Net sales

Dick’s Sporting Goods net sales drop 7.5% in first quarter

PITTSBURGH (BRAIN) – Dick’s Sporting Good reported that first-quarter net sales were down 7.5% year-over-year for the period ending April 30.

Net sales were $2.7 million, compared to $2.9 million for the same period last year. Net income for the quarter was $261 million, down 28% from $362 million. Earnings per share fell 28% from $3.41 to $2.47.

“We are pleased with our first quarter results as our team continued to evolve with agility and perform well in a very dynamic environment,” said Lauren Hobart, President and Chief Executive Officer, while the company noted that Q1 2022 net sales were up 41%. than the same period in 2019. “Over the past two years, we have demonstrated our ability to skillfully manage the pandemic and other challenges, and we are confident in our continued ability to adapt quickly and execute in uncertain macroeconomic conditions. Dick’s has a unique and powerful position in the market, and we remain confident in our strategies and ability to deliver long-term growth in sales and earnings.”

The company also said comparable store sales fell 8.4%.

Dick’s reported a second straight year of record full-year net sales in its latest earnings report in March. The company is listed on the New York Stock Exchange under the symbol DKS. More information: quotation of the DKS share on NYSE.com.