DICK'S Sees Sales Climb in ‘Transformational’ Q3

Originally Posted In PYMNTS

VFI_Blog_Dick’s Sees Sales Climb in ‘Transformational’ Q3

Dick’s Sporting Goods’ continued efforts to redefine itself through its experiential, omnichannel offerings appears to have paid off during its third quarter, with the retailer seeing a 6.5% increase in sales.

“Our Q3 results demonstrate the continued success and strength of our transformational journey,” Ed Stack, the company’s executive chairman, said in a news release Wednesday (Nov. 22). “Our strategies continue to work as we reimagine the athlete experience and offer a compelling and differentiated assortment as well as a best-in-class omnichannel ecosystem.”

This quarter saw the company launch a partnership with Peloton, with plans to launch 100 branded store-in-store locations with the connected exercise company.

Around the same time, Dick’s also teamed up with DoorDash for a program that offers consumers access to same-day delivery.

And earlier this month, Dick’s unveiled DSG Ventures, a $50 million venture capital fund targeting companies that focus on athletes and their communities.

Among its projects is working with the innovation advisory VentureFuel on a retail innovation program to find startups to work with Dick’s on a pilot program to enhance consumer experience areas such as eCommerce and artificial intelligence (AI).

The Pittsburgh-based company previously launched Public Lands, a retail concept that features experiential elements like a climbing wall, as well as GameChanger, a technology company that makes products for youth sports teams and communities. There’s also Dick’s line of Going Going Gone! stores that consolidate clearance inventory and allow for eCommerce selling.

As PYMNTS noted in 2021, the company’s focus on experiential retail and bringing products to consumers in new ways accelerated in the early part of last year as shoppers returned in higher numbers to stores when the spread of COVID-19 began to slow and vaccinations increased.

Last year also saw Dick’s debut “Dick’s House Of Sports,” a concept store that includes indoor and outdoor play spaces that allow for experiential shopping, with features such as a climbing wall, batting cage and playfield.

“We believe the future of retail is experiential, powered by technology and a world-class omnichannel operating model,” Stack said at the time.

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