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Dick’s Sporting Goods set to rise 10%

 

dick's sporting

Dick’s sporting Stock

Although box stores have seen their share of trouble during the pandemic, Dick‘s Sporting Goods has proven a much different force to be reckoned with. DKS operates in a fiscal year ahead of the normal calendar year, we have seen that its 2021 revenue was up almost 10% during the chaos of 2020 is a strong indicator for the company. Projections going into the fiscal year of 2022 show Dick’s increasing even more, with a projected 23% revenue increase and profits set to almost double over the previous year.

The reason for this is simple. Dick’s is situated in the right niche for people stuck at home and who need to get out and get their blood pumping again. Being in a retail sector where people loaded up on gear like hiking boots and golf equipment to do so.

Secondly, Dick’s had already invested in its online retail presence operations that allow people to book sales online and either have items delivered to their home or picked up the same day in stores.

This strategy has been proving durable as total online sales have become nearly 20% of total revenue even after the pandemic-driven bump – and likely will grow further in the coming years as this shift in consumer behavior becomes widespread and permanent.

One of the key advantages Dick’s has over online retailers is that people need to try on sports equipment to make sure it fits and has the feeling that they are looking for, a big advantage in a world that is going further into online retail. Dick’s is a stock to watch this all-important holiday season.

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Written by Caleb Case

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