Dick's Sporting Goods 2009 Annual Report Download - page 18

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Dick’s moves ahead with several competitive advantages — a trusted
brand, a strong balance sheet, a proven strategy, excellent vendor
relationships, an experienced management team and skilled
employees. While we recognize that the retail market will continue
to be challenging in the coming year, we believe that Dick’s is
positioned not only to meet the challenges, but also to continue to
grow. In 2009, we demonstrated our ability to achieve this by driving
sales, promoting our brand and expanding our network despite
decreased retail traffic and a difficult economic landscape. At the
same time, we continued to strengthen our balance sheet, reducing
our operating expenses, tightening our inventory management
controls and paying down debt. As a result, we enter 2010 with
strength and cautious optimism.
In the year ahead, we will continue to take measures to build our
Company for the future, focusing, as always, on activities that will
produce meaningful, long-term results for our shareholders. We
will maintain our strong balance sheet through diligent expense and
debt management. We will drive operating margins by building our
private brands and leveraging our relationships with leading vendors.
And, we will continue to tap the attractive market share growth
opportunities inherent in our highly fragmented industry through the
prudent expansion of our store network. We are confident that these
measures will enable Dick’s Sporting Goods to meet the challenges
of 2010 and continue to excel.
MOVING AHEAD 2009
Drew on our third distribution center in
Atlanta, driving additional improvements
in inventory management
Converted the Chick’s Sporting Goods
stores that we acquired in 2007 into Dick’s
Sporting Goods stores, firmly positioning
our brand in Southern California
Laid plans to move into a new Store
Support Center in 2010, which will unite
our store support operations under
one roof, generating efficiencies and
positioning Dick’s for continued growth
2008
Opened a third distribution center in
Atlanta, increasing our total network
service capacity to 670 stores
Enhanced our point-of-sale system
to expedite transactions, create new
efficiencies and gather customer data
for future marketing use
Integrated Golf Galaxy’s headquarters
into our own, creating new synergies
and setting the stage for future growth
2007
Acquired Golf Galaxy, a specialty golf
retail leader, which today operates
91 stores in 31 states
Acquired Chick’s Sporting Goods,
a specialty sporting goods chain,
expanding our network through
the addition of several stores in
Southern California
Announced plans for a third distribution
center in Atlanta
CREATING THE
CAPACITY TO GROW
16 Dick’s Sporting Goods, Inc. | 2009 Annual Report