Dick’s Sporting Goods booked higher sales in the third quarter, which an analyst said is due to the back-to-school season and the company’s new offerings that helped attract new customers.

The sports equipment and apparel retailer saw net sales rise 2.8 per cent year over year to $3.04 billion in the three months ended October 28.

Neil Saunders, MD at GlobalData, said that Dick’s has become more of a destination for everyday casual wear, partly because clothing preferences have become more casual.

“However, part is also because Dick’s has rounded out its assortment with new brands and a better own-brand offering. This has allowed Dick’s to attract new shoppers and enlarge the share of wallet it gets from existing shoppers,” said Saunders.

“In doing this, Dick’s has taken share from other retailers, especially from department stores. This stealing of share is one of the central reasons for Dick’s outperformance.”

Saunders added that Dick has grown its share of parents purchasing apparel, footwear and accessories as compared to the previous year.

Meanwhile, the company’s net income dipped 12 per cent to $201 million.

“A modest slip in margins from increased discounting to clear inventory and higher operational costs were unhelpful this quarter,” said Saunders.

For the full year, Dick’s raised its comparable store sales guidance to a range of 0.5 per cent to 2.0 per cent.

“We are pleased with our third quarter results. With our best-in-class athlete experience and differentiated assortment, we had a very strong back-to-school season and continued to gain market share as consumers prioritize Dick’s Sporting Goods to meet their need,” said Ed Stack, executive chairman at Dick’s.