Dicks Sporting Goods Inc Stock Price, News & Analysis

DICK'S Sporting Goods (NYSE: DKS) is set to expand with the opening of 11 new locations in October, including six DICK'S Sporting Goods stores, two Golf Galaxy sites, and three Warehouse Sale locations, creating approximately 400 jobs. The company will also introduce Soccer Shops for an enhanced soccer experience and host its first Loyalty Appreciation Week from October 5 to 11, offering bonus points to loyalty members. Following these openings, DICK'S will operate 732 stores nationwide, aiming to elevate customer engagement and sales through innovative experiences.

DICK'S Sporting Goods (NYSE: DKS) announced its commitment to eliminate single-use plastic bags from its stores by 2025, aligning with the Closed Loop Partners' Circular Economy initiative. The U.S. uses 100 billion plastic bags annually with less than 10% recycled. As part of the effort, DICK'S joins the Consortium to Reinvent the Retail Bag, partnering with major retailers like CVS Health and Walmart. The initiative will explore sustainable solutions to replace traditional retail bags, focusing on innovation and community engagement to reduce environmental impact.

DICK'S Sporting Goods has appointed Sandeep Mathrani, CEO of WeWork, and Desiree Ralls-Morrison, SVP and General Counsel at Boston Scientific, to its board of directors. This move aims to enhance the company's strategy as it integrates online and brick-and-mortar operations. Mathrani expresses confidence in DICK'S ability to lead in the sporting goods sector, while Ralls-Morrison aims to contribute to the company's innovative legacy. Former board members Vincent C. Byrd and Allen R. Weiss have stepped down after nearly 17 years of service.

DICK'S Sporting Goods (NYSE: DKS) is set to enhance its presence with the opening of three stores across the U.S. in September 2020. This includes a DICK'S store, a combined DICK'S and Golf Galaxy location, and a standalone Golf Galaxy store, collectively creating approximately 150 jobs. The new locations will showcase exclusive offerings from the company's private brands alongside major national vendors. The grand openings will feature ceremonies and customer giveaways, further promoting community engagement.

DICK'S Sporting Goods, Inc. (NYSE: DKS) will present at the Goldman Sachs 27th Annual Global Retailing Virtual Conference on September 9, 2020, at 8:20 a.m. Eastern Time. The presentation will be available via live webcast or archived replay on the Investor Relations website at investors.DICKS.com. As of August 1, 2020, DICK'S operates 726 locations across the U.S., providing a wide array of sports equipment and apparel. The company is headquartered in Pittsburgh, PA, and also owns Golf Galaxy and Field & Stream specialty stores.

DICK'S Sporting Goods (NYSE: DKS) reported a strong second quarter for 2020, achieving net income of $276.8 million, or $3.12 per diluted share, amid ongoing pandemic challenges. Net sales increased by 20.1% to approximately $2.71 billion, with eCommerce sales skyrocketing 194%. The company incurred $42 million in incremental safety costs, partially offset by a $28 million recovery from prior inventory write-downs. Despite temporary store closures, consolidated same store sales rose 20.7%. Cash reserves stand at $1.1 billion, with no current debt under its credit facility.

DICK'S Sporting Goods (NYSE: DKS) is set to expand its retail network in August 2020 by opening 11 new stores across nine states. This includes four DICK'S Sporting Goods stores, one combination DICK'S and Golf Galaxy location, five Warehouse Sale stores, and one OVERTIME outlet. The openings aim to create approximately 300 jobs in local communities. The Warehouse Sale locations will offer discounts of 30-90% on popular brands. Following these additions, DICK'S will operate 729 DICK'S Sporting Goods stores nationwide.

DICK'S Sporting Goods, Inc. (NYSE: DKS) will announce its second quarter fiscal 2020 results on August 26 before the market opens. A conference call to discuss these results is scheduled for 10:00 a.m. Eastern Time on the same day, accessible via the company's Investor Relations website. As of August 1, 2020, DICK'S operates 726 locations across the U.S. and also has a strong online presence integrated with its retail network. The company provides a wide range of sporting goods, including equipment and apparel.

DICK'S Sporting Goods (NYSE: DKS) announced the closure of all its stores and distribution centers on Thanksgiving Day, November 26, 2020, including its specialty stores Golf Galaxy and Field & Stream. The company will also continue offering a 15% pay premium to its employees through the end of the year. Historically, most stores were open during Thanksgiving with limited hours. DICK'S locations will resume standard hours on November 25, with holiday hours starting on November 27. This policy shift reflects the company's commitment to employee well-being and appreciation.