The 2021 first quarter proved bountiful for Dick's Sporting Goods as it reported a 115% jump in same-store sales compared to first quarter 2020.

The net sales of $2.92 billion reflect an increase of 52%, according to a press release on the quarterly earnings.

Driven by strong sales and gross margin rate expansion, the retailer delivered earnings per diluted share of $3.41 and non-GAAP earnings per diluted share of $3.79; this compares to a net loss per share of $1.71 during the first quarter of 2020, a result of last year's temporary store closures.

The 115% increase in consolidated same-store sales included an increase in e-commerce sales of 14% compared to last year.

"We are in a great lane right now, and 2021 will be our boldest and most transformational year in the company's history. We believe the future of retail is experiential, powered by technology and a world-class omnichannel operating model. Importantly, we are reimagining the athlete experience, both across our core business and through new concepts that we have been working on for the past several years, which will collectively propel our growth in the future," Ed Stack, executive chairman and chief merchandising officer, said in the release.

Founded in 1948, Dick's Sporting Goods operates 730 locations across the U.S. It owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming.

Copyright © 2021 Networld Media. All rights reserved., source Industry News