Dick's Sporting Goods, Inc. - DKS STOCK NEWS

DICK'S Sporting Goods (NYSE: DKS) will present at the BofA Securities Consumer and Retail Conference on March 14, 2023, at 8:50 a.m. Eastern Time in Miami Beach. The presentation will be available via live webcast and archived on the company's Investor Relations website at investors.dicks.com.

Founded in 1948 and headquartered in Pittsburgh, DICK'S is a leading omnichannel retailer with over 850 stores providing sporting goods and outdoor products. The company actively supports youth sports through its foundation, contributing millions to assist under-resourced teams and athletes.

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.

DICK'S Sporting Goods (NYSE: DKS) expands its partnership with SidelineSwap to host 200 trade-in events across 19 states in the first half of 2023. Building on the success of 60 events in 2022, the initiative allows athletes to trade in used sports gear for gift cards, with options to donate a portion to local sports organizations. Participants averaged $88 in value at previous events. The trade-in events aim to support the growing resale market, where U.S. households have $580 billion in unused items, including $20 billion in sports gear. For event details, visit dickssportinggoods.com.

DICK'S Sporting Goods (NYSE: DKS) has announced a significant expansion of its partnership with SidelineSwap, planning 200 trade-in events across 19 states in the first half of 2023. Following the success of 60 trade-in events in 2022, participants can exchange used sports gear for DICK'S e-gift cards, averaging $88 in value per trade-in. These events will also allow donations to local sports organizations. Locations include Pennsylvania, New York, California, and several others. This initiative is part of DICK'S effort to enhance sustainability and promote reuse in the sporting goods market.

DICK'S Sporting Goods has announced the redemption of all outstanding 3.25% Convertible Senior Notes due 2025, amounting to $59.1 million. The redemption will occur on April 18, 2023, with the redemption price equal to 100% of the principal, plus accrued interest. Notably, the conversion rate for the notes has increased to 31.2358 shares per $1,000 principal amount. The company plans to mitigate dilution from conversions through shares obtained from a convertible note hedge. Post-redemption, DICK'S expects a reduction in annual interest expenses by approximately $1.9 million.

DICK'S Sporting Goods, Inc. (NYSE: DKS) will announce its fourth quarter and full year 2022 results on March 7, 2023, before the market opens. A conference call is planned for 10:00 a.m. ET on the same day, which will be accessible live and archived on their website. Founded in 1948 and headquartered in Pittsburgh, DICK'S serves athletes through over 850 stores and various online platforms. The company is noted for its commitment to community support, contributing millions through its Sports Matter program. Further details can be found on their website.

DICK'S Sporting Goods and Brooks Running have launched a collaborative initiative to support young athletes through the Empower Her Collection.

Over the past three years, the partnership has raised funds by donating $1 for socks, $5 for apparel, and $10 for shoes, aiming to distribute up to $500,000 to the DICK'S Sporting Goods Foundation.

Recent grants of $20,000 and $15,000 helped track programs in Oklahoma and Michigan, providing necessary resources for training and competition, thereby cultivating a supportive athletic community.

DICK'S Sporting Goods announced notable philanthropic initiatives in its third-quarter report, revealing $2.7 million in grants supporting local sports organizations and youth athletes. Key partnerships included a collaboration with Brooks Running and a $15,000 grant to the Westinghouse Academy football team, which reached the state championships. The Foundation also pledged $90,000 to improve youth sports opportunities in Pittsburgh. Programs associated with the UNITED partnership demonstrated increased student attendance and physical activity.