Remember the growth in golf-related stores, such asGolfsmith and Golf Galaxy?
Maybe that expansion was a bit optimistic, given Dick'sSporting Goods' second quarter conference call. Thecompany posted terrific numbers, with comp-store sales increasing3.2 percent, above its guidance. But the growth came from thesporting goods side, which increased 4.1 percent, offsetting a 9.3percent decrease at Golf Galaxy. If you excludehunting, too, sales rose 7.8 percent.
“Golf continues to be our most challenging business,” saidexecutive chairman and CEO Edward Stack. “Golffrom a participation standpoint is in a structural decline and wedon't see that changing. We'll continue to see golf as a smallerand smaller percent of our business.”
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