Dick's Sporting Goods, Inc. - DKS STOCK NEWS

DICK'S Sporting Goods reported Q1 2021 net sales of $2.92 billion, reflecting a 119% increase over Q1 2020 due to a 115% rise in same-store sales and 14% growth in eCommerce. Net income surged to $361.8 million or $3.41 per share, a turnaround from a $143.4 million loss in Q1 2020. The company ended Q1 2021 with $1.86 billion in cash and no debt, and authorized a dividend of $0.3625 per share. For 2021, DICK'S raised its outlook, anticipating $10.51 billion in sales, up 22% compared to 2019.

DICK'S Sporting Goods (NYSE: DKS) will open four new locations nationwide, including a new off-price store concept 'Going, Going, Gone!' in May 2021. This expansion will create approximately 110 jobs and enhance the retailer's offerings with new experiential 'Soccer Shops' and redesigned Golf Galaxy locations featuring advanced technologies. The grand openings include a DICK'S Sporting Goods location in Northridge, CA, and two Going, Going, Gone! locations in Avon, IN, and Monroeville, PA, among others. The company aims to provide deep discounts and unique finds in sports apparel and footwear.

DICK'S Sporting Goods (NYSE: DKS) will announce its Q1 fiscal 2021 results on May 26, prior to market open. A conference call to discuss the results is scheduled for 10:00 a.m. Eastern Time on the same day, accessible via the Investor Relations website. Founded in 1948, the company operates 730 locations in the U.S., focusing on high-quality sports equipment and apparel. DICK'S also manages Golf Galaxy and Field & Stream stores, and provides a robust eCommerce platform.

DICK'S Sporting Goods (NYSE: DKS) announced a partnership with Stephen 'tWitch' and Allison Boss on International Dance Day, enhancing its family athleisure brand, DSG. To launch the collaboration, they choreographed a TikTok dance challenge to Young MC's 'Bust A Move.' DSG is committed to inclusivity and social responsibility, donating 1% of each purchase to the Sports Matter program, which supports youth sports. DSG offers a range of apparel and equipment for all family members, priced between $15 and $40.

DICK'S Sporting Goods (NYSE: DKS) has unveiled its VRST men's apparel line, announcing a partnership with two-time national champion and Heisman Trophy winner DeVonta Smith. The collaboration will showcase Smith in VRST's marketing and merchandising efforts, emphasizing a blend of style, quality, and comfort. VRST offers a diverse range of activewear priced between $30 and $120. Following successful vertical brands like DSG and CALIA, VRST aims to cater to the modern active male. The apparel line is available both in-store and online.

DICK'S Sporting Goods (NYSE: DKS) announced its partnership as a founding corporate partner of Black Coaches United (BCU), aimed at promoting diversity and inclusion within basketball coaching. The partnership includes efforts in training, mentorship, and advocacy programs for coaches nationwide. DICK'S will also support various BCU events and educational initiatives, focusing on empowering young athletes, particularly kids of color. This collaboration aligns with BCU's mission to enhance opportunities for minority coaches.

DICK'S Sporting Goods (NYSE: DKS) announced the grand opening of its first DICK'S House of Sport on April 9 in Victor, NY, along with two Warehouse Sale locations and experiential Soccer Shops. The House of Sport will feature a variety of athletic experiences, including a 17,000 sq. ft. outdoor turf field and advanced technology for customer engagement. This expansion will create approximately 260 jobs. Additionally, nine redesigned Golf Galaxy locations and enhanced offerings in 62 stores will debut, enhancing the retail experience for sports enthusiasts.

DICK'S Sporting Goods (NYSE: DKS) has extended its partnership with CommerceHub through a multi-year agreement to enhance its ecommerce capabilities. Notably, DICK'S achieved a 100% increase in ecommerce sales in 2020, attributed to strategic investments in technology and its digital fulfillment system. This collaboration allows DICK'S to provide a broader product assortment, leveraging CommerceHub's vendor direct network to improve order fulfillment and customer service. As of January 30, 2021, DICK'S operated 728 locations across the U.S.

DICK'S Sporting Goods (NYSE: DKS) announced the launch of VRST, a new men's athletic apparel brand designed for active lifestyles. VRST is set to be available exclusively online at VRST.com and dicks.com, as well as in over 400 stores across the U.S. The product offerings include joggers, shorts, tees, and sweatshirts, priced between $30 and $120. This initiative aims to address the growing demand for sophisticated, versatile activewear that intersects casual and athletic markets.