Net sales

Dick’s Sporting Goods Reports Fiscal Year 21 Net Sales of $12.29 Billion

American sporting goods retailer Dick’s Sporting Goods has reported that its net sales for fiscal year 2021 (FY21) increased 28.3% to $12.29 billion from a year earlier.

The company’s net sales for the year were also 40.5% higher than the previous two years.

Dick’s Sporting Goods consolidated comparable store sales increased 26.5% in FY21, compared to consolidated comparable store sales growth of 9.9% in the prior year.

The retailer’s physical store sales rose 42%, while its online sales saw an expected 9% decline.

Its reported consolidated net income for FY21 was $1.52 billion, up 142% from $530.3 million in FY20.

Diluted earnings per share (EPS) for Dick’s Sporting Goods increased to $13.87 in FY21 from $5.72 in the prior year.

During the fourth quarter (Q4), which ended on January 29, the company had net sales of $3.35 billion, up 7.3% compared to the corresponding period of the 2020 financial year.

Its combined same-store sales for the fourth quarter increased 5.9% and its physical store sales increased 14%, but its online sales fell 11% in the 13-week period.

Dick’s Sporting Goods President and CEO, Lauren Hobart, said, “We are extremely pleased that our team achieved the largest sales quarter in our company’s history.

“Our diverse category and brand portfolio, world-class omnichannel platform and strong execution continue to help us meet strong consumer demand.

“We are a growing company with a strong balance sheet and incredible momentum and confidence in our business.

“Our 2022 sales and earnings outlook establishes a new foundation on which we can build going forward.”

For the full year, Dick’s Sporting Goods expects EPS to be between $9.96 and $11.13.

The company expects consolidated same-store sales to be between -4% and flat.

In November of last year, Dick’s Sporting Goods expanded its Public Lands and Golf Galaxy store concepts to Columbus, Ohio, and Woodbury, Minnesota, respectively.