Dick's Sporting Goods, Inc. (NYSE: DKS) is an authentic full-line sporting goods retailer offering a broad assortment of brand name sporting goods equipment, apparel, and footwear in a specialty store environment. Headquartered in Findlay Township near Pittsburgh, Pennsylvania, Dick's has 409 stores in 40 states as of August 1 2009, primarily in the eastern half of the United States. The Company also owns Golf Galaxy, Inc., a multi-channel golf specialty retailer, with 91 stores in 31 states.
At the age of 18, Richard Stack had worked at an Army/Navy store in his hometown of Binghamton, New York, after World War II. Military surplus stores were common start-ups in those days. "Dick" had the idea of expanding the product line to include more than just military surplus, but to also sell fishing and camping supplies- for which there was also developing a big demand. He presented his idea to his boss, the owner, but the idea was denigrated by him. He related his disappointment to his family later that night. After hearing his story, his grandmother decided to give him her savings of $300 and instructed him to "follow his dreams" with it. He rented a store-front and opened up the first Dick's as a small "bait & tackle" fishing supply store, on Court Street near Howard Avenue. His store was also called by the then-popular "Army/Navy".
The idea for Staples was created in 1985, while founder Thomas G. Stemberg was working on a proposal for a different business. He needed a ribbon for his printer, but was unable to obtain one because his local dealer was closed for the Independence Day holiday. A frustration with the reliance on small stores for critical supplies combined with Stemberg's background in the grocery business led to a vision for an office supply superstore. The first store was opened in Brighton, Massachusetts in 1986. The 500th store was opened in Vero Beach, Florida, in 1996.
On September 4, 1996, Staples and Office Depot announced plans to merge. The Federal Trade Commission decided that the superpower would unfairly increase office supply prices despite competition from OfficeMax, because OfficeMax did not have stores in many of the local markets that the merger would affect. Staples ultimately argued that chains such as Wal-Mart and Circuit City represented significant competition, but this argument did little to sway the FTC. Following the denial of the merger by the FTC, a rivalry has formed between the two companies.
Office Depot (NYSE: ODP) is a supplier of office products and services. The company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, printing, document reproduction, mailing and shipping. An S&P 500 company, Office Depot generates revenues of over US $14 billion annually and has 42,000 employees worldwide. It is headquartered in Boca Raton, Florida.
Office Depot was founded in Lauderdale Lakes, Florida (near Fort Lauderdale) in 1986 by three partners: Pat Sher, Stephen Dougherty, and Jack Kopkin. Sher, the company's first CEO, died the next year from leukemia. Sher's estate donated the proceed of his life insurance policy to help the fledgling company meet its payroll. The company retained professional executive recruiters (so-called "headhunters") to find a replacement for Sher. David Fuente, formerly an executive with Sherwin-Williams, was selected as the new chairman and CEO.
Fuente immediately launched an aggressive nationwide expansion program. To finance it, he arranged for an initial public offering of stock in 1988. In 1991, Office Depot expanded to the West Coast region with the purchase of competitor Office Club. By 1993, it was operating over 350 stores in the U.S. and Canada. This acquisition moved Office Depot onto the national stage. Mark Begelman, founder and president of Office Club, joined Office Depot as president and chief operating officer.
Office Club stores were slated to continue operations under the Office Club brand and operate as a subsidiary of Office Depot. This was because Office Club operated under a "Membership format" (similar to what is currently employed by Costco and Sam's Club) and the company was at first reluctant to part with that. Within a year of the merger, Office Club stores dropped the membership format and became fully assimilated with Office Depot.
Best Buy Co., Inc. (NYSE: BBY) is a specialty retailer of consumer electronics in the United States accounting for 19% of the market. It also operates in Canada, Mexico, and China. The company's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and, in Canada operates under both the Best Buy and Future Shop label. Together these operate more than 1,150 stores in the United States, Puerto Rico, Canada, China, Mexico and Turkey. The company's corporate headquarters are located in Richfield, Minnesota, USA. On June 26, 2007, Best Buy announced a 40% increase in its operations, with plans to operate more than 1,800 stores worldwide, including 1,400 Best Buy stores in the U.S.
With the recent 50% acquisition of UK-based mobile phone operation The Carphone Warehouse's retail division, Best Buy announced that it would open branded superstores in the UK and other European countries. Best Buy will first open stores in the UK, with plans for up to 200 stores eventually, although the initiative has been delayed until Spring 2010 by the state of the retail market. It is also considering purchasing UK rivals Kesa Electricals (owner of Comet), DSG International (owner of Currys), or both. It is unknown whether these stores will rebrand if acquired by Best Buy. The first two Best Buy stores in the UK will open at The Junction retail park near Lakeside Shopping Centre in Thurrock Essex, and near Southampton at Prupim’s Hedge End Retail Park. A 10 year lease has been signed for the Lakeside store with 50,000 square foot of retail space, while the Southampton store will cover 35,000 square foot. In total 20 locations are planned for 2009 which will all be big box format, however the company is looking for a flagship store in Central London in a prominent area such as Piccadilly Circus, Oxford Street or Regent Street.