Dick’s reports record first quarter • Taichung Bike Week registration opens • Best of Bike show launches in Austria as Bike & Trimm Ends • Bicycle Garage Indy partners for cycling tours
PITTSBURGH, PA (BRAIN) Wednesday May 16 2012 7:13 AM MT—Fiscal first-quarter sales at Dick’s Sporting Goods rose 15 percent to $1.3 billion and net income jumped 53 percent to $57.2 million compared with the same period a year earlier, the company reported Tuesday.
Same-store sales increased 8.4 percent compared with a year earlier and the company added six new stores to its retail network during the period ended April 28. The same-store growth consisted of a 7.3 percent increase at Dick’s Sporting Goods stores, a 12.6 percent increase at Golf Galaxy stores and a 33.4 percent increase in e-commerce.
Dick’s does not break out figures for its bike business.
“We had an exceptionally strong first quarter as we generated record earnings with a 50 percent increase in earnings per share on 15 percent sales growth. We also maintained a healthy balance sheet while returning capital to stockholders through our dividend and share repurchase programs,” said Edward W. Stack, chairman and CEO. “For 2012, we are raising our full-year guidance as we continue to invest in new stores and our e-commerce business as well as our margin accelerators including inventory management, private brands, and product-mix shift.”
The company operates 486 Dick’s Sporting Goods stores in 44 states and 81 Golf Galaxy stores in 30 states. For 2012, it plans to open a total of 40 new Dick’s Sporting Goods stores, relocate five stores and reposition two Golf Galaxy stores.
Taichung Bike Week registration opens
TAICHUNG, Taiwan (BRAIN) Wednesday May 16 2012 7:08 AM MT—Registration has opened for this year’s Taichung Bike Week at Taichung-bikeweek.com. The annual OEM show held in the heart of Taiwan’s manufacturing region draws product managers and suppliers to discuss spec choices for the following model year bikes. It is scheduled for Nov. 13 to 16 at the Evergreen, Tempus and Splendor hotels in downtown Taichung. It attracts about 145 exhibitors. Two additional OEM shows, Ride On and First Group, are held around the same time.
Best of Bike show launches in Austria as Bike & Trimm Ends
SALZBURG, Austria (BRAIN) Wednesday May 16 2012 7:10 AM MT—A new tradeshow promoted by British event organizer Reed Exhibitions launches this September at Messe Salzburg in Austria. Best of Bike runs from Sept. 23 to 25 and will focus on all product segments of the industry as a showcase for trends and innovations that will be out the following spring and summer. The trade-only show will also host manufacturers from the fitness industry. Best of Bike debuts as longtime Austria show Bike & Trimm ends. The Bike & Trimm trade fair was scheduled for Sept. 16 to 18 at Brandboxx Salzburg. It has been held since 1991 and included bike, motorcycle and general sports exhibitors.
Bicycle Garage Indy partners for cycling tours
INDIANAPOLIS, IN (BRAIN) Wednesday May 16 2012 7:11 AM MT—Retailer Bicycle Garage Indy has partnered with ActiveIndy Tours as bike rental provider for the AcitveIndy’s guided cycling tours highlighting Indianapolis’ history, public art and hidden gems.
The casually paced tours last about three hours and depart from the Indy Bike Hub YMCA bicycle commuter center, home to the BGI Downtown store. ActiveIndy also offers daily walking and running tours. Custom bike tours are available upon request.
“We’re thrilled to be partnering with [founder Nathan Smurdon] and ActiveIndy Tours on this new venture. The more people exposed to the joy of bicycling helps make our business stronger. In addition, this partnership will draw more people to our downtown location, raise awareness of the high quality of our rental bike fleet and bring more people to the Indy Bike Hub YMCA to experience this unique facility,” said Randy Clark, president and founder of Bicycle Garage Indy.
BGI has three locations in the Indianapolis area. For information on rentals at its downtown store, go to www.bgindy.com/for/hubrentals.
Related: Previous News Briefs