• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

1

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

2

CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea

3

Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?

Dick’s CEO Vows to Go After Sports Authority ‘Aggressively’

Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
Phil Wahba
By
Phil Wahba
Phil Wahba
Senior Writer
Down Arrow Button Icon
March 8, 2016, 12:53 PM ET
Dick's Sporting Goods Declines as Forecast Trails Estimates
Photographer: Craig Warga/Bloomberg via Getty ImagesPhotograph by Craig Warga — Bloomberg via Getty Images
Add Fortune on Google for similar content.

Dick’s Sporting Goods (DKS) disappointed Wall Street on Tuesday when it reported far deeper sales fourth quarter declines than even it had forecast.

But relief is one the way, in 2017 at least.

The recently announced bankruptcy protection filing of archrival Sports Authority called for 140 of its stores to be closed, giving Dick’s some breathing room to win back market share it has lost to everyone from Kohl’s (KSS) to Amazon.com (AMZN) to Walmart (WMT) in recent years as those stores have ramped up their activewear offerings.

Dick’s said comparable sales fell 2.5% during the holiday quarter (it had told Wall Street to expected them to range from a 2% drop to a 1% increase), meaning the retailer had its first annual comparable sales decline since 2009.

But when Sports Authority emerges from bankruptcy protection, it will have slimmed down to 323 stores, to Dick’s 640 or so namesake locations (the company also owns chain of golf stores). That means some markets will now be free of a direct competitor, but also that some of the prime locations Sports Authority is closing could be snapped up in bankruptcy auction by Dick’s.

“We’re going to be pretty aggressive to try to capture some of that displaced market share,” Dick’s CEO Ed Stack told Wall Street analysts on a call to discuss its financial results.

 

A decade ago, Dick’s and Sports Authority were roughly on par, two retailers with annual sales of $3 billion, and 300 stores each. With Sports Authority, the size gap will grow. While not committing to anything during Sports Authority’s bankruptcy auctions, Stack said the company would look at the stores its rival is trying to sell, as part of its efforts to build up Dick’s presence in markets where its presence is scarce. But those decisions will be made market by market, with favor given to areas without a Dick’s store.

For now, though, Sports Authority’s downsizing could hurt Dick’s. Clearance sales at stores it is closing, as well as those it is keeping, will pressure Dick’s to cut its own prices. But after that, it will be boon.

“As we go forward into 2017, net-net it will be positive,” Stack said.

About the Author
Phil Wahba
By Phil WahbaSenior Writer
LinkedIn iconTwitter icon

Phil Wahba is a senior writer at Fortune primarily focused on leadership coverage, with a prior focus on retail.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in

How Bobbi Brown reinvented herself—and outperformed the brand that bears her name
NewslettersMPW Daily
How Bobbi Brown reinvented herself—and outperformed the brand that bears her name
By Emma HinchliffeJune 15, 2026
1 hour ago
The First National Bank of America logo on a green layered background.
Personal FinanceCertificates of Deposit (CDs)
First National Bank of America CD rates 2026: High APYs and terms up to 10 years
By Joseph HostetlerJune 15, 2026
2 hours ago
Michelle Obama clarifies her famous ‘Go high’ motto: It’s not about anger or pain, but more about putting a safety lock on a gun
SuccessMost Powerful Women
Michelle Obama clarifies her famous ‘Go high’ motto: It’s not about anger or pain, but more about putting a safety lock on a gun
By Sydney LakeJune 15, 2026
2 hours ago
The $1 billion game that says AI can’t replace human creativity
MagazineGaming
The $1 billion game that says AI can’t replace human creativity
By Kamal AhmedJune 15, 2026
2 hours ago
wh
Middle EastWhite House
The U.S. says Iran will give up its uranium. Iran says it won’t. They’re due to sign a deal on Friday
By Munir Ahmed, Will Weissert, Sam Mednick and The Associated PressJune 15, 2026
2 hours ago
mitch
North AmericaCongress
Mitch McConnell, 84, hospitalized with no details released; term ends in January
By The Associated PressJune 15, 2026
2 hours ago

Most Popular

Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
Personal Finance
Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983
By John W. Diamond and The ConversationJune 12, 2026
3 days ago
CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
Success
CEO of $20 billion AI firm Perplexity says the secret to success is ‘sleeping with that fear’ that your competitor will steal your idea
By Preston ForeJune 13, 2026
2 days ago
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
Economy
Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
By Nick LichtenbergJune 14, 2026
1 day ago
Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world's top superpower can at least punch open a hole
Energy
Iran proved it can close the Strait of Hormuz, but the U.S. is advertising very loudly that the world's top superpower can at least punch open a hole
By Jason MaJune 14, 2026
22 hours ago
SpaceX surge further boosts Saudi billionaire prince’s fortune
Investing
SpaceX surge further boosts Saudi billionaire prince’s fortune
By Adveith Nair and BloombergJune 14, 2026
1 day ago
AI job disruption is here. The problem may be compounded because nearly 75% of people don't apply for unemployment benefits
AI
AI job disruption is here. The problem may be compounded because nearly 75% of people don't apply for unemployment benefits
By Jacqueline MunisJune 14, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.