My Take On Dicks Sporting Goods
Just here to talk about one retailer that I managed to watch last night on the CNBC YouTube channel and managed to see what they were about because I thought that it would be nice to see how one retailer that despite economic conditions in the USA managed to find ways in succeeding and to keep on going despite the slowdown of the economy and the pandemic. They have found ways to change and to be different from all the other retail businesses.
The retailer that I am talking about is Dick's Sporting Goods, which has stores all across the USA and they sell a whole lot of sporting equipment and athletic clothing like Nike, Under Armour, Puma, Adidas and other brand named clothing. As for equipment they have it all for all of the sports that I can think of and that are are played by people globally. It reminds me of Sports Chek here in Canada but they are only in the USA.
Anyway, I watched the whole video and the reporters talked about how they were able to thrive against their competitors like Sports Authority, which is another retailer that sold equipment just like them and they somehow went out of business after restructuring its debt and going through a lot of owners. Or if I miss my guess they got bought by Dick's Sporting Goods. So, they must have done something right.
I will just go into what they did right before ending this post or article. I think that Dick's Sporting Goods were able to succeed by looking for ways to not just innovate but to change effectively with the times by changing the looks of their stores both in and out and that has to be taken into consideration when they want to attract new customers while keeping their old ones. Hopefully they can keep this trend up so they can stay in business for the next few years.
Then pass the business down to the next generation so they can run it and attract the next generation of customers but this feat will easier said than done because I don't think that it is a family run business anymore since they have franchised most of their stores and hired stock owners and investors. So it is going to be a real challenge for them. But for now I guess that they can enjoy the success they have with their stores.