Dick’s Sporting Goods significantly hiked its guidance for 2021 as stellar first-quarter results provided more confidence that the surge seen across many categories during the pandemic would continue to pay dividends in the future. On a conference call with analysts, Lauren Hobart, president and CEO, said team sports “came back with a vengeance” in the first quarter and pandemic-helped categories such as golf, home fitness and outdoor are “still really, really strong.”
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Father’s Day Spending To Hit $20.1 Billion, According To NRF
U.S. consumers are expected to spend more than $20.1 billion on gifts and other items for Father’s Day this year, a record high, according to the National Retail Federation’s (NRF) annual survey conducted by Prosper Insight & Analytics. Total spending for the holiday will surpass last year’s record figure of $17 billion.
Wedbush Boosts Price Targets On Dick’s SG
Wedbush on Monday raised its price target on Dick’s Sporting Goods from $85 to $97 on the investment firm’s belief that sales trends have accelerated since the company’s 4Q20 earnings report.
Inside The Call: Adidas Hikes Sales Outlook On Faster-Than-Expected Recovery
Adidas raised its 2021 sales outlook as it expects strong demand for its products and DTC growth momentum to help overcome a number of challenges, including continued lockdowns in Europe, supply chain hurdles and political tensions in China.
Catch Co. Closes $38 Million Series B Funding Round
Catch Co. announced that it had closed a $38 million Series B funding round led by Silicon Valley venture capital firm True Ventures with participation from Chicago-based prior investor TechNexus. To date, the fishing brand, content and commerce platform has raised $56 million in total funding.
Dick’s SG To Open At Manchester’s Burr Corners
Dick’s Sporting Goods will open a location at The Plaza at Burr Corners, in Manchester CT in mid-October after closing a nearby store.
Inside The Call: Hydro Flask Beats Annual Plan, Positioned To Regain Momentum
Helen of Troy said Hydro Flask topped internal plans in its fiscal year ended February 28 and trends have improved as social distancing restrictions have eased. Julien Mininberg, Helen of Troy’s CEO, on a conference call with analysts, said, “We are excited about Hydro Flask growth prospects as the world begins to reopen.”
NPD Reports: Team Sports Equipment Sales Continue Strong In Q1
According to NPD Group, the strong growth trend seen in golf and team sports equipment during the pandemic has continued into 2021, with a few notable exceptions. Sales for the first quarter grew more than 50 percent compared to 2020 and were up more than 40 percent compared to 2019.
Smith will be prominently featured throughout VRST marketing and merchandising and will represent the brand in both athletic and lifestyle apparel. “Style, quality, and comfort are all important to me, and it’s clear that VRST is made for men who want to perform at a high level and look great, wherever they are,” said Smith. […]
Redcon1 Completes Strategic Investment From Trivest Partners
Redcon1, the sports nutrition brand, completed a growth capital investment with Trivest Partners, a PE firm focused on founder/family-owned businesses.
Port Congestion Leads To Inventory Woes
Inventory levels were just as hot a topic as sales and margins on recent quarterly investor calls as delays caused by congestion at the nation’s ports risk restraining top-line growth in the months ahead. Here is a roundup of recent discussions on analyst calls regarding inventory flow.
Dick’s Officials Talk Up Potential For New Concepts At BofA Investor Conference
Speaking at the BofA Securities Consumer and Retail Technology Conference, officials at Dick’s Sporting Goods elaborated on the potential for its two new concepts, Public Lands and Dick’s House of Sport, while also addressing its relationship with Nike, its private-label success and sales outlook for the current year.
Inside The Call: Dick’s SG Looks To Build On Momentum In 2021
Dick’s Sporting Goods reported record sales and earnings for the fourth quarter and year and predicted continued strong demand across golf, outdoor, fitness and active lifestyle categories as well as recovery for team sports in 2021. Conservative guidance was still provided for 2021 as the company seeks to hurdle 2020’s pandemic-driven gains.
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