Dick’s Tests Expansion of Team Sports Apparel to Replace Hunting Goods
Dick’s Sporting Goods is expanding its assortment of licensed team sports apparel in a 10-store test in which it’s dropping hunting products, company executives said in releasing Q3 earnings.
Team sports apparel, along with baseball and outerwear, are filling the space previously dedicated to hunting in the test stores. The three categories have “significantly higher margins” than hunting, which had a gross margin half the 28.1% company average in Q3.
“We have a big upside with that category (team sports apparel) and we haven’t had enough space in the past,” Stack said.
Net income rose 1.9% to $37.8 million in Q3 ended Nov. 3 as revenue declined 3.9% to $1.86 billion. Same-store sales grew 0.9%.
Contact:
Dick’s Sporting Goods. Lee Belitsky, CFO, 724-273-3400
