Dick’s Sporting Goods Is Furloughing Most Of Its 40,000 Employees
Apr 9, 2020, 8:12 AM
Dick's Sporting Goods store is shown with an empty parking lot amid the coronavirus pandemic at the Roosevelt Field Mall on March 20, 2020 in East Garden City, New York. (Photo by Al Bello/Getty Images)
(Photo by Al Bello/Getty Images)
(CNN) — Dick’s Sporting Goods is finding it difficult to operate without any sports, gyms or basically any other physical activity.
The sporting goods retailer that it’s furloughing a “significant number” of its roughly 40,000 employees beginning Sunday. Affected employees will still continue to receive their benefits.
Dick’s said in a regulatory filing that because of the coronavirus, it’s “increasingly evident” that its more than 800 stores aren’t going to reopen anytime soon. It will keep on a small number of employees to fulfill online orders and curbside pickups.
“It is our goal that when this crisis subsides, we will welcome back our teammates, open our doors and get back to the business we love of serving athletes and our communities,” the company said.
The closure of gyms, social distancing rules and most state governments telling people to stay at home has zapped demand for what Dick’s sales of athletic goods.
Dick’s Sporting Goods stock is up 5% in Wednesday trading. It has lost half of its value so far this year.
A number of retailers have put their employees on furlough because of the coronavirus pandemic that have forced stores to temporarily close.
