Dick's Sporting Goods 2010 Annual Report Download - page 33

David I. Mossé — 37, joined Dick’s Sporting Goods in 2010 as our Senior Vice President — General Counsel and Corporate
Secretary. Previously, Mr. Mossé was Senior Counsel, Chief Compliance Officer and Investment Team Member of Trian
Fund Management, LP, a New York, NY investment advisory firm, since 2005. Prior to that, he served as Vice President and
Assistant General Counsel at Triarc Companies, Inc. (NYSE: WEN), the franchisor of the Wendy’s and Arby’s restaurant systems.
Mr. Mossé also spent several years as an attorney with the law firms Cravath, Swaine & Moore in New York, NY, where he began
his career, and the Venture Law Group in Menlo Park, California.
Peter J. Whitsett — 45, became our Executive Vice President of Global Merchandising and Division President of Golf Galaxy in
December 2010. He joined Dick’s Sporting Goods in March 2010 from Radio Shack Corporation (NYSE: RSH), where he had served
as Executive Vice President and General Merchandise Manager since 2007. Between 1999 and 2007, Mr. Whitsett held several
senior management positions for the Kmart retail business of Sears Holdings Corporation (Nasdaq: SHLD), including Senior Vice
President and Chief Merchant for Kmart.
Kathryn Sutter — 48, became our Senior Vice President — Human Resources in 2007 and was named an executive officer of the
Company in 2008. Previously, Ms. Sutter was Vice President — Leadership and Organizational Development, a position she held
since 2005. Prior to joining Dick’s, Ms. Sutter was employed by Office Depot, Inc. (NYSE: ODP) as Vice President of Development
and Global Learning from May 2002 through October 2004.
Joseph R. Oliver — 51, became our Senior Vice President, Chief Accounting Officer and Controller in November 2009. Prior to
that, Mr. Oliver served as our Vice President and Controller since February 2006 and as our Director of Accounting from May 2000
to February 2006. Prior to joining Dick’s, Mr. Oliver was employed by Dominion Resources, Inc. (NYSE: D) from 1983 to 2000 in
various finance functions, most recently as Director of Accounting.
Lauren Hobart — 42, joined Dick’s Sporting Goods in February 2011 as our Senior Vice President and Chief Marketing Officer.
Prior to that, Ms. Hobart spent 14 years with PepsiCo, Inc. (NYSE: PEP), most recently serving as Chief Marketing Officer for its
Carbonated Soft Drink portfolio in the United States. During her career at PepsiCo, Ms. Hobart held several other significant
marketing roles and also spent several years in strategic planning. Prior to joining PepsiCo, Ms. Hobart worked in commercial
banking for JP Morgan Chase and Wells Fargo Bank.
ITEM 1A. RISK FACTORS
Risks and Uncertainties
The recent economic and financial downturn may cause a decline in consumer spending and may adversely affect the Company’s
business, operations, liquidity, financial results and stock price.
Our operating results are affected by the relative condition of the U.S. economy. Our business and financial performance may be
adversely affected by current and future economic conditions that cause a decline in business and consumer spending, including
a reduction in the availability of credit, increased unemployment levels, higher energy and fuel costs, rising interest rates,
financial market volatility and recession. Additionally, we may experience difficulties in operating and growing our operations to
react to economic pressures in the U.S.
As a business that depends on consumer discretionary spending, the Company may be adversely affected if our customers reduce
their purchases due to continued job losses, foreclosures, bankruptcies, higher consumer debt and interest rates, reduced access
to credit, falling home prices and lower consumer confidence. Decreases in same store sales, customer traffic or average value
per transaction negatively affect the Company’s financial performance, and a prolonged period of depressed consumer spending
could have a material adverse effect on our business. Promotional activities and decreased demand for consumer products,
particularly higher-end products, could affect profitability and margins. The potential effects of the recent economic and financial
crisis are difficult to forecast and mitigate. As a consequence, our sales, operating and financial results for a particular period are
difficult to predict, and, therefore, it is difficult to forecast results to be expected in future periods. Any of the foregoing could have
a material adverse effect on our business, results of operations, and financial condition and could adversely affect our stock price.
Additionally, many of the effects and consequences of the recent U.S. and global financial and economic crises are currently
unknown or unpredictable and could potentially have a material adverse effect on the Company’s liquidity and capital resources,
including our ability to raise additional capital if needed and the ability of banks to honor draws on our credit facility, or could
otherwise negatively affect the Company’s business and financial results. Although we generally generate funds from our
operations and our existing credit facility to pay our operating expenses and fund our capital expenditures, our ability to continue
to meet these cash requirements over the long-term may require access to additional sources of funds, including equity and debt
capital markets, and continuing market volatility, the impact of government intervention in financial markets and general
economic conditions may adversely affect the ability of the Company to access capital markets.
Dick’s Sporting Goods, Inc. ¬2010 Annual Report 13