Market Hit: Consumer Edge data tracks Dick’s Sporting Good’s revenue beat and other KPIs

In its recent earnings call following its sales beat, Dick’s Sporting Goods (DKS) described an optimistic environment where consumers are bouncing back from a tough and sluggish year as shoppers increased both their traffic and average ticket.  CE data tracks the top-line beat as well as the average ticket growth that contributed to the impressive quarter.

Dick’s Sporting Goods (DKS) reported net sales growth of +6.2%, consistent with CE Implied Reported Growth of +5.8%, and beating consensus estimates of +3.3%.  The strong performance led the stock to surge 15% Wednesday post-earnings.  DKS management attributed the beat to consumer traffic and average ticket growth.

After Review: The Call on the Field Stands, Consistent Growth

DKS management called out strength in average ticket (+2.6%), attributed to shoppers spending more on new sneakers and athletic apparel, consistent with CE average ticket growth for DKS (+2.6%).  Dick’s average ticket growth is exceeding the industry, and continuing to accelerate into the current quarter.

The earnings beat and positive trends in consumer health led management to increase FY24 guidance and may signal a broader recovery to discretionary spending across the US.

Consumer Edge is the leading provider of alternative data for consumer spending behavior, and the only provider of global revenue signals. If you’d like to benefit from using CE Transact US, CE Vision, or other products for sporting goods insights, retail data, and other industry data year-round to track trends like these, reach out to schedule a demo.

About the Authors

Katherine Bjorkman is the Director of Insights for the CEIC. Explore more of her insights here and follow her on LinkedIn.

Rachel Zucker is an Insights Analyst for the CEIC. Follow her on LinkedIn.