May 17, 2022

Retailers Race to Keep Kayaks and TVs in Stock

Big retail chains such as Dick’s Sporting Goods Inc. and Best Buy Co. say they are rushing to have enough goods to sell in their stores this year amid surging demand from American consumers for products from fitness equipment to televisions.

The situation is a sharp turn from the depths of the Covid-19 pandemic a year ago, when many retail executives worried aloud about whether shoppers would ever return to their stores. Companies shifted to e-commerce and added curbside services. But this spring, as vaccines roll out, households get stimulus funds and restrictions are lifted, people are shopping in stores again.

The spending is adding to inventory challenges that surfaced last year when shoppers hurried to buy items such as toilet paper and bikes. Now, purchasing teams are dealing with a range of in-demand items along with pandemic-fueled strain on supply chains. They risk potentially losing out on sales as consumers have historic levels of money to spend.

“It’s hit almost every aspect of the business, so we’re chasing all the time. We’re chasing everything. But we’ve gotten really good at it,” Lauren Hobart, chief executive of Dick’s Sporting Goods, said this week about finding some products. Executives have pointed to supply constraints for certain products, and in March said the company had been pushing to get fitness items, kayaks, golf equipment and athletic apparel.

Dick’s reported sales in the quarter ended May 1 more than doubled from a year ago when stores temporarily closed, and jumped 52% from the same period in 2019. Ms. Hobart said team sports returned with a vengeance while golf, fitness and outdoor products also had strong demand.

Related Posts

Amazon Prime Day Is Set for June 21-22

June 2, 2021

June 2, 2021

Amazon.com Inc. said it would hold its Prime Day on June 21 and 22 in the U.S. and other countries,...

Oil Majors Look to Fill Businesses’ Growing Appetite for Green Power

May 24, 2021

May 24, 2021

European oil companies including BP PLC and Royal Dutch Shell PLC are building new wind and solar projects and striking...

U.S. Producer Prices Rose Strongly in May, Adding to Inflation Pressures

June 15, 2021

June 15, 2021

The prices that suppliers are charging businesses and other customers rose again last month, adding to inflation pressures bubbling through...

Exxon Disavows Remarks After Video Shows Lobbyists Dismissing Company’s Climate Stance

July 1, 2021

July 1, 2021

Exxon Mobil Corp. Chief Executive Darren Woods apologized and disavowed statements made by two of the company’s top Washington lobbyists...

Bank of Mexico Raises Interest Rates in Split Decision

June 24, 2021

June 24, 2021

The Bank of Mexico raised interest rates Thursday in a surprise decision after inflation came in higher than expected in...

Turbocharged U.S. Economy Attracts Foreign Investors

June 21, 2021

June 21, 2021

The extraordinary recovery of the U.S. economy is likely to make the country the world’s top destination for overseas investment...

The World Relies on One Chip Maker in Taiwan, Leaving Everyone Vulnerable

June 19, 2021

June 19, 2021

The company makes almost all of the world’s most sophisticated chips, and many of the simpler ones, too. They’re in...

You’re Going Back to the Office. Here Is What Your Day Might Look Like.

May 29, 2021

May 29, 2021

It’s 6 a.m., Monday, somewhere in America, and Jane Q. Office Worker’s alarm goes off. She’s tempted to hit the...

American Airlines Cancellations: What to Do if Your Flight Was Canceled

June 21, 2021

June 21, 2021

When American Airlines announced cancellations of some flights to avoid potentially straining its operations, it sent some fliers into a...

Europe Keeps Aiding Companies to Avoid Surge of Covid-19 Insolvencies

June 13, 2021

June 13, 2021

Rousselle Industrie SA, a maker of machinery for paint manufacturers in northern France, almost collapsed in 2020 after the pandemic...

Amazon Faced 75,000 Arbitration Demands. Now It Says: Fine, Sue Us

June 1, 2021

June 1, 2021

Companies have spent more than a decade forcing employees and customers to resolve disputes outside the traditional court system, using...

Biden Administration Taps Private Sector to Invest in Central America

May 27, 2021

May 27, 2021

Vice President Kamala Harris on Thursday unveiled the agreements of 12 companies and organizations to invest in Guatemala, Honduras and...

UBS Says Hybrid Work Is Here to Stay

June 28, 2021

June 28, 2021

UBS Group AG will allow around two-thirds of its staff to mix working from home and the office as an...

Are Vaccinated Americans Powering the Economy? Not Yet, Data Show

May 24, 2021

May 24, 2021

Vaccinated Americans are increasingly going out this spring—but not as much as their unvaccinated counterparts. Vaccinated consumers were less likely...

Chip Shortages Are Starting to Hit Consumers. Higher Prices Are Likely.

June 21, 2021

June 21, 2021

The global chip shortage is pushing up prices of items such as laptops and printers and is threatening to do...