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April 8, 2020, 6:24 a.m. EDT

Dick's Sporting Goods to start furloughing employees on April 12

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By Tomi Kilgore

Dick's Sporting Goods Inc. /zigman2/quotes/200566298/composite DKS +3.24% disclosed Wednesday that it will be furloughing a "significant number" of employees who work at its retail stores, distribution centers and its corporate headquarters starting April 12. The sporting goods retailer said the furloughs are a result of uncertainty surrounding the duration of the store closures given the COVID-19 pandemic. Dick's said it will continue to provide benefits to furloughed employees. Other actions previously taken include suspending share repurchases, cutting capital expenditures and reducing salaries of executives, senior leadership and certain other employees. The stock, which is still inactive in premarket trading, has tumbled 51.8% year to date, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.48% has lost 17.7%.

/zigman2/quotes/200566298/composite
US : U.S.: NYSE
$ 36.06
+1.13 +3.24%
Volume: 3.79M
May 29, 2020 4:00p
P/E Ratio
10.78
Dividend Yield
0.00%
Market Cap
$3.14 billion
Rev. per Employee
$186,650
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/zigman2/quotes/210599714/realtime
US : S&P US
3,044.31
+14.58 +0.48%
Volume: 4.38B
May 29, 2020 5:14p
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