Dick's Sporting Goods announces hundreds of layoffs ahead of earnings
By Dow Jones Newswires
Retailer Dick's Sporting Goods (DKS) has cut hundreds of corporate jobs ahead of its quarterly earnings release Tuesday.
The layoffs comprise less than 1% of the overall workforce, a person close to the company said Monday.
Dick's Sporting Goods plans to "reinvest in critical growth drivers," said this person, including jobs elsewhere at the company. It is likely to discuss investment plans and the state of consumer demand during a conference call Tuesday morning.
The retailer has reported strong sales since the start of the pandemic as shoppers stock up on outdoor gear, work-out equipment and other sporting gear.
It employed around 18,800 full-time workers and 34,000 part-time workers as of January, according to financial filings.
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08-21-23 2051ET
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