Sporting and outdoor goods retailer Dick’s Sporting Goods has shared its Q3 2022 results, highlighted by a 6.5% increase in comparable store sales.
“Our Q3 results demonstrate the continued success and strength of our transformational journey,” said Ed Stack, executive chairman of Dick’s Sporting Goods. “Our strategies continue to work as we reimagine the athlete experience and offer a compelling and differentiated assortment as well as a best-in-class omni-channel ecosystem. I'd like to thank all our teammates for their hard work and unwavering dedication to our business."
Selling branded items as well as private label apparel, Dick’s Sporting Goods’ net sales in the period ended Oct. 29 were roughly $3.0 billion, an increase of 7.7% versus the third quarter of 2021 and an increase of 50.8% versus the third quarter of 2019. Comparable store sales increased 23.2% compared to the third quarter of 2020, and increased 6.0% compared to the third quarter of 2019.
"We delivered an exceptionally strong third quarter with our comps increasing 6.5% and EBT margin of 10.3%, which was over three times our 2019 non-GAAP rate,” said Lauren Hobart, president and CEO of the retailer. “DICK'S is a growth company, and our Q3 sales results are powerful evidence of our sustainable growth story. Because of our continued strong performance, quality of inventory and the confidence we have in our business, we are raising our full year 2022 outlook."
Dick’s operates more than 850 Dick’s Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone! and Warehouse Sale stores nationwide.