Dick’s Sporting Goods saw higher sales in the fiscal first quarter, which an analyst said indicates the company is gaining more market share.

The sporting goods retailer’s sales rose 6.2 per cent year over year to $3.02 billion, with comparable sales increasing by 5.3 per cent.

“For a majority, Dick’s remains the destination to visit for equipment and workout wear,” said Neil Saunders, MD at GlobalData.

“Dick’s is also winning share from other retailers, including specialists like Foot Locker and generalists like Target, as the strength of its offer and its solid partnerships with brands helps to pull consumers away from weaker assortments elsewhere.”

“Interestingly, this dynamic also extends to clothing for everyday wearing where Dick’s continues to draw custom away from traditional channels like department stores.”

However, the company’s net income declined 10 per cent to $275 million.

Saunders said that this is due to higher income tax provision rather than operational stumbles.

“The product pipeline from our key brand partners and our vertical brand portfolio has never been better,” said Ed Stack, executive chairman at Dick’s.

“For example, Nike’s recent Paris innovation summit highlighted a number of breakthrough products across apparel and footwear that we look forward to bringing to our athletes.”

For the full fiscal year, Dick’s raised its comparable sales growth guidance to a range of 2 per cent to 3 per cent. The company forecasts net sales to be between $13.1 billion and 13.2 billion.