DICK’S Sporting Good has reported sales earnings for Q4 and fiscal 2021. The retailer delivered record-setting results, including a full-year net sales of $12.29 billion and a same store sales increase of 5.9% in the fourth quarter. DICK’s also delivered their highest sales quarter in history.
“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,” said Ed Stack, Executive Chairman.
Fourth Quarter Results:
- Net sales for the fourth quarter of 2021 were $3.35 billion, an increase of 7.3% compared to the fourth quarter of 2020 and a 28.5% increase compared to the fourth quarter of 2019.
- Consolidated same store sales for the fourth quarter of 2021 increased 5.9%, which followed consolidated same store sales increases of 19.3% in the fourth quarter of 2020 and 5.3% in the fourth quarter of 2019.
- The current quarter same store sales increase included a 14% increase in brick-and-mortar stores and an 11% decrease in eCommerce sales.
Full-Year Results:
- Net sales were $12.29 billion in fiscal 2021, an increase of 28.3% compared to fiscal 2020 and a 40.5% increase compared to fiscal 2019.
- Consolidated same store sales increased 26.5% in fiscal 2021, which followed consolidated same store sales increases of 9.9% in fiscal 2020 and 3.7% in fiscal 2019.
- The fiscal 2021 same store sales increase included a 42% increase in brick-and-mortar stores and an expected 9% decrease in eCommerce sales.
- Driven by strong sales and merchandise margin rate expansion, the Company reported consolidated net income of $1.52 billion in fiscal 2021, or $13.87 per diluted share, an increase of 142% compared to fiscal 2020 and an increase of 315% compared to fiscal 2019.
Both Q4 and full-year results show strength in the brick-and-mortar sector for DICK’S. The company has noticed an apparent trend with an evident increase in store sales, and a notable decrease in e-commerce sales. This was likely caused by numerous factors, but now that the brand has surpassed pre-pandemic numbers, this shows a clear preference towards physical retail. The brand will continue to focus on their omnichannel platform in 2022 and plans to meet ongoing consumer demand in retail.
“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 omni-channel 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,” said Lauren Hobart, President and CEO.
Source: DICK’S Sporting Goods Press Release
Photo Credit: DICK’S Sporting Goods Press Release
