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

DICK'S Sporting Goods (NYSE: DKS) has launched DSG Ventures, a $50 million in-house investment fund aimed at supporting innovative companies that enhance community engagement through sports. The fund will focus on initiatives that serve athletes and improve customer experience. Initial investments include brands such as Moolah Kicks and SidelineSwap. The initiative aims to leverage DICK'S expertise and reach to foster growth among its partners.

DICK'S Sporting Goods (NYSE: DKS) is set to announce its third-quarter results for fiscal 2022 on November 22, before market opening. Investors can listen to the results discussion during a conference call at 10:00 a.m. Eastern Time on the same day, available via their Investor Relations website. The company, founded in 1948 and based in Pittsburgh, operates over 850 retail locations and focuses on serving athletes and outdoor enthusiasts. More information on their financial performance will be shared in the upcoming call.

Peloton Interactive (NASDAQ: PTON) has partnered with DICK'S Sporting Goods (NYSE: DKS) to sell Peloton's hardware products, including the Bike, Bike+, Tread, and Guide, in over 100 DICK'S retail locations and via its eCommerce platform. This collaboration aims to enhance Peloton's market reach and member growth, expanding its U.S. presence. DICK'S will be the exclusive retailer for these products outside Peloton's own sales channels. The initiative is set to launch during the holiday season, providing customers with a chance to test and purchase Peloton equipment in-store and online.

DICK'S Sporting Goods (NYSE: DKS) plans to hire up to 9,000 seasonal associates for the 2022 holiday season, launching recruitment on September 28 during its fifth-annual National Signing Day. This initiative includes positions across various store formats and aims to enhance customer service. All locations will be closed on Thanksgiving Day, November 24, allowing employees to spend time with family. Associates can expect competitive pay, optional DailyPay, and discounts of up to 25%. Interested applicants can apply online and participate in interviews on National Signing Day.

DICK'S Sporting Goods (NYSE: DKS) announced participation in the Goldman Sachs 29th Annual Global Retailing Conference set for September 7, 2022, at 8:50 a.m. ET in New York. The event will be available via live webcast and archived replay on the company's Investor Relations website. Founded in 1948 and based in Pittsburgh, DICK'S operates over 850 stores and various brands, advocating for youth sports and community initiatives through its foundation. For more details, visit investors.dicks.com.

DICK'S Sporting Goods is expanding its partnership with SidelineSwap, the largest online marketplace for sporting goods, to introduce 50 new trade-in events across seven states until the end of 2022. Athletes can exchange used sports gear for DICK'S e-gift cards, with an average value of $78 per participant. The initiative aims to promote a circular economy, allowing participants to recycle or donate items. Following the success of earlier events, DICK'S plans to increase the frequency of SidelineSwap events in 2023 as consumer demand for recommerce grows.

DICK'S Sporting Goods reported a decline in comparable store sales of 5.1% for Q2 2022, with net sales at $3.1 billion, a 38% increase from Q2 2019. Earnings per diluted share fell to $3.25, down 28.3%. However, the company raised its full-year earnings guidance to a range of $8.85 to $10.55. This reflects confidence in their strategies and a healthy inventory ahead of the back-to-school season. Debt levels soared to $1.85 billion, a 326.9% increase year-over-year, while cash reserves fell by 15.3%. DICK'S remains optimistic despite market uncertainties.

DICK'S Sporting Goods has been named the title sponsor of Perfect Game's All-American Classic, an amateur baseball game set for August 28, 2022, at Chase Field, Phoenix, AZ. This multiyear agreement extends a partnership initiated in 2019, involving brand integration across various event platforms. The game will showcase 61 top high school-aged players and will be broadcast live on ESPNU. Admission is free, and proceeds will benefit local charities, including the Make-A-Wish Foundation. Perfect Game has a strong track record, with 250 past participants advancing to Major League Baseball.

DICK'S Sporting Goods has announced a multi-year partnership with the Chicago Sky, making them the Official Sporting Goods Retailer and Marketing Partner. This collaboration aims to enhance women's sports engagement and youth athlete development in the Chicago community. DICK'S will support local initiatives including basketball clinics and community events, while continuing to back the Sky's charitable efforts through ticket programs. Since becoming a WNBA partner in 2021, DICK'S has prioritized expanding its investment in women's basketball and promoting inclusivity.