Ed Stack Retires With A Big Stack

After a 36-year run at the helm of Dick’s Sporting Goods, Ed Stack is stepping down from his role as CEO. Looking Back Dick’s Sporting Goods was founded in 1948 by Ed’s father, Dick Stack. Ed and his two siblings…

Oliver Rogers
Ed Stack Retires With A Big Stack
Sign up for insightful business news.

After a 36-year run at the helm of Dick’s Sporting Goods, Ed Stack is stepping down from his role as CEO.

Looking Back

Dick’s Sporting Goods was founded in 1948 by Ed’s father, Dick Stack.

Ed and his two siblings took over the operation in 1984, then just a two-location sporting goods store in upstate New York. Under Stack’s leadership, the company grew to 850+ stores and nearly $9 billion in revenue.

As competitors including Sports Authority and Modell’s folded under pressure from Amazon, Dick’s made a successful pivot online (with ecommerce now generating more than $1 billion in annual revenue.)

Stance on Guns: In the wake of the Parkland school shooting, Stack (an outspoken hunter and proponent of the second amendment) made the decision to stop selling semi-automation weapons and to halt the sale of weapons to those under 21.

  • The decision was a controversial one in the sporting goods world, with 62 employees quitting in protest.
  • Stack said, “we knew the blowback we would have,” but has replaced hunting gear with higher-margin items such as kayaks, clothing and sneakers.

Mr. Stack, Dick’s largest shareholder, will stay on as chairman and chief merchant. Lauren Hobart, the president of the retailer, will become the company’s first woman CEO on February 1st.

Analysis more
(Photo Credit: Towfiqu Barbhuiya/Unsplash)

Private Practice: A Q&A with Pierre Valade, Founder of Privacy App Jumbo

(Photo Credit: Nate DeWaele/Unsplash)

The Brontosaurus Bubble: Could the bottom fall out of the dinosaur fossil market?

Recent News

Private Practice: A Q&A with Pierre Valade, Founder of Privacy App Jumbo

Subways Sales Climb for First Time in Years as the Company Looks to Expand in Foreign Markets

Florida Tops New York New Jobs Report

Sony Bids Farewell to PlayStation Supply Chain Woes