Dick’s Sporting Goods reported another quarter of better-than-expected sales and earnings as it experienced growth across all income groups.
The nation’s largest sporting goods retailer stood apart from many other retailers, including competitor Foot Locker, that have suffered slowdowns amid cutbacks in discretionary spending. On the company’s earnings call, CEO Lauren Hobart said that, compared to the same period last year, “more athletes purchased from us, they purchased more frequently and they spend more each trip.”
In March, Dick’s said it plans to open about 20 locations of its experiential store concept, “Dick’s House of Sport,” during the next two years, including nine stores this year. Looking ahead, the company expects to have a total of 75 to 100 House of Sport locations by the end of 2027. Hobart said the format is fostering strong engagement with athletes (customers)ChainStoreAge