Dick’s Sporting Goods is reaping the benefits of changes it has made over the last five years, including expanded offerings in experiential retail and omnichannel delivery, executives said Tuesday (Aug. 23) in the company’s earnings release.
“Our second quarter performance demonstrates the strength of our core strategies and the foundational improvements we have made across our business over the past five years,” Executive Chairman Ed Stack said in the release.
Since beginning its “transformational journey” in 2017, the company has launched several new concepts, the company said in its August 2022 investor presentation.
These additions include Public Lands, a retail concept that features experiential elements like a climbing wall; GameChanger, a technology company that builds products for youth sports teams and communities and Going Going Gone! stores that consolidate clearance inventory and allow for eCommerce selling, according to the presentation.
“The state of our industry is strong, and we remain in a great lane,” Stack said in the release. “Dick’s is the clear market leader, and as a result of our transformation, we are well-positioned to extend our lead and deliver long-term sales and earnings growth.”
The company’s focus on experiential retail and bringing products to consumers in new ways accelerated in the early part of 2021 as shoppers returned in higher numbers to stores when the spread of COVID-19 began to slow down and more people were vaccinated against the virus, PYMNTS reported at the time.
The retailer, which has 860 stores in 47 states, has also continued developing its omnichannel operating model that allows customers to choose to shop in-person, use a one-hour, in-store or curbside pickup, or received deliveries that ship from stores or from a fulfillment center, according to the presentation.
“Our inventory is healthy and well-positioned, and we are excited about our assortment for the back-to-school season,” President and CEO Lauren Hobart said in the latest earnings release. “We are raising our full year 2022 outlook, which continues to incorporate an appropriate level of caution given today’s uncertain macroeconomic environment.”
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