Market Globalist

DICK’s Sporting Goods, Inc. (DKS) Stock Rallies Following Promising Q1 2021 Financial Reports

DICK’s Sporting Goods, Inc. (DKS) stock prices were down by a marginal 1.20% as of the market closing on May 25th 2021, bringing the price per share down to USD$84.17 at the end of the trading day. Subsequent current market fluctuations saw the stock rise by 13.13%, bringing it up to USD$95.22.

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Net Sales Steadily Rising

The company reported USD$2.92 billion in net sales for the first quarter of the fiscal year 2021, a 119% increase from the numbers reported for the first quarter of 2020. The Q1 2021 numbers represented a 52% increase from the numbers reported in the first quarter of the fiscal year 2019. The increase compared to the same time period of the prior year was driven by a 115% increase in consolidates same store sales, including a 14% increase in eCommerce sales.


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eCommerce Performance

The first quarter of the fiscal year 2020 reported eCommerce sales to have increased by 110%. The market penetration of the eCommerce segment grew from 13% of total net sales in Q1 2019 to 20% for the first quarter of 2021. Meanwhile, Q1 2020 consolidated same store sales were down by 29.5%, with the decrease largely attributable to the temporary closure of stores following the onset of the global pandemic and the ensuing government-mandated restrictions and regulations.

Consolidated Net Income Reports

Consolidated net income for the quarter ended May 1st 2021 was reported at USD$361.8 million, representing a consolidated net income of USD$3.41 per share. This is compared to a consolidated net loss reported in the quarter ended May 2nd 2020 of USD$134.4 million, representing USD$1.71 per diluted share. As a result of the company’s response to Covid-19 for the 13-week period ended May 1st 2021, DKS incurred roughly USD$13 million of pre-tax incremental safety costs.

Comparative Financials

The first quarter of the prior year saw the company incurring roughly USD$62 million in pre-tax expenses in response to the challenges presented by the coronavirus pandemic. The first quarter ended May 4th, 2019 saw DKS report consolidated net income in the amount of USD$57.5 million, representing a consolidated net income of USD$0.61 per diluted shares.

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Future Outlook for DKS

Despite the challenges and associated costs incurred by the coronavirus, DKS is anticipating the early restriction of regulations and restrictions so that it can usher in further growth. Current and potential investors are hopeful that the company will continue to leverage the resources at its disposal to facilitate significant and sustained increases in shareholder value.

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