Dick’s Sporting Goods stores continue to fulfill 90% of total sales

Dick’s Sporting Goods now has more than 25 million active loyalty members for its ScoreCard program, said CEO Lauren Hobart.

For the second quarter ended July 30, 2022, ScoreCard members generated more than 70% of total revenue, according to Hobart. That is about 2 percentage points more than in the same period last year.

Dick’s Sporting Goods stores accounted for more than 90% of total sales in the fiscal second quarter. Hobart said the company’s omnichannel platform, which uses stores as a hub, is a key competitive advantage. Dick’s sporting goods Stores also enabled 90% of total sales in Q1 2022 and in the fourth quarter of 2021.

That comes as the company reported net sales of $3.11 billion in the second quarter. That’s down 5.1% from $3.27 billion in the year-ago quarter. It’s also a 38% increase compared to the second quarter of 2019. The retailer didn’t report any online sales figures.

Net sales for the first half of the fiscal year reached $5.81 billion. That’s down 6.6% from $6.19 billion in Dick’s Sporting Goods’ first half of fiscal 2021.

Dick’s Sporting Goods is ranked #37 in Digital Commerce 360’s Top 1000 database of North American e-tailers, ranked by web sales.

inventory problems in the industry

Hobart described inventory as “healthy and well positioned with improved inventory levels in key categories.”

Navdeep Gupta, Chief Financial Officer at Dick’s, said: “Quarter-end inventories increased 49% compared to the second quarter of last year. However, last year we have been chasing inventory amid significant supply chain disruptions. A better comparison is with Q2 2019 where our 40% inventory increase relative to our 38% increase in sales.”

This 49% increase represents $2.996 billion in inventory in Q2 2022 from $2.011 billion in Q2 2021.

Similar to other retailers during the quarter, Gupta said transactions fell 8.4% while average tickets rose 3.3%. Retailers including Walmart (#2), Target (#5), Macy’s (#16), Nordstrom (#20) and Kohl’s (#21) reported declining transactions during the quarter as inflation constrained consumer spending .

For the second fiscal quarter ended July 30, 2022, Dick’s Sporting Goods reported:

• $3.11 billion in net sales. That’s down 5.1% from $3.27 billion in the year-ago quarter. It’s also a 38% increase compared to the second quarter of 2019.
• Dick’s Sporting Goods stores accounted for more than 90% of total sales for the quarter and the prior two fiscal quarters.
• Inventories rose to $2.996 billion. That’s up 49% from the $2.011 billion in inventory in Q2 2021.
• Transactions fell 8.4% while the average ticket rose 3.3%

For the year ended July 30, 2022, Dick’s Sporting Goods reported:

• Net sales reached $5.81 billion. That’s down 6.6% from $6.19 billion in Dick’s Sporting Goods’ first half of fiscal 2021.

Percent changes may not exactly match dollar figures due to rounding.

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