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Dick's Sporting Goods, Inc.
Type Public (NYSEDKS)
Founded Binghamton, New York, U.S. (1948)
Founder(s) Richard "Dick" Stack
Headquarters Pittsburgh, Pennsylvania, U.S.
Area served United States
Key people Edward W. Stack
(Chairman & CEO)
Joe H. Schmidt
(Chairman & COO)
Industry Retail
Products Apparel
Sports equipment
Shoes
Revenue US$ 3.888 billion (2008)
Operating income US$ 268.82 million (2008)
Net income US$ 155.04 million (2008)
Total assets US$ 2.035 billion (2008)
Total equity US$ 888.52 million (2008)
Employees 10,400 (2008)
Website DicksSportingGoods.com

Dick's Sporting Goods, Inc. (NYSEDKS) is a sporting goods retailer, headquartered on the grounds of Pittsburgh International Airport in Findlay Township near Pittsburgh, Pennsylvania, Dick's has 409 stores in 40 states as of August 1 2009, primarily in the eastern half of the United States. The Company also owns Golf Galaxy, Inc., a multi-channel golf specialty retailer, with 91 stores in 31 states.[1]

Founded in 1948 by Richard "Dick" Stack at the age of 18, the chain has expanded enormously since the 1990s, in part through acquisitions, and is now one of the largest in the world.

Contents

History

At the age of 18, Richard 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. Thereafter, 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[2].

In the mid-1950s, the store expanded into the market of general sports merchandise at the urging of Dick's many loyal customers. 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, NY. In the 1970s, the Binghamton store moved next door to an even larger facility. Dick Stack shepherded the family-owned and operated 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. Devin is the creator

In the early 1990s, Dick's began chain operations, opening additional stores across Upstate New York,[3]. In 1994, responding to the pressures and needs of an expanding corporation, Dick's moved its headquarters from Binghamton, NY to Pittsburgh, PA.[4] Edward has guided the company successfully through its relocation and its IPO to tremendous growth.

Corporate

The company's e-tailing website (located at dickssportinggoods.com), is operated by GSI Commerce, Inc. under license and e-commerce agreements. Because the e-commerce website is operated under a company separate from Dick's Sporting Goods, the website often carries a wider selection than what is available in the stores with prices occasionally varying.[5] As of March 2009, customers may now return items purchased from the website. However, customers will only be able to get a Merchandise Credit for what they had paid.[6].

Excluding revenues from Chicks, DKS generated 2007 revenues of $3.965B in fiscal 2003. With the inclusion of Chicks, DKS operates over 450 stores, surpassing The Sports Authority on stores and revenue.

Lawsuits and Legal Proceedings

  • In August of 2006, Dick's was accused of infringing two patents owned by Cushion Technologies, LLC, in a lawsuit filed in the Eastern District of Texas.[7] In April 2007, Dick's settled with the plaintiff and the lawsuit was dismissed.
  • In June of 2009, Dick's was accused of infringing a patent owned by The Turtle Company, Inc., in a lawsuit filed in District Court for the District of New Jersey.[8]
  • In July of 2009, Dick's was accused of infringing a patent owned by Furnace Brook, LLC, in a lawsuit filed in the Northern District of Illinois.[9]

Acquisitions & Expansion

  • 2004 - Forty-eight locations from Galyan's Trading Company, another sporting goods store.
  • 2007 - Golf Galaxy, 65 golf superstores
  • 2007 - Chick's Sporting Goods, a California-based company.
  • 2010 - Plans to open first store in Washington state (Pullyap, WA) "with six more locations [in Oregon] 'coming soon.'" [10]

Competition

Dick's Sporting Goods major competitor stores include:

References

  1. ^ Dick's Sporting Goods, Inc. - Investor Relations
  2. ^ http://www.dickssportinggoods.com/corp/index.jsp?page=aboutU
  3. ^ Niedt, Bob (1993-04-29). "Wilmorite to boost CNY malls". Syracuse Herald-Journal. 
  4. ^ Lindeman, Teresa F (2004-11-21). "Ed's way stacks up well for Dick's". Pittsburgh Post-Gazette. 
  5. ^ http://www.dickssportinggoods.com/helpdesk/availabilityPop.jsp
  6. ^ http://www.dickssportinggoods.com/helpdesk/index.jsp?display=returns&subdisplay=returns
  7. ^ [1]
  8. ^ [2]
  9. ^ [3]
  10. ^ Martinez, Amy (2009-10-29). "Dick's Sporting Goods expanding to Washington". The Seattle Times. 

External links








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