PITTSBURGH, PA (BRAIN) — Fueled by strong online sales, third-quarter net income at Dick’s Sporting Goods Inc. rose 21 percent, to $50.1 million from $41.5 million a year earlier.
Dick’s, which also operates golf retailer Golf Galaxy and owns the rights to Callaway’s Top-Flite brand, reported a revenue increase of 11 percent, with same-store sales rising 5.1 percent. Online sales, meanwhile, surged 46.7 percent.
Dick’s does not break out sales figures for its cycling business.
“Looking to our progress on the digital front, we’ve accomplished much in the third quarter. We continue to grow our e-commerce business while improving transaction profitability, increasing inventory productivity, and providing customers more choices about where, when and how they shop,” CEO Edward Stacks said in an earnings conference call.
The company opened 21 new stores during the third quarter, raising its total to 511 Dick’s Sporting Goods stores and 81 Golf Galaxy locations.