Dick’s Sporting Goods extends 15% coronavirus pay raise through end of 2020
Stores will also close Thanksgiving Day
Dick’s Sporting Goods has decided to remove the hunting departments from its stores. FOX Business’ Ashley Webster with more.
Dick's Sporting Goods announced Thursday that it will extend its 15 percent employee coronavirus pay raise through the end of 2020 and close all store locations on Thanksgiving Day.
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The chain shuttered its locations in March as the coronavirus pandemic swept the nation, causing its sales to take a massive hit in the first quarter of 2020; it reopened 80 percent of its stores by May 30.
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"We are so thankful to our teammates for their hard work and dedication," Dick's Chairman and CEO Ed Stack said in a statement Thursday. "They have navigated this year with strength, commitment and care for each other and for our customers. We will continue to do all we can to support them and show our gratitude."
A closed Dick's Sporting Goods on Thursday, April 9, 2020, at a mall in Tacoma, Wash. (AP Photo/Ted S. Warren)
Previously, store hours were limited on Thanksgiving.
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The sports retailer lost $143.4 million, or $1.71 a share, in the first quarter of 2020, and its revenue dropped 31 percent year-over-year to $1.33 billion. E-commerce sales, however, skyrocketed by more than 250 percent in the first quarter as the pandemic kept people home and away from the gym and other outdoor group activities.
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Dick's announced in an April regulatory filing that a "significant number" of its approximately 40,000 employees would be furloughed as a result of the pandemic.
Some of the country's biggest retailers, including Walmart, Target, Kohl's and Best Buy, have already given employees Thanksgiving Day off as a thank-you for working during the pandemic.