Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Q2 total and same-store sales also grew for the sporting goods retailer.
Dick’s Sporting Goods Inc. had a good sales quarter, led by e-commerce.
For the second quarter ended July 28, Dick’s, No. 101 in the 2012 Internet Retailer Top 500 reported:
- The web accounted for 3% of total sales in the quarter and grew year over year 34.6%. Based on those metrics, e-commerce sales grew to $43.1 million from about $32 million in the second quarter of 2011.
- Total sales of $1.43 billion, up by 10% from $1.30 billion.
- Comparable-store sales increased by 3.8%.
- Net income of $53.7 million, compared with net income of $73.8 million in Q2 2011.
“We plan to drive continued long-term profitable growth by investing in new stores, developing our omnichannel capabilities and increasing our margins through inventory management,” says Edward W. Stack, chairman and CEO.
For the first six months:
- Online sales of $81.5 million, an increase of 33.8% from $60.9 million in the first six months of 2011.
- Total sales of $2.7 billion, up by 12.5% from $2.4 billion.
- Comparable-store sales increased by 5.9%.
- Net income of $110.8 million, compared with net income of $111.3 million in the same period in 2011.
Web sales accounted for 3.0% of total sales for the first half of 2012, compared with 2.5% in the same period last year.