DICK’S Sporting Goods, Inc. (NYSE: DKS), the largest U.S. based full-line omni-channel sporting goods retailer, today reported sales and earnings results for the fourth quarter and full year ended January 30, 2021.
Fourth Quarter Results
Net sales for the fourth quarter of 2020 were $3.13 billion, an increase of 19.8% compared to the fourth quarter of 2019. This increase was driven by a 19.3% increase in consolidated same store sales, which included an increase in eCommerce sales of 57%. eCommerce penetration for the fourth quarter of 2020 was approximately 32% of total net sales, compared to approximately 25% during the fourth quarter of 2019. Fourth quarter 2019 consolidated same store sales increased 5.3%.
The Company reported consolidated net income for the fourth quarter ended January 30, 2021 of $219.6 million, or $2.21 per diluted share. As a result of actions taken to prioritize the health and well-being of its teammates and athletes, the Company incurred approximately $51 million of pre-tax incremental teammate compensation and safety costs in response to COVID-19, or $0.38 per diluted share, net of tax, during the 13 weeks ended January 30, 2021. The Company reported consolidated net income for the fourth quarter ended February 1, 2020 of $69.8 million, or $0.81 per diluted share.Dicks