Edward Stack is the head of Dick's Sporting Goods. It is interesting to note that while other major retailers have stumbled in recent times, his corporation remains in sound though not entirely safe and secure condition. Here are 10 things that you may or may not have known about Edward Stack:
Both CEO and Chairman
Currently, Stack is the CEO as well as the Chairman of the Board for Dick's Sporting Goods. As a result, he is not just the person responsible for overseeing the corporation's revenue-earning operations but also the person responsible for overseeing the people chosen to protect and promote the shareholders' interests.
He Is an Heir
Stack is an heir in the sense that he followed in his father's footsteps as the head of Dick's Sporting Goods. Since his father was the one who founded the corporation, it should come as no surprise to learn that his father's name was Dick Stack.
He Graduated from St. John Fisher College
Education-wise, Stack has a B.A. from St. John Fisher College, which is a school that can be found in Rochester in the state of New York. Speaking of which, St. John Fisher College is named for an English cardinal who was executed by King Henry VIII of England for refusing to acknowledge him as the head of the Church of England, with the result that he is remembered as a saint by the Catholic Church for upholding its position of papal primacy.
Serves on the Board of National Retail Foundation
Besides Dick's Sporting Goods, Stack serves on the Board for the National Retail Foundation as well. Like its name suggests, it is a retail trade association that represents a remarkable range of retailers situated throughout the United States. Furthermore, it is something of an umbrella in the sense that it encompasses other retail trade associations as well.
Served on the Board of KeyCorp
At one point in time, Stack also served on the Board of KeyCorp. Primarily, KeyCorp is known for a subsidiary called KeyBank, which is a regional bank that operates in the state of Ohio as well as most of the other U.S. states. With that said, it is interesting to note that while KeyBank was founded in Albany in New York, it is now headquartered out of Cleveland in Ohio.
Doesn't Believe in Sitting Idle
In recent times, Stack has been heading a significant effort by Dick's Sporting Goods to strengthen its position in its chosen market. This is perhaps unsurprising because while his corporation has not suffered the same as some of its counterparts, a lot of retailers have been hard hit by changing circumstances, meaning that in a real sense, he can't afford to sit idle.
Interested in Both Existing and New Markets
Part of Stack's effort is focused on picking up new customers in existing markets where the collapse of competitors has resulted in numerous potential competitors having been set loose. However, Stack is also interested in establishing new markets, though once more, he plans to do so by opening stores in places where the collapse of the competition has created new possibilities for his own operations.
Expects Changes in the Retail Market to Continue
It is interesting to note that Stack has stated that the changes in the retail market are continuing. As a result, this is something that has influenced his response to those changes. For example, Stack is choosing to be patient when it comes to choosing new locations for new stores because he believes that other retailers will continue to close down stores, meaning that there will be new possibilities opening up.
Has Trimmed the List of Vendors
Recently, Stack oversaw the trimming of Dick's Sporting Goods's list of vendors. This was intended to strengthen the corporation's relationship with the vendors that managed to make it through the trimming, both by increasing focus on those that remain and by providing them with increased retail space for their products.
Expanding Private Label
At the same time, Stack has overseen an expansion in his corporation's private label segment. Part of the expansion comes from expanding existing brands and part of the expansion comes from launching new brands.
Written by Garrett Parker
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