Welcome to our dedicated page for Dicks Sporting Goods news (Ticker: DKS), a resource for investors and traders seeking the latest updates and insights on Dicks Sporting Goods stock.
DICK'S Sporting Goods, Inc. (NYSE: DKS) generates a steady flow of news that reflects its role in the sporting goods retail industry, its expansion through acquisitions and its focus on youth sports and sport-related culture. Founded in 1948 and headquartered in Pittsburgh, Pennsylvania, the company operates banners such as DICK'S Sporting Goods, Golf Galaxy, Public Lands and Going Going Gone!, and it owns the Foot Locker business, including the Foot Locker, Kids Foot Locker, Champs Sports, WSS and atmos banners.
News about DICK'S Sporting Goods frequently covers financial results and outlook, including quarterly earnings releases, comparable sales trends and updates to guidance for what it calls the DICK'S Business. These announcements may also discuss the performance of the Foot Locker Business following its acquisition and provide commentary on integration activities and asset reviews.
Investors and followers can also expect corporate and strategic updates, such as the completion of the Foot Locker acquisition, capital markets transactions, and leadership appointments. For example, the company has reported the appointment of a President of Foot Locker International to oversee international operations across Europe, Asia and Australia.
Another major category of news involves marketing campaigns, brand content and seasonal promotions. DICK'S Sporting Goods issues releases on holiday campaigns, gift guides, and Black Friday or other seasonal deals, often featuring well-known athletes and entertainers. Its in-house Cookie Jar & A Dream Studios produces sports-focused content like the unscripted series "Play It Forward: Game On," which also appears in company news.
Finally, DICK'S Sporting Goods regularly highlights community and philanthropic initiatives tied to The DICK'S Sporting Goods Foundation and the Sports Matter program, including matched donations and partnerships to build youth sports facilities. For ongoing coverage of these developments, this news page aggregates company press releases and related updates in one place.
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.
DICK'S Sporting Goods (NYSE: DKS) has appointed NFL star Larry Fitzgerald, Jr. to its Board of Directors. Fitzgerald has been affiliated with the company for nearly a decade and brings valuable insights from his sports experience and community involvement. He has a deep understanding of market dynamics and a commitment to youth sports, demonstrated through his work with the DICK'S Sporting Goods Foundation. CEO Ed Stack emphasized Fitzgerald's integrity and alignment with the company's values. This addition is expected to enhance DICK'S leadership in the retail and sports industries.
DICK'S Sporting Goods, Inc. (NYSE: DKS), the leading U.S. sporting goods retailer, has appointed NFL Pro Bowler Larry Fitzgerald, Jr. to its Board of Directors. Fitzgerald, who has been associated with DICK'S for nearly a decade, brings valuable insights from his sports career and business experience, including a minority stake in the NBA's Phoenix Suns. Chairman Ed Stack highlighted Fitzgerald’s integrity and shared values as key assets. Fitzgerald's involvement in community initiatives, including youth sports, aligns with the retailer's mission to inspire athletes.
DICK'S Sporting Goods (NYSE: DKS) is set to enhance its market presence by launching two new store concepts: OVERTIME by DICK'S Sporting Goods and DICK'S Sporting Goods Warehouse. These stores will provide significant discounts on popular athletic brands, offering up to 75% off at OVERTIME locations and up to 90% off at Warehouse Sale sites. The first OVERTIME stores will open on June 17, 2020, in Connecticut, Maryland, and Pennsylvania, while five Warehouse locations debut on June 15, 2020. This expansion brings the total number of outlet and clearance centers to 11 across nine states.