Golf News - Dicks Sporting Goods reports fall in Q2 sales

One of America’s largest retailer and manufacturer of golf equipment has reported a fall in net income of 5% in the second quarter of 2008, with plans to integrate its Golf Galaxy operations by the close of the year. Dick’s Sporting Goods reported net income of $45.5m compared to $47.9m in Q2, 2007.

The company has increased its net sales by 7%, year-to-date thanks to the opening of new retail premises and the increased revenue associated with the acquisition of Chick’s Sporting Goods. In the same quarter sales at its retail stores fell by nearly 4% with a similar fall reported at its chain of 84 stores that it acquired from Golf Galaxy.

Dick’s is planning to relocate and merge its Golf Galaxy operations with its original headquarters before the close of 2008, with costs expected to be in the region of $11m. In the long term, the merger will produce savings of up to $10million in the following year.

In Q2, 2008 the retailer opened nine new retail shops under its Sporting Goods brand and one addition to the Golf Galaxy portfolio.

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