The Stack family owns Dick’s Sporting Goods, one of the world’s most successful sporting goods chains, particularly in North America. Since its inception in 1948, when founder Richard “Dick” Stack opened his first bait and tackle shop with a $300 loan from his grandmother, the company has grown substantially.
Dick opened the first store in Binghamton, New York, and his son, Edward, began working for his father at their two upstate New York locations at age 13. The father and son duo had a tumultuous relationship, and Edward planned to attain a law degree, distancing himself from the family business.
Edward was ultimately coerced by his siblings to collectively purchase the company as their father’s health declined. The siblings bought the company in the early 1980s and relocated their headquarters from New York to Pennsylvania in 1994.
As the CEO and chairman, Edward was moved by the tragic shooting in Parkland, Florida and made the executive decision to permanently remove assault rifles from all 850 Dick’s Sporting Goods stores.
Additionally, he decided to adjust their gun sales regulations to exclude clientele under the age of 21. The decision cost the company $250 million in revenue and caused a great deal of controversy with gun rights activists.
In 2014, the company’s foundation committed up to $2 million every year to fund the Sports Matter program for the youth. It also funded youth sports initiatives that have benefitted hundreds of thousands of athletes sinc 2018.
As of 2018, Dick’s remains the largest sporting goods retail company in the United States.
