By winning the Golfsmith auction, Jessica DiNapoli of Reuters says Dick's Sporting Goods will become the leading golf retailer based on number of stores (it may already be now).
Pending bankruptcy judge approval, DiNapoli says:
Dick's plans to keep open at least 30 Golfsmith stores and wind down the rest with liquidators from Hilco Global and Tiger Capital Group, the people said. It plans to keep about 500 of the company's employees.
Golfsmith had 109 stores in the United States at the time of its bankruptcy filing last month, and has been closing stores since then.
With the bid, Dick's, the largest U.S. sporting goods retailer, also won Golfsmith's intellectual property and inventory, the people added, asking not to be identified because the results of the auction are not yet public.
Mike Stachura of GolfDigest.com notes Dick's bullish attitude towards golf continues after the retailer gave indications that it saw golf as in "structural decline" and layed off its professional fitters not long after buying into Mark King and Adidas' Taylor Made vision of three new driver releases in one year.
Now, it looks like Dick's Sporting Goods, whose sporting goods store model is megasized but its Golf Galaxy brand model is a more conservative sized store, will be dictating a big part of golf's retail footprint going forward.