As the coronavirus continues, Dick’s Sporting Goods has become the latest retailer to join the furlough fray.
In a Securities and Exchange Commission filing today, the Coraopolis, Pa.-based company said it would furlough a “significant” number of employees, beginning April 12. Workers will continue to receive scheduled benefits while furloughed. Small teams in Dick’s stores, distribution centers and corporate offices will continue to work — with many of them taking pay cuts amidst the crisis.
“As the impact of the virus continues to grow, it is increasingly evident that our stores are not going to reopen to public access any time soon,” Dick’s wrote in a statement. “However, it’s with a heavy heart … that we now must furlough a significant number of our teammates, beginning April 12. Our teammates are the lifeblood of our company — an amazing group of dedicated and passionate people — which makes this an agonizing decision, and one we had hoped we would never have to make.”
As the coronavirus crisis continues, all of the company’s 800-plus stores across the country have been temporarily shut. The retailer is continuing to serve customers through its e-commerce channels and is offering curbside, contactless pickup at Dick’s and Golf Galaxy locations where permitted.
Last month, Dick’s announced that chairman and CEO Edward Stack and president Lauren Hobart would receive no salary — other than an amount covering their benefits — starting March 29. The company also said EVP and CFO Lee Belitsky’s would have her salary reduced by 50%.
As coronavirus-induced closures extend with no certain end date in sight, Dick’s is one of many retailers to announce furloughs, joining other major footwear players such as DSW, Saks Fifth Avenue, Nordstrom and Journeys parent Genesco.
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