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Top related persons:
Navdeep Gupta - 3 — - 2 Lauren Hobart - 2 Hobart - 2 Dick's - 2 merch - 1 Lowe's - 1 Brian Cornell - 1
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Service - 3 Goods - 3 Sporting Goods - 2 Business - 1 ESPN - 1 National Retail - 1 CNBC - 1 Dick's Sporting Goods - 1

Search resuls for: "Navdeep Gupta"


3 mentions found


☆ Dick's says its youth sports app will bring in $100 million this year
  + stars: | 2024-05-29 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +2 min
Dick's Sporting Goods has something unusual for a retailer: an app to manage youth team sports. The service now boasts 5 million users who spend a half hour per day on the platform. Dick's says the business will bring in $100 million this year, in addition to driving retail sales. Now, the aptly named Game Changer platform is driving real revenue with some notable engagement, Dick's CEO Lauren Hobart told investors on the company's earnings call Wednesday. Hobart said last quarter saw 5 million users who spent a half hour per day on the platform, and Game Changer says it supports over a million teams and over 7 million games per year.
Persons: —, Lauren Hobart, Hobart, Navdeep Gupta Organizations: Sporting Goods, Service, Goods, Business, ESPN
☆ The main reasons retailers are posting weaker profits this year have nothing to do with theft
  + stars: | 2023-09-13 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +5 min
A growing number of retailers are blaming retail theft for hurting their profits this year. Estimates say inventory shrink will exceed $100 billion for 2023, with over a third due to external theft. Inventory shrink is an accounting term that refers to several reasons merch goes missing, including damage, managerial errors, and, most conspicuously, theft. Dick's Sporting Goods cited an "alarming" rise in retail crime as responsible for one-third of the decline in merchandise profits for the last quarter. CFO Navdeep Gupta said the surprisingly high inventory losses were discovered as a result of the company's annual inventory audit.
Persons: merch, Lowe's, Brian Cornell, Navdeep Gupta, Dick's, — Organizations: Service, National Retail, CNBC, Dick's Sporting Goods, Cornell, Dick's, Goods Locations: Wall, Silicon
☆ Dick's CEO blames 'alarming' retail theft for a surprising profit drop: 'It's a problem for our entire country'
  + stars: | 2023-08-22 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +3 min
However, the number of incidents and the organized retail crime impact came in significantly higher than we anticipated," Gupta said. Gupta said inventory shrink accounted for one-third of the decline in merchandise profits. AdvertisementAdvertisementWhile theft is the largest contributor to inventory shrink, the figure also includes merchandise lost to damage or other errors. The National Retail Federation estimates that retail shrink cost retailers a combined $94.5 billion in 2021, up from $90.8 billion in 2020. AdvertisementAdvertisementEven with the higher rate of shrink, Gupta said the company is in better shape now than it was just a few years ago.
Persons: Lauren Hobart, Navdeep Gupta, Dick's, Gupta, Hobart Organizations: Sporting Goods, Service, Goods, National Retail Federation Locations: Wall, Silicon, Hobart
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