Dick's Sporting Goods Sees E-Commerce Sales Rise 110%
Dick's Sporting Goods (NYSE: DKS) reported its first-quarter earnings today, and while business was negatively impacted by store closures due to the COVID-19 pandemic, its e-commerce business has been building momentum. The company said e-commerce sales increased by 110% in the quarter versus the year ago period, including its new curbside contactless pickup service.
Amid a current environment of uncertainty, the company expressed optimism, saying it had a strong liquidity position at the end of the quarter, with cash and equivalents of $1.5 billion. Chairman and CEO Edward Stack also said the company is confident in its business. "We believe coming out of the current crisis, health and fitness will become even more important to the consumer," he said.
Source Fool.com
