The DICK'S Sporting Goods Foundation Quarterly Giving Series: Q3 2024

Rhea-AI Summary

The DICK'S Sporting Goods Foundation has released its Q3 2024 quarterly giving report, highlighting several charitable initiatives. The foundation returned to MLK High School with new support for its football program, provided a $100,000 grant to Kesem to support children affected by parental cancer, and granted $500,000 to DonorsChoose for school sports activities. The DSG brand has contributed over $3 million to the Sports Matter Program through its 1% sales giveback initiative. Additionally, Gatorade donated 5% of its DICK'S Sporting Goods product sales to the Sports Matter Program during Q3.

Positive

• DSG brand has contributed over $3 million to Sports Matter Program year-to-date
• Secured partnership with Gatorade for 5% product sales donation

Negative

• None.

Insights

Market Research Analyst

The charitable activities, while commendable from a corporate social responsibility perspective, have minimal direct impact on DKS's financial performance or stock value. The $600,000 in total donations ($100,000 to Kesem and $500,000 to DonorsChoose) represent a negligible portion of DKS's 15.8B market cap. However, the DSG brand's 1% sales contribution program, which has generated $3M year-to-date, indicates healthy sales performance for this private label. The continued investment in community relations and brand building through sports programs may provide long-term benefits for customer loyalty and brand perception, but the immediate financial impact is minimal.

11/21/2024 - 11:50 AM

NORTHAMPTON, MA / ACCESSWIRE / November 21, 2024 / DICK'S Sporting Goods

Written by Hilary Totin DICK'S Foundation Sports Matter Quarterly Giving Series

Originally published on DICK'S Sporting Goods Sideline Report

TOGETHER, WE CHANGE LIVES

Today we're bringing you the latest quarterly giving series from The DICK'S Sporting Goods Foundation to highlight the great work being done in support of our mission to help inspire and enable youth sports participation.

In our third quarter of 2024, we:

• Returned to MLK High School ten years later to renew our commitment to its football program in a big way!

• Announced a $100,000 donation made in July 2024 to support children impacted by a parent's cancer diagnosis.

• Granted $500,000 to motivate students to get active and play this school year.

Read on to learn more.

Where Are They Now: MLK High School Football

They spent decades as rivals on the football field. Then a budget crisis in the Philadelphia School District forced Germantown and Martin Luther King High Schools to merge and the former opponents to play as teammates.

The DICK'S Sporting Goods Foundation was there as the team overcame obstacles on and off the football field and defied the odds by winning the Philadelphia Public League Class AAA Championship!

Ten years later, The Foundation returned to MLK High School to catch up with the coaches Malik Jones and Ed Dunn, who are still using the power of sport to change lives, and to deliver some big surprises! Watch our trip back here.

Making a Difference with DSG

No one fights alone. The DICK'S Foundation's Sports Matter Program donated a $100,000 grant to Kesem, a national nonprofit organization supporting kids impacted by a parent's cancer through free summer camps, day programs and virtual meetups. The grant was funded by DSG's giveback program.

DSG, a DICK'S Sporting Goods' vertical brand, contributes 1% of all sales directly to The Foundation's Sports Matter Program. Year-to-date, DSG has given over $3 million to Sports Matter.

Powerful Partnerships

The DICK'S Foundation is proud to continue our powerful partnerships with two great organizations.

In support of a new classroom match campaign to kick off the new school year, our Sports Matter Program provided DonorsChoose with a $500,000 grant to be applied towards school sports teams, gym classes and school sponsored activities that motivate students to get active and play!

During Q3, Gatorade donated 5% of product sales at DICK'S Sporting Goods to our Sports Matter Program. This donation was made via Gatorade's Equity in Sports Initiative which, like The DICK'S Sporting Goods Foundation, believes every kid deserves the chance to play.

Supplies to Succeed

Thanks to our corporate teammates for donating school supplies to the UNITED Community Center at Twin Rivers Elementary School in McKeesport, PA. The UNITED Community Center used the supplies to host a school supply giveaway to ensure all McKeesport Area School District students were prepared for the new school year.

Read about The DICK'S Foundation's partnership with MASD here.

THESE MOMENTS ARE MADE POSSIBLE BY CONTRIBUTIONS TO THE SPORTS MATTER FUND. IF YOU'D LIKE TO DONATE, VISIT WWW.SPORTSMATTER.ORG.

View additional multimedia and more ESG storytelling from DICK'S Sporting Goods on 3blmedia.com.

Contact Info:
Spokesperson: DICK'S Sporting Goods
Website: https://www.3blmedia.com/profiles/dicks-sporting-goods
Email: info@3blmedia.com

SOURCE: DICK'S Sporting Goods

View the original press release on accesswire.com

FAQ

How much did DICK'S Sporting Goods (DKS) donate to Kesem in Q3 2024?

DICK'S Sporting Goods Foundation donated $100,000 to Kesem, supporting children impacted by a parent's cancer diagnosis through various programs.

What is the value of DKS's grant to DonorsChoose in Q3 2024?

DICK'S Sporting Goods Foundation provided a $500,000 grant to DonorsChoose for school sports teams, gym classes, and activities that encourage student participation.

How much has DSG contributed to DICK'S (DKS) Sports Matter Program in 2024?

DSG has contributed over $3 million to the Sports Matter Program year-to-date through its 1% sales giveback program.