Dick’s Sporting Goods CEO to step down

Shoppers load purchased merchandise into a truck outside a Dick's Sporting Goods store in Collegeville

(Reuters) – Dick’s Sporting Goods Inc said on Tuesday Chief Executive Officer Edward Stack will step down from the role and the take the mantle of executive chairman from Feb. 1, 2021.

The company said its board had elected Lauren Hobart, the president of DICK’S, as CEO, also effective Feb. 1.

The sporting goods retailer reported a 23% rise in third-quarter revenue to $2.41 billion. Analysts had expected sales of $2.23 billion, according to IBES data from Refinitiv.

(Reporting by Akanksha Rana in Bengaluru; Editing by Aditya Soni)