NGF TOP 100 BUSINESSES IN GOLF
DICK’S Sporting Goods/Golf Galaxy
Edward Stack, Chairman & CEO
Lauren R. Hobart, President
Lee J. Belitsky, Executive Vice President, Chief Financial Officer
Keri Jones, Executive Vice President, Chief Merchant
Founded in 1948, DICK’S Sporting Goods, Inc., offers a broad assortment of high quality, brand name sporting goods equipment, apparel and footwear, at more than 700 specialty stores across the United States. In 2006, the company acquired Golf Galaxy, Inc., a golf-specialty retailer which currently has 98 stores in 33 states.
The latter, which opened its first store in 1997, offers majors brands of clubs, apparel, shoes, golf balls, bags, technology and accessories. Also available are custom club fitting services, lessons from PGA/LPGA professionals, a club trade-in program, a pre-owned club program and full service club repair.
“The retail market is currently in flux,” said Edward Stack, chairman & CEO, DICK’S Sporting Goods, during a 2017 earnings call. “The environment is highly competitive and dynamic. We continue to believe this disruption translates into opportunity for our business long-term. We like the position we occupy in the sporting goods marketplace. And as this industry continues to consolidate, we believe we will become stronger.”
DICK’S is positioned as the dominant player in the golf retail market given its more than 800 locations — both specialty stores and golf-specific outlets.
Stack’s father, Dick, founded the company after working at an Army surplus store in upstate New York at the age of 18. Given $300 from his grandmother’s cookie jar, Dick Stack first opened a bait-and-tackle shop in Binghamton and then expanded his product line in 1958 to include many of the sports found at DICK’S Sporting Goods today.
DICK’S stores have dedicated golf sections, offering golf clubs, balls, bags, training equipment and the latest in golf apparel and footwear. The company also offers its products through a content-rich eCommerce platform that’s integrated with its store network, providing customers with a 24-hour storefront.
Additionally, DICK’S created the DICK’S Sporting Goods Foundation, a tax-exempt, non-profit corporation that supports the company’s charitable and philanthropic activities, and has a mission to inspire and enable sports participation. It also has sponsored the PGA TOUR Champions DICK’S Sporting Goods Open for the past 11 years.
DICK’S Sporting Goods has benefited from the closures of other sporting goods outlets and golf specialty retailers that sold golf products, Golfsmith and Sports Authority most prominent among them.
As the retail sector continues to stabilize after its consolidation, DICK’S will continue to have the opportunity to grow market share. Golf and athletic wear have been among the company’s strongest segments. DICK’S in May of 2017 celebrated the opening of 36 new Golf Galaxy locations that were formerly Golfsmith stores, helping to bring additional stability back to the brand it owns and operates.