US-based sporting goods retailer Dick’s Sporting Goods has reported that its full-year net sales for the fiscal year 2021 (FY21) grew by 28.3% to $12.29bn compared to the previous year.
The company’s net sales for the year were also 40.5% higher than two years prior.
Dick’s Sporting Goods‘ consolidated same-store sales increased by 26.5% in FY21, compared with a consolidated same-store sales growth of 9.9% in the previous year.
The retailer’s physical store sales increased by 42%, while its e-commerce sales saw an expected decline of 9%.
Its reported consolidated net income for FY21 amounted to $1.52bn, up by 142% from $530.3m in FY20.
Dick’s Sporting Goods’ diluted earnings per share (EPS) increased to $13.87 in FY21 from $5.72 in the prior year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
During the fourth quarter (Q4), which ended on 29 January, the company delivered $3.35bn in net sales, up by 7.3% compared with the corresponding period of FY20.
Its combined same-store sales for Q4 increased by 5.9% and its physical store sales grew by 14%, but its e-commerce sales dropped by 11% during the 13-week period.
Dick’s Sporting Goods president and CEO Lauren Hobart said: “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.”
For the full year, Dick’s Sporting Goods expects its EPS to be in the range of $9.96 to $11.13.
The company has forecast consolidated same-store sales of between -4% to flat.
In November last year, Dick’s Sporting Goods expanded its Public Lands and Golf Galaxy store concepts to Columbus, Ohio, and Woodbury, Minnesota, respectively.