Dick's Sporting Goods reports Q1 FY20 sales down to $1.33

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.#

“Although the business environment of 2020 remains uncertain, Dick's Sporting Goods is in a position of strength,” Edward Stack, chairman and chief executive officer at Dick’s Sporting Goods, said in a press release.

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.#

As the leader in the sporting goods retail sector, our relationships with key brands have never been stronger and we are in a great place to support this demand.”

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.#

Gross profit for the quarter were $219.3 million (Q1 FY19: $563.8 million). Selling, general and administrative expenses were $403.2 million ($487.1 million).

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.#

Company also stated that its e-commerce sales for Q1 FY20 increased 110 per cent, including curbside contactless pickup. E-commerce penetration for the Q1 FY20 was approximately 39 per cent of company's total net sales.

 

Dick's Sporting Goods, a US-based full-line omni-channel sporting goods retailer, reported 30.6 per cent decline in its net sales to $1.33 billion in first quarter (Q1) FY20 ended on May 2, 2020, compared to sales of $1.92 billion in same period last year. The company incurred a net loss of $143.4 million compared to net income of $57.5 million in Q1 FY19.#

“Through the first four weeks of the second quarter our consolidated same store sales have decreased only 4.0 per cent, representing a progressive recovery as we re-open our stores and maintain strong sales momentum in our eCommerce business, which has increased over 250 per cent,” Lauren Hobart, President at Dick’s Sporting Goods, said.