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The global fashion business journal

23 Sep 201904:52

Dick’s Sporting Goods closes downwards: shrinks profit by 11.5% and revenue down 6.4%

The US company specialized in sports fashion and equipment obtained a 102.5 million dollars profit and its sales stood in 2.49 billion dollars.

13 Mar 2019 — 18:12
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Dick’s Sporting Goods closes downwards: shrinks profit by 11.5% and revenue down 6.4%

 

 

Dick’s Sporting Goods suffers the consequences of the rise of e-commerce. The sports fashion and equipment company reduced its sales by 6.2% in 2018, to 2.49 billion dollars. The company attributes part of the result to an accounting matter, since last fiscal year had one week less than 2017.

 

The company’s profit fell by 11.5% to 102.5 million dollars. “In 2019, we will focus on enhancing the athlete experience in stores, improving our e-commerce fulfillment capabilities and technology,” said Lauren Hobart, president of Dick’s Sporting Goods.

 

In its roadmap for 2019, the company plans to improve sales generated from its physical stores, which fell by 3% in the last twelve months. In this context, Dick’s will open seven stores and relocate another three. In addition, it will launch two points of sale of the Golf Galaxy brand.

 

Dick’s has a total of 858 stores, which operate in 47 states of the United States, of which 13 were opened during the last year, all of them belonging to its parent company. Golf Galaxy has 98 points of sale and Field & Stream has another 35.

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