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            Dick's Sporting Goods furloughs 40,000 employees until further notice

            Retail giant says it won't reopen anytime soon

            Photo of Rick Karlin
            Rick Karlin
            Two Dick's Sporting Goods employees carry a kayak out to a customer waiting in his truck by the curb on Sunday, April 5, 体彩app官方网站, in Albany, N.Y. The store has a program where a customer can shop online and then arrange to pick up the item curbside at a local store. Customers stay in their vehicle and the employees place the items in the truck of a car or the bed of a pickup.
            Two Dick's Sporting Goods employees carry a kayak out to a customer waiting in his truck by the curb on Sunday, April 5, 体彩app官方网站, in Albany, N.Y. The store has a program where a customer can shop online and then arrange to pick up the item curbside at a local store. Customers stay in their vehicle and the employees place the items in the truck of a car or the bed of a pickup.

            GUILDERLAND — Citing the coronavirus shutdown and loss of the crucial spring 体彩app官方网站 sports season, retail giant Dick’s Sporting Goods is furloughing almost all of its employees starting Sunday.

            The chain, with stores in Guilderland, Latham, Saratoga Springs and Pittsfield, Mass., has been shut down for the past three weeks.

            体彩app官方网站 officials have concluded they don’t know when the pandemic-related shutdown will end so they had to reduce expenses.

            Employees will collect pay through April 11 and benefits such as health insurance will be kept in place.

            “It is increasingly evident that our stores are not going to re-open to public access anytime soon,” the company said in an April 7 Securities and Exchange Commission disclosure.

            Purchases can still be made on-line and there will also be “contactless” curbside pickup where allowed.

            The company, which is publicly traded, is the nation’s largest sporting goods retailer with more than 800 stores nationwide, including 42 in New York.

            Also affected are some 300 workers in a two-year-old warehouse in Kirkwood, near Binghamton.

            The company started as a bait-and-tackle shop in Binghamton in the 1940s. They moved their headquarters to Pittsburgh, Pa., in 1994, saying they needed to be near a larger executive talent pool.

            According to their filing, the company has already cut pay for its top executives.

            Traded as DKS on the New York Stock Exchange, the stock was priced at $27.50 on Thursday, down from a 52-week high of $49.80 but up from a low of $13.46.

            rkarlin@体彩app官方网站 518 454 5758 @体彩app官方网站RickKarlinTU