DICK'S SPORTING GOODS TO ACQUIRE MOOSEJAW

Rhea-AI Summary

DICK'S Sporting Goods (NYSE: DKS) announced its acquisition of leading outdoor retailer Moosejaw from Walmart, aiming to enhance its outdoor portfolio, which includes the Public Lands brand. Moosejaw, founded in 1992, boasts a robust e-commerce platform and a loyal customer base, while also operating physical stores in several states. The acquisition is expected to close in March 2023, with Moosejaw CEO Eoin Comerford reporting to DICK'S President Todd Spaletto post-acquisition. DICK'S views this strategic move as a significant opportunity to capitalize on the growing multibillion-dollar outdoor market.

Positive

• Strategic acquisition of Moosejaw expands DICK'S outdoor portfolio.
• Moosejaw's strong e-commerce platform increases market reach.
• Potential for revenue growth by enhancing customer experience with expanded product offerings.

Negative

• Potential integration challenges may affect operational efficiency.

DICK'S sees investment in leading outdoor retailer as growth opportunity

PITTSBURGH, Feb. 22, 2023 /PRNewswire/ -- DICK'S Sporting Goods (NYSE: DKS) today announced it has agreed to acquire leading outdoor retailer Moosejaw from Walmart. The acquisition will expand DICK'S outdoor portfolio – currently led by its specialty retailer, Public Lands – and reaffirm its commitment to the long-term business opportunity in the growing multibillion-dollar outdoor category.

Moosejaw, founded in Michigan in 1992, operates a highly successful e-commerce platform, has a loyal customer base, strong vendor relationships with leading outdoor brands and a passionate workforce. Moosejaw also operates brick-and-mortar locations in Arkansas, Colorado, Illinois, Kansas, Michigan and Missouri.  

"We admire what Moosejaw has accomplished over the past 30 years as leaders in the outdoor industry and look forward to the opportunity to share insights and learn from one another," said Todd Spaletto, President, Public Lands and Senior Vice President, DICK'S Sporting Goods. "We believe there's potential to grow the Moosejaw business and provide compelling experiences and an expanded product assortment to its millions of loyal customers."

After several years of development, DICK'S launched Public Lands in 2021 with the mission to celebrate and protect public lands for all. The brand has since grown to seven retail locations and a thriving e-commerce presence. Once the acquisition closes, Moosejaw CEO Eoin Comerford will report to Spaletto.

The deal is expected to close in March 2023.

Forward-Looking Statements Involving Known and Unknown Risks and Uncertainties

This release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 regarding the acquisition of Moosejaw and the growth potential of the Moosejaw business. Factors that could cause actual results to differ materially from the expectations expressed or implied herein, include whether the acquisition of Moosejaw closes within the anticipated time frame and our ability to successfully integrate the Moosejaw business. For additional information on these and other factors that could affect the Company's results, see the risk factors set forth in the Company's filings with the Securities and Exchange Commission ("SEC"), including the most recent Annual Report filed with the SEC on March 23, 2022.

About DICK'S Sporting Goods 

DICK'S Sporting Goods (NYSE: DKS) creates confidence and excitement by personally equipping all athletes to achieve their dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer serves athletes and outdoor enthusiasts in more than 850 DICK'S Sporting Goods, Golf Galaxy, Field & Stream, Public Lands, Going Going Gone! and Warehouse Sale stores, online, and through the DICK'S mobile app. DICK'S also owns and operates DICK'S House of Sport and Golf Galaxy Performance Center, as well as GameChanger, a youth sports mobile app for scheduling, communications, live scorekeeping and video streaming.

Driven by its belief that sports make people better, DICK'S has been a longtime champion for youth sports and, together with its Foundation, has donated millions of dollars to support under-resourced teams and athletes through the Sports Matter program and other community-based initiatives. Additional information about DICK'S business, corporate giving, sustainability efforts and employment opportunities can be found on dicks.com, investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and on Facebook, Twitter and Instagram.

Contact: DICK'S Sporting Goods –
press@dcsg.com

Category: Company

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SOURCE DICK'S Sporting Goods, Inc.

FAQ

What is the acquisition deal between DICK'S Sporting Goods and Moosejaw?

DICK'S Sporting Goods is acquiring Moosejaw from Walmart to enhance its outdoor portfolio and capitalize on the outdoor market.

When is the DICK'S and Moosejaw acquisition expected to close?

The acquisition is expected to close in March 2023.

How will the acquisition of Moosejaw affect DICK'S Sporting Goods?

The acquisition is aimed at increasing DICK'S market reach and potential revenue growth in the outdoor category.

Who will lead Moosejaw after the acquisition by DICK'S Sporting Goods?

Post-acquisition, Moosejaw CEO Eoin Comerford will report to Todd Spaletto, President of Public Lands at DICK'S.