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Why Dick’s Sporting Goods Succeeded When Sports Authority Failed

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At $67.2 billion, the sporting goods industry became one of the fastest-growing industries in the U.S. in 2022. Dick’s Sporting Goods controls an estimated 14.2% of that market, the most of any company. In 2021, Dick's posted a record annual revenue of $12.3 billion and tripled its net income as it rapidly pivoted its distribution strategy during the pandemic. Just a few years prior, in 2017, the company had invested heavily in e-commerce which has come to pay off since the pandemic. Dick’s looks to sustain its record growth as it shifts its leadership to a new CEO, a focus on technology and navigating both in-brand and partnerships with giants like Nike and Adidas.

Chapters:
00:00 — Intro
1:15 — Humble beginnings
3:58 — Innovation & evolution
7:44 — E-commerce dominance
10:18 — The future of sporting goods

Producer: Darren Geeter
Senior Managing Producer: Tala Hadavi
Animation: Jason Reginato, Christina Locopo
Additional Sources: Telsey Advisory Group, Euromonitor International, IBISWorld, Reuters, SEC Filings, FactSet, National Sporting Goods Association, Harvard Business School

Correction 2/7: At 1.21 we misspelled Binghampton. The correct is Binghamton.

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Why Dick’s Sporting Goods Succeeded When Sports Authority Failed
Category
Tech
Tags
CNBC, CNBC original, business
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