Sportswear demand rockets with record sales for US retailer

26/11/2020
US-based retailer DICK'S Sporting Goods has gone against the grain with record third-quarter revenues in its stores and its best-performing quarter in two decades.

Ecommerce sales made up 10% of sales, but grew 95% compared with the third quarter of 2019.

Net sales for three months reached $2.41 billion, an increase of 22.9% compared to the third quarter of 2019.

The company also announced CEO Edward Stack would step down after 36 years, and will be replaced by  Lauren Hobart, Dick’s president.

Mr Stack said: "We had another exceptionally strong quarter from both a sales and a profitability perspective. The strength of our diverse category portfolio once again helped us capitaliae on the favorable shifts in consumer demand, as the positive trends across golf, outdoor activities, home fitness and active lifestyle continued.

“Our performance in the quarter was driven by our 45,000 dedicated teammates who continued to work hard every day to safely serve our athletes and communities."

The group owns more than 730 stores in the US.