Dick’s Sporting Goods is 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 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 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 has forced stores to temporarily close.