Field & Stream

On March 7, Edward Stack, CEO and chairman of Dick’s Sporting Goods, announced the company is dropping 20% of its brand offerings. This news is part of a larger redirection for the sporting goods retailer, one designed to optimize its inventory for increased sales.  

The struggles — and exits — of former rivals has proved a boon for Dick’s Sporting Goods, which reported fourth quarter sales and earnings on Tuesday that beat the Street.       The company also announced aggressive store expansion plans.   

Dick’s Sporting Goods is expanding its breadth.   The chain is preparing to open five stores during the second week of March, a move totaling approximately 180,000 sq. ft. of retail space.    Specifically, a new Dick’s Sporting Goods will open in the Glendale area of Queens, New York, in one of the former Sports Authority locations that the company took over late last year. Another Dick’s store will open in Hinesville, Georgia.   

Dick’s Sporting Goods is putting two of its formats under one roof in the Austin, Texas, market.   The retailer will open a Dick’s Sporting Goods and Field & Stream store on Friday, March 3 at The Parke in Cedar Park, Texas. It will be Dick’s 677th store and 29th Field & Stream store nationwide.    There are currently three other Dick’s Sporting Goods stores in Austin.  

Dick’s Sporting Goods will be relocating one of its stores in the Harrisburg, Pennsylvania, metro to space formerly inhabited by Sears at PREIT’s Capital City Mall.  

PREIT CEO Joseph Coradino is pursuing a take-charge course in dealing with department store attrition, announcing that his company is actively pursuing replacements for three Sears anchors he expects to close in 2017.   

Dick's Sporting Goods Inc. on Tuesday reported better-than-expected sales and earnings for its fiscal third quarter but tempered its good news with a weak outlook for the fourth quarter.    Dick’s posted net income of $48.9 million for the quarter ended Oct. 31, up from $47.2 million in the year-ago period.   On a per-share basis, the Coraopolis, Pennsylvania-based company said it had profit of 44 cents. Earnings, adjusted for non-recurring costs, were 48 cents per share.  

Dick’s Sporting Goods on Tuesday hit a home run, posting second quarter results that surpassed analysts’ expectations and lifting its earnings forecast for the year.   Dick's reported net income of $91.4 million for the quarter ended July 30, up from $90.8 million in the year-ago period.   Net sales increased 7.9% to $1.97 billion. Online penetration for the second quarter was 8.5% of total net sales, compared to 7.3% last year. Same-store sales increased 2.8%.