23 Jul '14, 5pm

Dick's Sporting Goods lays off more than 500 of its in-store PGA pros:

Dick's Sporting Goods lays off more than 500 of its in-store PGA pros:

National retailer Dick's Sporting Goods laid off more than 500 of its in-store PGA professionals on Tuesday, according to a report from ESPN.com. The report detailed Dick's struggles to sell golf equipment during the past year. "We are selling drivers in our stores this spring for $99 that were approximately $299 20 months ago," Dick's CEO Ed Stack said after announcing earnings on May 20. Stack said at the time that the company's overall golf business missed its first-quarter sales plan by $34 million and that he expected a downward trend for the rest of the year. The golf side accounts for 15 percent of the overall revenues of Dick's on average. Dick's said it sold only 2 percent fewer drivers in the first quarter this year compared to the first quarter of 2013 but that the average price of those drivers was down 16 percent. In a letter obtained by ESPN.com , PGA of Amer...

Full article: http://www.golf.com/tour-and-news/dicks-sporting-goods-la...

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