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Dick's Sporting Goods

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Dick's Sporting Goods, Inc.
Public
Traded as NYSEDKS
S&P 400 Component
Industry Retail
Founded 1948; 70 years ago (1948)
Binghamton, New York, United States
Founder Richard Stack
Headquarters Coraopolis, Pennsylvania, United States
Number of locations
610 (March 2015)[1]
Area served
United States
Key people
Edward W. Stack
(Chairman, CEO)
Products Sporting goods
Athletic apparel
Outerwear
Sportswear
Athletic shoes
Casual footwear
Boots
Fitness equipment
Bicycles
Outdoor equipment
Revenue Increase US$7.922 billion (2016) [2][3]
Decrease US$449.85 million (2016) [2][4]
Decrease US$287.4 million (2016) [2][5]
Total assets Increase US$4.058 billion (2016) [2][6]
Total equity Increase US$1.929 billion (2016) [2][6]
Number of employees
27,550 (2016) [7]
Subsidiaries Affinity Sports
Blue Sombrero
Field & Stream
Galyan's (acquired in 2004)
Golf Galaxy
Golfsmith (bankrupt in 2017)
Golfworks
Oshman's Sporting Goods
Sports Authority (bankrupt in 2016)
True Runner
Website www.dickssportinggoods.com

Dick's Sporting Goods, Inc., sometimes shortened to Dick's, is a Fortune 500 American sporting goods retailing corporation headquartered in Coraopolis, Pennsylvania in Greater Pittsburgh. [8][9]

Dick's has 610 stores in 47 states (no stores in Alaska, Hawaii, and Montana as of mid-March 2016),[1] primarily in the Eastern United States. The company also owns Golf Galaxy, Inc., a golf specialty retailer, with 82 stores in 30 states. The company also operates specialty chains True Runner and Field & Stream.[10][11]

Founded in 1948 by Richard "Dick" Stack, the chain has expanded to become one of the largest sporting goods retailers in the world.

History

In 1948, at the age of 18, Dick Stack worked at an Army/Navy store in his hometown of Binghamton, New York, after World War II. At the owner's request, "Dick" explored the idea of expanding the product line to include fishing and camping supplies, but the owner rejected Dick's suggestions, stating that Dick "would never make a good merchant".

When Dick recounted his story later that day, his grandmother advised, “Dick, always follow your dreams,” and gave him $300 from her savings. He rented a storefront and opened the first Dick's as a small "bait & tackle" fishing supply store, on Court Street near Howard Avenue.[12]

In the mid-1950s, the store expanded into the market of general sports merchandise and by the early 1960s, he was able to build and open a new store on the corner of Oliver and Court St., naming it "Dick's Sporting Goods". The store prospered, and Dick eventually opened a second store in Vestal, New York. In the 1970s, the Binghamton store moved next door to an even larger facility. Dick Stack headed the organization until his retirement in 1984.

Dick Stack's son, Edward "Eddie" Stack, succeeded him in the leadership of the company, expanding the two-store business rapidly. Edward W. Stack has served as chairman and chief executive officer of Dick's Sporting Goods since 1984, having started with the company full-time in 1977, and gradually working his way up in a variety of positions, including store clerk, merchandise manager, store manager and president.

In the early 1990s, Dick's began chain operations, opening additional stores across Upstate New York.[13] In 1994, Dick's moved its headquarters from Binghamton, New York, to Pittsburgh, Pennsylvania.[14]

In January 2016, Dick's launched Team Sports HQ, a platform of services for youth sport leagues. Services offered include software for online registration and team/league websites; custom uniforms and FanWear; and access to donations and sponsorships.[15]

In February 2018, Dick's acknowledged that in November 2017 it sold a shotgun to the perpetrator of the Stoneman Douglas High School shooting, albeit not the gun that was used in the shooting. Stating "on so many levels that the systems in place are not effective to protect our kids and our citizens,"[16] Dick's announced the immediate end of all sales of assault-style rifles,[17] which it also did in 2012. However, the company's CEO stated in interviews after the release that it will not reverse its stance on the issue.[18] Dick's said it would no longer sell high-capacity magazines.[16] Dick's announced that it would no longer sell guns to people under the age of 21.[19][16]

In April 2018, Dick's hired three lobbyists from The Glover Park Group for "lobbying related to gun control"[20]. In response to that, Sturm, Ruger & Co.[21], Springfield Armory, Inc.[22], and O.F. Mossberg & Sons[23] announced they will discontinue all sales to Dick's.

Corporate

The company used the e-tailing Web site dickssportinggoods.com, operated by GSI Commerce under license and e-commerce agreements. Because the e-commerce site was operated under a company separate from Dick's Sporting Goods, the site often carried a wider selection than what is available in the stores with prices occasionally varying.[24] Starting in 2013, the company began using a ship-from-store platform for online orders. This means that the company has a detailed inventory for every store, and pulls new and used inventory from a local store to fulfill online orders to reduce shipping costs. As of March 2009, customers may return items purchased from the Web site.[25]

Sponsorship

The company sponsors a number of sporting events, including:

Professional sports teams sponsored by Dick's include the NHL's Pittsburgh Penguins and Colorado Avalanche, and the Colorado Rapids of the MLS.

Dick's has also sponsored SportsMatter.com, a crowdfunding site to help support underfunded youth sports leagues.[27]

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.[28]
  • 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.[29]
  • In August 2006, Dick's was accused of infringing two patents owned by Cushion Technologies, LLC, in a lawsuit filed in the Eastern District of Texas.[30] In April 2007, Dick's settled with the plaintiff and the lawsuit was dismissed.
  • 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.[31]
  • In 2014, Dick's began a lawsuit against Modell's Sporting Goods CEO, Mitchell Modell (who featured on an episode of Undercover Boss in 2012), for going undercover into their stores to gain access to their retail secrets.[32][33]

Acquisitions and expansion

Map of Dick's store locations as of 2015.

Dick's Sporting Goods opened in Florida and California in 1997. Seven years later, the chain acquired the entirety of Galyan's, an Indiana-based sporting chain. They also acquired Golf Galaxy and Chick's in 2007.

Plans were announced in 2010 to open its first store in Washington state (Puyallup) "with six more locations [in Oregon] 'coming soon.'"[34] Oklahoma (Broken Arrow)[35] and Idaho (Pocatello) followed in 2011,[36] then New Mexico (Albuquerque) in 2012.[37]

On August 16, 2013, Dick's Sporting Goods opened its first Field & Stream Shop in Cranberry Township, Pennsylvania at the site of the former Dick's location in Cranberry (Dick's had moved to a newer location nearby in 2012), operating as a competitor to Cabela's.[38] Willie Robertson of the reality television series Duck Dynasty made a speaking appearance at a wedding at the store, with both participants dressed in camouflage,[39] as well as retired WWE wrestler Shawn Michaels (currently hosting MacMillan River Adventures on the Outdoor Channel) appearing at the store to sign autographs for the grand opening.[40] Later in the month, the store began selling AR-15 semi-automatic rifles,[41] ending the chain's 2012 self-imposed suspension of sales of certain semi-automatic firearms following the Sandy Hook Elementary School shooting.[42] Dick's has plans to open at least two more Field & Stream Shop locations in Erie, Pennsylvania (on the site of a proposed Cabela's store that Dick's had purchased before Cabela's had a chance to buy it) and Crescent Springs, Kentucky.[38] Dick's had bought the retail-related intellectual property rights to the Field & Stream name from the magazine's owner Bonnier Corporation in 2012 after having licensed the name for several years before. Bonnier remains owner of the magazine.[38]

On June 30, 2016, Dick's Sporting Goods purchased the intellectual property of now-defunct Sports Authority in an auction. The sale was approved on July 21, 2016.

In August 2016, Dick's purchased San Diego-based Affinity Sports, a sports management technology company. Affinity will expand the scope of the Team Sports HQ platform by offering management technology for large-scale sports organizations and national governing bodies.[15]

The apostrophe in the Dick's Sporting Goods logo contains several balls; the most common version includes a golf ball, baseball, soccer ball and basketball, in that order from bottom to top.

See also

References

  1. ^ a b "DICK'S Sporting Goods Announces Grand Opening Celebration in Twin Falls, ID". March 16, 2015. Archived from the original on 2015-04-02. Retrieved 2015-03-18. 
  2. ^ a b c d e "DICK'S Sporting Goods Reports Fourth Quarter and Full Year 2013 Results; Exceeds Expectations". Dick's Sporting Goods. March 11, 2014. Retrieved May 19, 2014. 
  3. ^ "Dick's sporting goods INC (DKS:New York): Earnings Estimates - Businessweek". Investing.businessweek.com. Retrieved 2012-12-01. 
  4. ^ "Dick's Sporting Goods Income Statement - Annual (DKS)". Ycharts.com. Retrieved 2012-12-01. 
  5. ^ "DKS Income Statement | Dick's Sporting Goods Inc Commo Stock - Yahoo! Finance". Finance.yahoo.com. Retrieved 2012-12-01. 
  6. ^ a b "Dick's Sporting Goods INC (NYSE: DKS) - Balance Sheet". Forbes. 
  7. ^ "Dick's Sporting Goods". Forbes.com. July 2015. Retrieved July 30, 2015. 
  8. ^ "Contact Us". Dickssportinggoods.com. Retrieved 2016-05-03.  "DICK’S Sporting Goods, Inc. 345 Court Street Coraopolis, PA 15108"
  9. ^ "Map Archived May 3, 2016, at the Wayback Machine.." Findlay Township, Allegheny County, Pennsylvania. Retrieved on May 3, 2016.
  10. ^ "Dick's Sporting Goods, Inc. (Investor Relations)". Dick's Sporting Goods. Retrieved May 19, 2014. 
  11. ^ "Dick's Sporting Goods, Inc. - Investor Relations". Thomson.mobular.net. 1999-01-01. Retrieved 2012-12-01. 
  12. ^ "Dick's History—About Us". Dick's Sporting Goods. Archived from the original on July 10, 2011. 
  13. ^ Niedt, Bob (April 29, 1993). "Wilmorite to boost CNY malls". Syracuse Herald-Journal. 
  14. ^ Lindeman, Teresa F. (November 21, 2004). "Ed's way stacks up well for Dick's Sporting Goods". Pittsburgh Post-Gazette. Retrieved December 25, 2006. 
  15. ^ a b Adamek, Steve (August 21, 2016). "DICK'S Sporting Goods Acquires San Diego-Based Affinity Sports". San Diego Business Journal. Retrieved 22 August 2016. 
  16. ^ a b c "Media Statements". Dick's Sporting Goods, Inc. February 28, 2018.
  17. ^ @dicks (February 28, 2018). "We deeply believe that this country's most precious gift is our children. They are our future. We must keep them safe. Beginning today, DICK'S Sporting Goods is committed to the following: d.sg/RTC" (Tweet) – via Twitter. 
  18. ^ Stewart, Emily. "Dick's Sporting Goods says it won't sell assault weapons anymore. It said the same thing in 2012". Vox. Retrieved 28 February 2018. 
  19. ^ Creswell, Julie (February 28, 2018). "Dick's Sporting Goods, Major Gun Retailer, Stops Selling Assault-Style Weapons". The New York Times. Retrieved February 28, 2018. 
  20. ^ https://soprweb.senate.gov/index.cfm?event=getFilingDetails&filingID=42DCBF70-A497-4192-AA06-E598CB19A30D&filingTypeID=1
  21. ^ https://www.facebook.com/Ruger/posts/1800453980019049
  22. ^ https://www.facebook.com/SpringfieldArmoryUSA/posts/10155883466519425
  23. ^ https://www.mossberg.com/wp-content/uploads/2018/05/Mossberg-Terminates-Relationship-With-Dicks-Sporting-Goods.pdf
  24. ^ "Dick's Sporting Goods : Product Availability and Price". Dickssportinggoods.com. Retrieved 2011-09-13. 
  25. ^ "Dick's Sporting Goods : Returns". Dickssportinggoods.com. Retrieved 2011-09-13. 
  26. ^ "Sponsorship of AYSA". Arizona Soccer Association. Retrieved 11 June 2018. 
  27. ^ "SportsMatter". Sportsmatter.com. Retrieved 29 August 2014. 
  28. ^ "Furnace Brook LLC v. Aeropostale, Inc. et al". Dockets.justia.com. Retrieved 2012-12-01. 
  29. ^ "Dick's Sporting Goods Announces Completion Of Review Of Acctg For Leases And Construction Allowances". Phx.corporate-ir.net. Retrieved 2016-09-04. 
  30. ^ "Cushion Technologies, LLC. v. Adidas Salomon North America, Inc. et al". Dockets.justia.com. 2006-08-31. Retrieved 2012-12-01. 
  31. ^ "The Turtle Company Inc. V. Pro Specialities Group Inc. Et Al". Dockets.justia.com. 2009-06-29. Retrieved 2012-12-01. 
  32. ^ "Inspired by Undercover Boss? Modell's CEO and reality star 'pretended to be the owner of Dick's Sporting Goods to convince staff to show him into the back and give him their retail secrets'". Daily Mail. London. 2014-02-28. 
  33. ^ ABC News. "Dick's Sporting Goods Accuses Rival Modell's of Spying". ABC News. 
  34. ^ Martinez, Amy (2009-10-29). "Dick's Sporting Goods expanding to Washington". The Seattle Times. Retrieved 2010-02-19. 
  35. ^ "Dick's Sporting Goods Store To Open This Month In Broken Arrow". NewsOn6.com. 2011-10-04. Retrieved 2011-10-06. 
  36. ^ "New sporting goods store coming to Chubbuck". idahostatejournal.com. 2010-12-21. Retrieved 2012-02-23. 
  37. ^ "Dick's To Open Albuquerque Store". Albuquerque Journal. 2011-09-14. Retrieved 2011-10-06. 
  38. ^ a b c Lindeman, Teresa F. (2013-08-14). "Field & Stream store gears up for grand opening in Cranberry - Pittsburgh Post-Gazette". Pittsburgh Post-Gazette. 
  39. ^ "'Duck Dynasty' star pops by for western Pa. couple's camouflage weddi…". 18 August 2013. Archived from the original on 18 August 2013. Retrieved 28 February 2018. 
  40. ^ > "WWE Hall of Famer Shawn Michaels 'like kid in a candy store' at new Field & Stream". WTAE. 18 February 2016. 
  41. ^ O'Connor, Clare (2013-08-20). "Despite Self-Imposed Ban, Dick's Sporting Goods Selling AR-15 Rifles At New Offshoot". Forbes. Retrieved 2013-09-24. 
  42. ^ "Sporting goods chain suspends sale of certain semi-automatic after shooting". CNN. 2012-12-18. 

External links

  • Dick's Sporting Goods website
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