Dick's Sporting Goods Surprises the Market with 20% Sales Growth

By Sheridan Fifer

Consumers stuck at home are looking for safe ways to fill their time. It seems Dick's Sporting Goods was a direct beneficiary of a fitness trend during the shutdown. It wasn't just workout gear that pushed Dick's sales up more than 20% – it was lifestyle products and items related to outdoor activities such as golfing, boating, and fishing.

Less than a month ago, some analysts predicted a less than amazing quarter for sporting goods retailers. They said that the pandemic had made back to school plans shaky at best, so that many fall sports would likely not be played, cutting into sporting goods retailers' sales. So the sales growth came as a bit of a surprise. 

Neil Saunders, managing director of GlobalData Retail, said that Dick's Sporting Goods benefited from its "specialist" status, which protected it from rampant out of stocks while simultaneously making it a destination for consumers stuck at home looking for activities. 

Families are now expanding beyond workouts to socially distant activities that everyone can enjoy, like hikes, backyard campouts and fishing. And this works in Dick’s favor.

Read the full story at the New York Post.