Uh-Oh! Now Even Dick’s Sporting Goods Is Feeling the Pressure
Will Dick’s Sporting Goods (NYSE: DKS) be the next company to feel the squeeze in retail? After appearing to navigate the storm waters that sunk competing sporting goods chains, Dick’s reported disappointing first-quarter results that missed internal expectations, resulting in layoffs, an executive suite shuffle, and a slowdown in store openings.
The company is laying off some 160 people as it reevaluates its business model by slowing down its pace of store openings, consolidating vendors, and reducing dependency on “traditional marketing vehicles”.