Merchandise is displayed for sale at a Dick’s Sporting Goods Inc. store in West Nyack, New York.
Craig Warga | Bloomberg | Getty Images
The retailer said e-commerce sales, however, surged 210% since March 18, when its stores were closed, through the end of the first quarter. It said online sales were up 110% for the entire quarter as people stuck at home stocked up on weights, workout clothes and other fitness gear to keep them busy. It also said it got a boost from its curbside pickup service.
Dick’s shares rose 1.5% in premarket trading Tuesday following the release. Its stock is down about 26% for the year.
Dick’s reported a net loss of $143.4 million, or $1.71 a share, for the period ended May 2, compared with earnings of $57.5 million, or 61 cents per share, a year earlier.
Dick’s said net sales fell about 31% to $1.33 billion from $1.92 billion a year ago.
Analysts had been calling for Dick’s to report a loss of 57 cents