Dick’s Sporting Goods says team sports’ return fueled comeback
Dick’s Sporting Goods says team sports’ return fueled comeback
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Youth sports are coming back and Dick’s Sporting Goods is seeing the benefits.
On Wednesday, the retailer released its first quarter earnings, which showed that the company’s net sales during the quarter reached $2.92 billion, a 119% increase compared to last year. Same-store sales increased 115%, according to a release.
Because of that boost, Dick’s raised its financial outlook for sales and profits 2021.
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In a prepared statement, CEO Lauren Hobart said the company was able to "capitalize on strong consumer demand" during the quarter. Hobart also attributed the sales increase to the return of team sports for children after many athletics had been canceled last year because of the coronavirus pandemic.
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