Results for "dick's sporting goods"

Speaking Tuesday at Morgan Stanley Global Consumer & Retail Conference, Lauren Hobart, president and CEO, Dick’s Sporting Goods, vowed that changes in its product mix and marketing approach would keep the retailer significantly less promotional than it has been in the past.

Speaking this week at Goldman Sachs’ Annual Global Retailing Conference, Lauren Hobart, president and CEO, Dick’s Sporting Goods, said that beyond the pandemic, Dick’s had benefited from the structural changes it put in place in 2017, which helped elevate its assortment, including carrying more “high-heat” apparel and footwear products.

Shares of Dick’s Sporting Goods closed up nearly 10 percent on Wednesday despite the retailer slashing its guidance for the year due to broader macroeconomic pressures. Lauren Hobart, CEO, told analysts the revision was pre-cautionary while expressing confidence that Dick’s would continue to benefit from the sports and outdoor hobbies began during the pandemic.

With many companies continuing to see benefits from changed behaviors due to the pandemic, the wide majority of active lifestyle stocks soared to new heights in 2021. Among the big winners were Academy Sports + Outdoors, up 113.3 percent; Dick’s Sporting Goods and Crocs, both ahead 104.6 percent; Shoe Carnival, 99.5 percent; Vista Outdoor, 93.9 percent; and Clarus Corp., up 80.0 percent.

Dick’s Sporting Goods for the third quarter in a row raised its outlook for the year as earnings again came in well above Wall Street targets and sales topped tough year-ago comparisons. Comps are now expected to expand about 25 percent for the year. Lauren Hobart, president and CEO, told analysts, “During a time when consumers are making lasting lifestyle changes with an increased focus on health and fitness and greater participation in outdoor activities, we believe that Dick’s Sporting Goods has become synonymous with sport in the United States.”

At a session held during CES’s first virtual trade show, Lauren Hobart, the president of Dick’s Sporting Goods, (to become President and CEO effective February 1, 2021), discussed her team’s herculean efforts to establish curbside pickup early in the pandemic and how the role of the store has changed. She said, “We went back in March thinking that survival was at risk.”

Ed Stack’s plans to step down after a 37-year run as CEO of Dick’s Sporting Goods headlined the major C-suite moves that transformed leadership across the active lifestyle industry in 2020.