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Dick’s Sporting Goods eyes growth following challenging first quarter
Dick’s Sporting Goods reported healthy net income and increased e-commerce penetration in the first quarter despite experiencing significant challenges in the golf and hunting categories.
Net income increased 8% to $69.98 million from $64.82 million. Net sales increased 8% to $1.44 billion from $1.33 billion while sames store sales at Dick's store increase 2.3% but declined 10.4% and Golf Galaxy locations. The company anticipates an increase of 1.3% in same-store sales for both the second quarter and full fiscal year. -
Hhgregg’s sales down in fourth quarter
Hhgregg president and CEO Dennis May said severe weather was one of the main factors that hampered the company’s results in the fourth quarter.
The company, which pre-released its fourth-quarter results a little more than a month ago, reported a net loss of $7.2 billion in the quarter, compared to net income of $9.9 million in the same period the prior fiscal year. Net sales dropped 10% to $538.3 million, from $597.6 million.
