November 28, 2018
Although the calendar shift and ongoing weakness in hunting and electronics challenged the top line, Dick’s reported net income of $37,827,000, up 2% compared to $36,913,000, for the third quarter ended Nov. 3 as sales declined 5% to $1,857,273,000 against $1,944,187,000 on a 6.1% comp decline.
Net income improved 26% to $12,398,000 against $9,808,000 for the 13 weeks ended Nov. 3 as sales rose 2% to $223,099,000 from $218,115,000 with comp store sales adjusted for the calendar shift growing 0.5% and five more stores opened.
Net income declined 26% to $6,448,000 in the third quarter ended Nov. 3 from $8,757,000 last year on 4% lower revenues of $146,826,000 down from $152,824,000 with the missing week this year from the calendar shift reducing sales by about $14 million.
While the average shopper spent $313.29 on gifts and holiday items over Thanksgiving weekend, down 7% from last year, the number of multichannel shoppers surged 40% to 89.7 million according to research from the NRF and Prosper Analytics.