Dick's Sporting Goods
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File:Dick's Sporting Goods.svg | |
![]() Exterior of a store in Manchester, Connecticut, in 2014 (store #295). This store closed in November 2021 and was replaced by a new location (store #1519) nearby. | |
Type | Public |
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Industry | Retail |
Founded | 1948Binghamton, New York, U.S. | in
Founder | Richard "Dick" Stack |
Headquarters | , U.S. |
Number of locations | 854[1] (2020) |
Key people |
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Revenue | ![]() |
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![]() | |
Total assets | ![]() |
Total equity | ![]() |
Number of employees | 50,100 (2021) |
Subsidiaries |
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Website | dickssportinggoods.com |
Dick's Sporting Goods, Inc. (stylized as "DICK'S Sporting Goods") is an American sporting goods retail company, based in Coraopolis, Pennsylvania. The company was established by Richard "Dick" Stack in 1948, and has approximately 854 stores and 50,100 employees. Dick's is America's largest sporting goods retailer, and it is listed on the Fortune 500.[5]
Company overview
Dick's is the largest sporting goods retail company in the United States,[6] with approximately 854 stores,[7] as of 2020.[8] The public company is based in Coraopolis, Pennsylvania,[9] outside Pittsburgh, and has approximately 50,100 employees, as of March 2020.[10] The company's subsidiaries include Field & Stream, Golf Galaxy, and Public Lands, and, previously, Chelsea Collective and True Runner.[11][12] In 2017, there were 690 Dick's stores, close to 100 Golf Galaxy locations, and approximately 30 Field & Stream stores.[13] The company launched Team Sports HQ, a collection of digital products, following the acquisitions of Affinity Sports, Blue Sombrero, and GameChanger.[14]
Edward W. Stack serves as executive chairman.[15] Lauren Hobart is president and chief executive officer of the company[16] and Lee Belitsky is chief financial officer, as of 2018.[17] Hobart succeeded Edward W. Stack as CEO on February 1, 2021, becoming the company's first female CEO.[18][19]
History
Richard "Dick" Stack started the company as a fishing tackle store in Binghamton, New York, in 1948.[20] He began with a $300 loan from his grandmother.[21]
Edward W. Stack and his siblings purchased Dick's from their father in the early 1980s,[22] when the company had two locations in Upstate New York.[23] Stack established a board of directors, opened additional stores, and relocated the company's headquarters to Pittsburgh in 1994.[24] He became chairman and chief executive officer following his father's retirement in 1984, and led the company during its initial public offering in 2002.[25]
Dick's operated primarily throughout the Eastern United States, up to 2009, and has since expanded to the Pacific Northwest and West Coast.[26] There were more than 357 Dick's stores in 38 states, as of mid 2008.[27]
In 2012, the company opened three True Runner stores targeting runners in Boston, the St. Louis suburb Brentwood, and Pittsburgh's Shadyside neighborhood.[28][29] The stores closed in early 2017.[30]
Dick's launched the women's athleisure, fitness, and lifestyle store Chelsea Collective in 2015,[31] opening two stores in Pittsburgh and Tysons, Virginia,[32] in the Washington, D.C. metro area. The shops closed in 2017.[33]
The company launched Dick's Team Sports HQ in early 2016, offering youth sports teams websites, uniforms, and sponsorship options.[34]
Dick's opened its first Field & Stream store in Cranberry Township, a suburb of Pittsburgh, in 2013.[35] Thirty-five Field & Stream stores are open across the country, as of 2018.[36] Jason Aldean became the Field & Stream brand's first spokesperson in August 2016.[37]
Following the Stoneman Douglas High School shooting in February 2018, Dick's stopped selling assault weapons and high-capacity magazines, and increased the minimum age for purchasing guns to 21.[8][12] Dick's-branded stores had suspended assault-style weapon sales following the Sandy Hook Elementary School shooting in 2012, but the guns were still available for purchase at Field & Stream locations.[38][39] Dick's has never carried bump stocks.[8]
The company currently operates five distribution centers.[40] The most recent, in Conklin in Southern Tier, New York opened in January 2018,[41] and was further expanded to fulfill online sales a few months later.[9]
In 2019, Dick's launched its private-label clothing line called DSG.[42] The company's other brands include the women's line Calia, and their menswear brand VRST.[43]
Dick's opened its first "House of Sport" concept stores in Victor, New York and Knoxville, Tennessee in 2021.[44] The stores are larger than Dick's flagship locations, sell higher-end gear and include features such as an outdoor turf field and track, climbing wall, batting cages, and a digital golf range.[45] Dick's also launched Public Lands in 2021, a chain of stores that focuses on outdoor recreation including camping, hiking, and biking.[46]
Acquisitions
Dick's acquired Galyan's in July 2004.[47] The company agreed to purchase Golf Galaxy for $225 million in November 2006.[47] Dick's confirmed plans to close Golf Galaxy's headquarters in Eden Prairie, Minnesota in mid 2008.[48]
Dick's purchased the San Diego-based sports management technology company Affinity Sports for an undisclosed amount in mid 2016.[34] In September, Dick's acquired Sports Authority's brand name and intellectual property. There were 450 Sports Authority locations at the time.[49]
Dick's acquired Golfsmith, the largest golf retailer in the United States, at a bankruptcy auction in October 2016. Dick's bid approximately $70 million for all of Golfsmith's intellectual property and inventory. The company planned to retain around 30 of Golfsmith's more than 100 locations, as well as 500 employees.[50] Dick's rebranded 36–38 Golfsmith stores in 16 U.S. states as Golf Galaxy in 2017.[51] This increased the number of Golf Galaxy stores to 98, located in 33 states.[52]
Lawsuits and legal proceedings
- In July 1971, Dick's was told of infringing a patent owned by Furnace Brook, LLC, in a lawsuit filed in the Northern District of Illinois.[53]
- On March 31, 2005, the company restated the first three fiscal quarters of 2004 as well as full-year figures due to adjustments to its accounting for leases and tenant or construction allowances.[54]
- In June 2009, Dick's was accused of infringing a patent owned by The Donkey Company, Inc., in a lawsuit filed in District Court for the District of New Jersey.[55]
- In February 2014, Dick's brought a lawsuit against Modell's Sporting Goods CEO, Mitchell Modell (who featured on an episode of Undercover Boss in 2012), for going undercover into one of their stores to gain access to retail secrets.[56] The lawsuit was settled out of court by April for undisclosed terms. Independent analysts suggested that Modell visited the store on a whim, rather than as part of some plot to steal information.[57]
- In 2018, Dick's was sued for age discrimination by at least two different people for no longer selling long guns to 18-20 year olds where legal.[58][59] One case was settled in November 2018; details of the settlement are confidential, but it did not directly result in any changes to the retailer's policies.[60] The second case was reported as "resolved" by an attorney for the plaintiff in late 2018 without disclosing details of any settlement.[61]
Partnerships and sponsorships
The company signed a 20-year naming rights agreement for Dick's Sporting Goods Park, a soccer-specific stadium for the Colorado Rapids team in Commerce City, Colorado, in 2006.[62] Dick's has sponsored the Pittsburgh Penguins and the team's home arena, PPG Paints Arena (formerly Consol Energy Center).[63]
Sporting events sponsored by Dick's have included the Dick's Sporting Goods Open and the Pittsburgh Marathon.[64][65] Dick's began sponsoring ESPN's college football kickoff week in 2009.[66]
In 2015, the company sponsored Olympic and Paralympic athletes and hopefuls, and became the "official sporting goods retailer" for Team USA for the 2016 Summer Olympics and Paralympics.[67] Dick's and Team USA established the Ambassador Program and Contender's Program in partnership with the United States Olympic Committee, employing Olympians and prospective Olympic athletes. Dick's employed approximately 200 Team USA athletes competing in 35 different Olympic and Paralympic sports, as of March–July 2016.[68][69] The athletes worked in 89 stores in 32 states.[70]
Dick's partnered with Carrie Underwood in 2015 to launch Calia, a fitness lifestyle line.[71]
In 2017, Dick's entered a multiyear partnership with the United States Youth Soccer Association to provide team management technology and sponsor the US Youth Soccer National Championships.[72][73]
Since September of 2021, Dick’s has been in a multi-year agreement to be the official retail partner of the WNBA.[74]
Dick's Sporting Goods Foundation
In 2014, the Dick's Sporting Goods Foundation committed up to $2 million annually to fund youth sports via its Sports Matter program.[75] More than 145 million USD has been pledged for youth sports initiatives, benefiting hundreds of thousands of athletes, as of December 2020.[76] The organization also launched an awareness campaign with Jon Gruden and Michael B. Jordan serving as spokespeople, and worked with director Judd Ehrlich to release We Could Be King, a documentary film about two Philadelphia high school football teams forced to merge due to lack of funding.[75] Following Hurricane Harvey and Hurricane Irma (2017), the foundation donated $2 million to youth sports facilities and program in affected areas, including $120,000 for Houston's reVision soccer team, composed of immigrants from Africa.[16] Dick's later featured the team in a documentary-style advertisement called reVision FC: A Holiday Assist.[16]
In 2019, the Dick's Sporting Goods Foundation launched a campaign to improve access to sports for one million kids by 2024.[77]
References
- ^ a b c d e f "Form 10-K". U.S. Securities and Exchange Commission. Retrieved August 5, 2021.
- ^ "Management". Dick's Sporting Goods. Retrieved July 19, 2020.
- ^ "Management". Dick's Sporting Goods. Retrieved July 19, 2020.
- ^ "Management". Dick's Sporting Goods. Retrieved July 19, 2020.
- ^ "Dick's Sporting Goods". Fortune. Retrieved December 9, 2018.
- ^ Mosendz, Polly; Townsend, Matt (May 3, 2018). "Dick's Sporting Goods ramps up gun control push, hires lobbyist". The Denver Post. Digital First Media. ISSN 1930-2193. Retrieved June 27, 2018 – via Bloomberg L.P.
- ^ SEC. "Dick's Sporting Goods, Inc. 2021 Annual Report 10-K". SEC.report. Retrieved August 5, 2021.
- ^ a b c Isidore, Chris (February 28, 2018). "Dick's Sporting Goods will stop selling assault-style rifles". CNNMoney. AT&T. Retrieved June 27, 2018.
- ^ a b "New Dick's Sporting Goods facility to expand, add jobs". The Seattle Times. Associated Press. April 25, 2018. ISSN 0745-9696. OCLC 9198928. Retrieved July 2, 2018.
- ^ "340: Dick's Sporting Goods". Fortune. ISSN 0015-8259. Retrieved June 27, 2018.
- ^ "Dick's Sporting Goods latest record quarter prompts special dividend". www.bizjournals.com. Archived from the original on August 26, 2021. Retrieved September 14, 2021.
- ^ a b Caplan, David; Kindelan, Katie (February 28, 2018). "Dick's Sporting Goods CEO on decision to no longer sell assault-style rifles: 'We don't want to be a part of this story'". ABC News. Retrieved June 27, 2018.
- ^ "Dick's Sporting Goods cutting over 100 jobs; shares tumble as sales fall short". Pittsburgh Tribune-Review. May 16, 2017. Retrieved July 4, 2018.
- ^ Ha, Anthony (November 28, 2016). "Dick's Sporting Goods acquires mobile scorekeeping company GameChanger Media". TechCrunch. Retrieved July 18, 2018.
- ^ "Edward Stack". Forbes. ISSN 0015-6914. Retrieved June 7, 2018.
- ^ a b c Rittenhouse, Lindsay (December 13, 2017). "Dick's Sporting Goods Funds a Youth Immigrant Soccer Team in This Emotional Holiday Spot". Adweek. ISSN 0199-2864. Retrieved July 2, 2018.
- ^ Smith, Aaron (May 30, 2018). "Dick's soaring sales prove it can succeed without assault rifles". CNNMoney. Retrieved June 27, 2018.
- ^ Tascarella, Patty. "Dick's Sporting Goods elevates Lauren Hobart to CEO". Pittsburgh Business Times. American City Business Journals. Archived from the original on November 24, 2020. Retrieved August 5, 2021.
- ^ "Dick's Sporting Goods CEO Ed Stack Stepping Down After 36 Years". CBS Local Pittsburgh. November 25, 2020. Retrieved December 1, 2020.
- ^ Begley, Sarah (February 28, 2018). "What to Know about Edward Stack, the CEO of Dick's Sporting Goods". Time. ISSN 0040-781X. OCLC 1311479. Retrieved June 7, 2018.
- ^ Graham, Sherry (January 13, 2002). "Dick's Sporting Goods will come to Rock Road". Wichita Business Journal. Retrieved July 6, 2018.
- ^ Platsky, Jeff (February 28, 2018). "In the national spotlight: Ed Stack's roots are in Binghamton". Press & Sun-Bulletin. Gannett Company. ISSN 0886-8816. OCLC 12636926. Retrieved June 7, 2018.
- ^ "Dick's Sporting Goods to open at Crossroads Bellevue". Bellevue Reporter. Black Press. October 20, 2017. Retrieved June 7, 2018.
- ^ LaWell, Carolyn (October 27, 2010). "Ed Stack stays close to his business to make Dick's Sporting Goods better". Smart Business. Retrieved June 7, 2018.
- ^ Townsend, Matt (May 30, 2018). "Dick's Sporting Goods stock spikes 28 percent as earnings guidance outweighs gun controversy". Chicago Tribune. Tronc. ISSN 1085-6706. OCLC 60639020. Archived from the original on June 17, 2018. Retrieved June 27, 2018 – via Bloomberg L.P.
- ^ Martinez, Amy (October 29, 2009). "Dick's Sporting Goods expanding to Washington". The Seattle Times. Retrieved July 2, 2018.
- ^ Nguyen, Hang (October 2, 2008). "Chick's Sporting Goods store converts to Dick's — its first in CA". Orange County Register. Digital First Media. ISSN 0886-4934. OCLC 12199155. Retrieved July 4, 2018.
- ^ Kumar, Kavita (August 24, 2012). "New running specialty store, True Runner, coming to Brentwood Square". St. Louis Post-Dispatch. Lee Enterprises. ISSN 1930-9600. OCLC 1764810. Retrieved July 2, 2018.
- ^ Leonard, Kim (January 30, 2013). "Dick's to start Field & Stream outdoor equipment store". Pittsburgh Tribune-Review. Retrieved July 4, 2018.
- ^ Schooley, Tim (January 13, 2017). "Exclusive: True Runner to close in Shadyside". Pittsburgh Business Times. Retrieved July 4, 2018.
- ^ Fleisher, Chris (July 20, 2015). "Dick's Sporting Goods to open women's fitness, lifestyle boutiques". Pittsburgh Tribune-Review. Retrieved July 4, 2018.
- ^ Cooper, Rebecca (July 20, 2015). "Dick's Sporting Goods rolls out new national brand in Tysons Corner". Washington Business Journal. Retrieved July 4, 2018.
- ^ Ritenbaugh, Stephanie (July 17, 2017). "Dick's Sporting Goods prototype Chelsea Collective closing up shops". Pittsburgh Post-Gazette. Retrieved July 4, 2018.
- ^ a b Adamek, Steve (August 21, 2016). "Dick's Sporting Goods Acquires San Diego-Based Affinity Sports". San Diego Business Journal. ISSN 8750-6890. Retrieved July 2, 2018.
- ^ Schooley, Tim (August 20, 2013). "Field & Stream store best ever opening for Dick's Sporting Goods". Pittsburgh Business Times. Retrieved September 5, 2018.
- ^ Gartland, Dan (February 28, 2018). "Dick's Sporting Goods Ends Sale of Assault-Style Rifles After Florida School Shooting". Sports Illustrated. Retrieved September 5, 2018.
- ^ Pasquarelli, Adrianne (August 22, 2016). "Dick's Sporting Goods Taps Jason Aldean in New Campaign". Advertising Age. Retrieved July 2, 2018.
- ^ Popken, Ben (February 28, 2018). "Dick's Sporting Goods will stop selling assault-style rifles, Walmart raising age for gun sales". NBC News. Retrieved June 27, 2018.
- ^ "Walmart Joins Dick's Sporting Goods in Tighter Limits on Gun Sales". NPR. February 28, 2018. Retrieved June 27, 2018.
- ^ Platsky, Jeff (March 13, 2018). "Conklin center plays large role in Dick's online growth strategy". Press & Sun-Bulletin. Retrieved September 5, 2018.
- ^ Platsky, Jeff (January 25, 2018). "Dick's Sporting Goods CEO Ed Stack: 'We're going to be a winner'". Press & Sun-Bulletin. Retrieved July 2, 2018.
- ^ Tascarella, Patty (August 1, 2019). "Dick's Sporting Goods debuts private label line". www.bizjournals.com. Retrieved August 18, 2021.
{{cite web}}
: CS1 maint: url-status (link) - ^ Salpini, Cara (April 30, 2021). "Dick's builds out brand ambassador roster for private labels". Retail Dive. Archived from the original on April 30, 2021. Retrieved August 18, 2021.
- ^ Yoder, Jake. "It's game time! Climb the rock wall or swing for the fences at new Dick's House of Sport". Knoxville News Sentinel. Retrieved August 18, 2021.
- ^ "Dick's Sporting Goods 'House of Sport' opens in Rochester area". wgrz.com. Retrieved August 18, 2021.
- ^ Phil, Wahba (June 4, 2021). "Dick's is launching Public Lands chain in outdoors bet". Fortune. Archived from the original on June 4, 2021. Retrieved August 18, 2021.
- ^ a b "Dick's pays $225 million to acquire Golf Galaxy". The Denver Post. November 14, 2006. Retrieved July 2, 2018 – via Bloomberg News.
- ^ Phelps, David (July 7, 2008). "Golf Galaxy chain to lose its head office". Star Tribune. OCLC 43369847. Retrieved July 2, 2018.
- ^ La Monica, Paul R. (September 19, 2016). "Dick's Sporting Goods Is America's hottest retailer". CNNMoney. Retrieved July 2, 2018.
- ^ Stachura, Mike (October 21, 2016). "Reuters: Dick's Sporting Goods buys up Golfsmith stores at bankruptcy auction". Golf Digest. ISSN 0017-176X. Retrieved July 2, 2018.
- ^ Schooley, Tim (May 2, 2017). "Triad Golfsmith store rebranded as Golf Galaxy". Triad Business Journal. Retrieved July 2, 2018.
- ^ Dinges, Gary (May 15, 2017). "With Golfsmith's demise, Golf Galaxy steps into void". Austin American-Statesman. GateHouse Media. ISSN 1553-8451. Retrieved July 2, 2018.
- ^ "Furnace Brook LLC v. Aeropostale, Inc. et al". Dockets.justia.com. Retrieved December 1, 2012.
- ^ "Dick's Sporting Goods Announces Completion Of Review Of Acctg For Leases And Construction Allowances". Phx.corporate-ir.net. Archived from the original on September 30, 2013. Retrieved September 4, 2016.
- ^ "The Turtle Company Inc. V. Pro Specialities Group Inc. Et Al". Dockets.justia.com. June 29, 2009. Retrieved December 1, 2012.
- ^ ABC News (March 5, 2014). "Dick's Sporting Goods Accuses Rival Modell's of Spying". ABC News.
- ^ Verdon, Joan (April 13, 2014). "Settlement in Mitch Modell spy case". The Bergen Record. NorthJersey.com. Retrieved October 17, 2014.
- ^ EST, Maria Perez On 3/6/18 at 11:49 AM (March 6, 2018). "A 20-year-old from Oregon is suing Walmart and Dick's Sporting Goods for denying him a rifle". Newsweek. Retrieved June 5, 2019.
- ^ "18-year-old sues Dick's Sporting Goods in second-known gun policy lawsuit". WLTX. Retrieved June 5, 2019.
- ^ "Dick's Sporting Goods Settles Lawsuit over Gun Sale Age Restrictions".
- ^ Sherfinski, David (December 30, 2018). "Stores increasing age requirement to buy guns raises legal questions". The Washington Times.
- ^ Vuong, Andy (November 8, 2006). "Kroenke extols stadium deal". The Denver Post. Retrieved July 3, 2018.
- ^ Muret, Don (July 12, 2010). "Penguins add five new sponsors for Consol Energy Center". Pittsburgh Business Times. Retrieved July 3, 2018.
- ^ Herrington, Ryan. "Dick's Sporting Goods Open champ Scott McCarron is becoming a senior force after winning third title of 2017". Golf Digest. Retrieved July 2, 2018.
- ^ "Photos: Dick's Sporting Goods Pittsburgh Marathon". Pittsburgh Business Times. May 9, 2018. Retrieved July 2, 2018.
- ^ Rovell, Darren (July 24, 2009). "New Roethlisberger Spot Will Continue To Air". CNBC. Retrieved July 3, 2018.
- ^ Mamula, Kris B. (February 10, 2015). "Dick's in sponsorship deal with United States Olympic Committee". Pittsburgh Business Times. Retrieved July 3, 2018.
- ^ Pasquarelli, Adrianne (March 4, 2016). "Dicks Kicks Off its Olympics Marketing with New Spot". Advertising Age. Retrieved July 3, 2018.
- ^ Wattles, Jackie (July 20, 2016). "Olympic contenders get help clearing financial bar from sporting goods chain". CNNMoney. Retrieved July 3, 2018.
- ^ Knowlton, Emmett (March 17, 2016). "Sporting goods company gives hundreds of Olympic hopefuls one of their most-basic needs — a job". Business Insider. Retrieved July 3, 2018.
- ^ Kell, John (March 3, 2015). "Carrie Underwood is the newest threat to Adidas". Fortune. Retrieved September 5, 2018.
- ^ Carp, Sam (June 2, 2017). "Dick's Sporting Goods teams up with US Youth Soccer". SportsPro. Retrieved July 7, 2021.
- ^ Martin, Brandon (December 8, 2020). "Former Sooner Blake Griffin gifts athletic gear to boxing gym in Detroit". KOKH. Retrieved August 20, 2021.
- ^ "DICK'S SPORTING GOODS BECOMES OFFICIAL SPORTING GOODS RETAIL PARTNER OF THE WNBA". WNBA.com - Official Site of the WNBA. Retrieved May 13, 2022.
- ^ a b "Dick's Sporting Goods Foundation Launches $25 Million Youth Sports Initiative". Philanthropy News Digest. Foundation Center. March 12, 2014. Retrieved July 2, 2018.
- ^ "Gruden aids 4 youth football programs in Oakland area". USA Today. Associated Press. July 18, 2018. Retrieved July 18, 2018.
- ^ LoRé, Michael. "Dick's Sporting Goods Pledges To Give 1 Million Children Access To Sports". Forbes. Retrieved August 20, 2021.
External links
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- Official website
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- American companies established in 1948
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- Retail companies established in 1948
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