Report: Dicks Sporting Goods Inc. Mulls Going Private

Dicks Sporting Goods Inc. DKS shares jumped Wednesday on a report it's in discussions with several buyout firms about going private. Citing unnamed sources, Reuters said the talks are in preliminary stages and could falter. The Coraopolis, Pa.-based retailer, with a market capitalization of about $6.4 billion, changed hands recently at $53.91, up 9.5 percent. The company, which operates about 520 Dick's stores and about 80 Golf Galaxy stores, has been hurt by a slow-down in golf and hunting equipment sales. Dick's shares hit a low point last summer and are down more than 6 percent during the past 12 months. Same-store sales for Dick's grew 1.7 percent and Golf Galaxy fell nearly 9 percent during the quarter ended Nov. 1. Total sales for the recent period increased 9 percent to $1.5 billion.