From the link:
Don't count out traditional retail yet.
Dick's Sporting Goods may have found the formula to thrive in the post Amazon world, combining the strengths of traditional retail with the convenience of online purchasing.
The Pittsburgh-based chain posted its best quarterly sales result in six years Tuesday, with same-store sales up 6% in the company's third quarter. That comes on top of a better than 3% increase in same store sales in the second quarter, executives noted.
"We saw increases in both average ticket and transactions, as well as growth across each of our three primary categories of hardlines, apparel and footwear,” said Edward W. Stack, chairman and chief executive officer. “As we head into the holiday season, we remain very enthusiastic about our business."
At 1 p.m. trading Tuesday, Dick's stock was up $7.43, more than 18% on the day, to $46.87, setting it to close at the highest point in more than two years.
On the strength of third quarter results, the company is raising its full year per share earnings estimate to $3.63 to $3.73, up 13 cents from previous projections.
The company was founded in Binghamton 42 years ago as a single bait and tackle shop on the east side, and has since grown into a 733 Dick's Sporting Goods Stores across the nation and 122 specialty store concepts, Golf Galaxy and Field & Stream, with 42 million square feet of retail space.
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