Dick's Sporting Goods 2010 Annual Report Download - page 5

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PASSION FOR OUR BUSINESS
AND FOCUS ON THE LONG TERM
One of the cornerstones of Dick’s success is quite basic:
We love what we do. We literally have a passion for
sports, and that passion translates into a commitment to
excellence that cuts across every area of our operations,
enabling us to maintain the discipline required to deliver
steady growth and progress, even in some of the toughest
market conditions. Our passion also drives us to maintain
an unwavering focus on long-term performance. With
this in mind, we have identified three main growth
drivers, geared to help us deliver strong performance
in the years ahead as our nation’s economy continues
its path to recovery:
Expand our store network // While the sluggish economy
has limited growth opportunities throughout the industry,
we continue to drive measured expansion. We also
continue to plan ahead, and in 2010, we conducted a
meticulous evaluation of our future growth potential,
taking into account a wide range of factors, including
consumer and industry trends, and regional
demographics. Through this process, we identified
the opportunity to more than double the size of our
store network, opening a cumulative total of at least
900 stores across the nation over the long term. We are
committed to capitalizing on this opportunity, and in 2011,
we expect to open approximately 34 new Dick’s Sporting
Goods locations, accelerating our pace of store growth
to 8 percent.
Grow our e-commerce business // Our e-commerce
business represents only a small percentage of our
consolidated business, and we are taking decisive steps
to leverage its full potential — not simply as an additional
distribution channel, but also as a true extension of
our brick-and-mortar stores. To this end, our priorities
are content, profitability and sales, in that order. We
are working to develop a distinctive, content-rich
e-commerce presence that provides visitors with the
same exceptional quality, authentic atmosphere and
expertise customers receive in our stores, while also
offering them a trusted resource for accurate and
OUR GOAL
is to be the number one sports
and fitness specialty retailer
for all athletes and outdoor
enthusiasts, through the
relentless improvement
of everything we do.
2010 RESULTS
PERFORMANCE
Posted sales of $4.9 billion, an
increase of more than 10 percent
compared with 2009
Drove meaningful improvement in
margins compared with 2009
Strengthened our balance sheet
and fortified our cash position
Increased our non-GAAP earnings
per diluted share by 36 percent to
$1.63 compared with 2009
GROWTH
Added 26 new Dick’s Sporting
Goods stores
Remodeled 12 Dick’s Sporting
Goods stores and relocated an
additional 2 stores
Fueled performance in our
Golf Galaxy franchise, opening
two new stores and closing select
locations
Expanded our e-commerce
functionality, setting the stage
for significant future growth
3