Dick’s Sporting Goods Inc. reported record earnings and sales in the three months through June amid strong demand for health and fitness products as customers sheltered at home during the COVID-19 pandemic.
The Coraopolis, Penn.-based sporting goods retailer earned $276.8 million, or an adjusted $3.21 per share, recouping $28 million of inventory write-downs recorded in the first quarter. Net sales rose 20% from a year earlier to $2.71 billion.
The results outpaced the adjusted earnings of $1.30 per share and revenue of $2.46 billion that Wall Street analysts surveyed by Refinitiv were expecting.
“During this pandemic, the importance of