DICK’S Sporting Goods Inc. (NYSE: DKS) slipped to a loss in the first quarter of 2020 from a profit last year, due to the impacts from temporary store closures, expenses, teammate compensation, and safety costs, as well as inventory write-downs. The top-line fell by 30.6% year-over-year.
Same-store sales decreased by 29.5% due to temporary store closures that started on March 18 to help prevent the spread of COVID-19. The first-quarter 2019 consolidated same-store sales were flat. Through the first four weeks of the second quarter, the company’s consolidated same-store sales have decreased by only 4%.
With confidence in liquidity position and its stores re-opening, the company could turn its attention to gaining market share for the remainder of 2020 and positioning its business for profitable growth in 2021. The company’s eCommerce sales, including Curbside Contactless Pickup, were tremendous, increasing 210% since it temporarily closed stores through the end of the first quarter.
Benchmark stock indexes pared their recent gains early this week amid elevated inflation concerns, but regained a part of the momentum later aided by recovery in tech stocks. The Dow
Aurora Cannabis Inc. (NYSE: ACB) reported third quarter 2021 earnings results today. Total revenues fell 25% year-over-year to CAD55.1 million. Adjusted EBITDA loss amounted to CAD24 million. Cash balance as
Media behemoth The Walt Disney Company (NYSE: DIS) reported second-quarter revenues that declined from last year as customers stayed away from theatres and parks due to pandemic-related safety issues and