Caleres, Shoe Carnival, Dick’s Sporting Goods, Hibbett, Macy’s, Nordstrom and Gap Inc. all reported results for the most recent quarter. In some cases, companies revealed weak sales due to softening demand in non-discretionary categories amid a highly inflationary environment. However, some retailers managed to stand out with stronger-than-expected results, despite economic headwinds. Here were our top three takeaways from the reports this week: Momentum for sporting goods Sporting goods retailers in Q2 thus far appear to have bucked the trend of weak sales in the wake of slowing demand. Dick’s Sporting Goods on Tuesday raised its guidance for 2022 after reporting Q2 results that topped analysts expectations. CEO Lauren Hobart said that demand trends had remained relatively stable across all income demographics. Dick’s also said it avoided the labor and staffing shortage that has permeated the broader retail industry. “We are not seeing a significant trade down,” said Dick’s CEO Lauren Hobart in a call with investors on Tuesday. “Our consumer is holding up very well.” Hibbett Sports executives on Thursday also said the retailer has largely managed to avoid the issue of consumers trading down to cheaper alternatives. Hibbett is also seeing benefits from its strategy of focusing on

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