Dick's Sporting Goods
Dick's Sporting Goods
Public | |
Traded as | |
Industry | Retail |
Founded | 1948 inBinghamton, New York, U.S. |
Founder | Richard "Dick" Stack |
Headquarters | |
858[1](2018) | |
Revenue | |
30,300 (2018) | |
Subsidiaries | |
Website |
Dick's Sporting Goods, Inc. is an American sporting goods retail company, based in Coraopolis, Pennsylvania. The company was established by Richard "Dick" Stack in 1948, and has approximately 850 stores and 30,000 employees, as of 2018. Dick's is the nation's largest sporting goods retailer, and is listed on the Fortune 500.[3]
Public | |
Traded as | |
Industry | Retail |
Founded | 1948 inBinghamton, New York, U.S. |
Founder | Richard "Dick" Stack |
Headquarters | |
858[1](2018) | |
Revenue | |
30,300 (2018) | |
Subsidiaries | |
Website |
Company overview
Dick's is the largest sporting goods retail company in the United States,[4] with approximately 850 stores, as of 2018.[5] The public company is based in Coraopolis, Pennsylvania,[6] outside Pittsburgh, and has approximately 30,300 employees, as of January 2018.[7] The company's subsidiaries include Field & Stream and Golf Galaxy, and previously, Chelsea Collective and True Runner.[8] In 2017, there were 690 Dick's stores, close to 100 Golf Galaxy locations, and approximately 30 Field & Stream stores.[9] The company launched Team Sports HQ, a collection of digital products, following the acquisitions of Affinity Sports, Blue Sombrero, and GameChanger.[10]
History
Edward W. Stack and his siblings purchased Dick's from their father in the early 1980s,[16] when the company had two locations in Upstate New York.[17] Stack established a board of directors, opened additional stores, and relocated the company's headquarters to Pittsburgh in 1994.[18] 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.[19]
The company launched Dick's Team Sports HQ in early 2016, offering youth sports teams websites, uniforms, and sponsorship options.[28]
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.[5][8] Dick's-branded stores had suspended assault weapon sales following the Sandy Hook Elementary School shooting in 2012, but the guns were still available for purchase at Field & Stream locations.[32][33] Dick's has never carried bump stocks.[5]
Acquisitions
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.[39] Dick's rebranded 36–38 Golfsmith stores in 16 U.S. states as Golf Galaxy in 2017.[40] This increased the number of Golf Galaxy stores to 98, located in 33 states.[41]
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.[42]
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.[43]
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.[44]
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.[45]
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.[46][47] 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.[48] The second case was reported as "resolved" by an attorney for the plaintiff in late 2018 without disclosing details of any settlement.[49]
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.[50] Dick's has sponsored the Pittsburgh Penguins and the team's home arena, PPG Paints Arena (formerly Consol Energy Center).[51]
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.[55] 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.[56][57] The athletes worked in 89 stores in 32 states.[58]
Dick's partnered with Carrie Underwood in 2015 to launch Calia, a fitness lifestyle line.[59]
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.[60] More than $50 million has been pledged for youth sports initiatives, benefitting hundreds of thousands of athletes, as of mid 2018.[61] 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.[60] 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.[12] Dick's later featured the team in a documentary-style advertisement called reVision FC: A Holiday Assist.[12]
See also
·Dick's Supermarket, an unrelated and now-defunct grocery chain.