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Dick’s Sporting Goods CEO Ed Stack Addresses Golf Cutbacks

Dick’s Sporting Goods CEO Ed Stack today "addressed for the first time the company's golf employee cutbacks and the potential impact on golf sales at Dick's and Golf Galaxy stores." Stack in a Q2 earnings call said, "We've got very good people who are there who can still help people. We don't think it's going to have any impact on the business." Stack and other Dick's execs "again emphasized the company’s shift away" from golf merchandise, "reallocating the capital from golf to more profitable lines of business in athletic wear for women and children" (BIZJOURNALS.com, 8/19).

The company reported a 10.3% increase in Q2 sales, but also saw profit drop 17% during the period (POST-GAZETTE.com, 8/19). At presstime, shares of Dick's were trading at $44.22, up 1.63% from the close of business yesterday (THE DAILY).

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