PITTSBURGH- Despite a cutback in new-store openings, management at Dick’s Sporting Goods still sees the country supporting a total of 800 units, up from the 384 it currently operates, chairman and CEO Edward Stack said during the retailer’s fourth-quarter conference call.
"Our business has held up relatively well in this environment," he said of the recession. "We feel there is going to be consolidation in this industry."
Stack specifically pointed to the Chapter 11 filing by Wilsonville, OR-based Joe’s Sports & Outdoor, a 30-store chain in the Northwest. That move could give Dick’s a chance to move into that region of the country, and if bankruptcies by other chains follow, there could be more opportunities, he said.
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"Our business has held up relatively well in this environment," he said of the recession. "We feel there is going to be consolidation in this industry."
Stack specifically pointed to the Chapter 11 filing by Wilsonville, OR-based Joe’s Sports & Outdoor, a 30-store chain in the Northwest. That move could give Dick’s a chance to move into that region of the country, and if bankruptcies by other chains follow, there could be more opportunities, he said.
Read the rest of the story....
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