PITTSBURGH, July 28,
2022 /PRNewswire/ -- DICK'S Sporting Goods today
announced it's partnering with C2FO, the world's largest platform
for working capital, to support the long-term success of
diverse-owned and operated businesses by providing easy,
transparent, affordable access to capital through early payments on
approved invoices.
"One of the challenges that diverse-owned and operated
businesses face is access to working capital," said Ramon Catania, Director, Supplier Initiatives at
DICK'S Sporting Goods. "With C2FO, suppliers who work with us will
have access to cash sooner to fund their day-to-day operations or
expand their businesses. This can help unlock resources suppliers
need to get products and services to our customers faster."
The C2FO platform allows suppliers to accelerate payment on
invoices of their choosing in exchange for a minimal discount.
DICK'S will self-fund these early payments.
The partnership between DICK'S and C2FO is founded on each
organization's mutual commitment to serving diverse-owned
businesses. A diverse-owned business is a business that is majority
(at least 51%) owned, operated, managed, and/or controlled by a
diverse person or persons. 'Diverse' is defined as women, LGBTQ+,
veterans, persons with disabilities and/or Black, Indigenous and
People of Color.
DICK'S has committed to spending $300
million annually by 2025 with diverse-owned and operated
businesses. To learn more about DICK'S Supplier Diversity Program,
visit https://www.dickssportinggoods.com/s/supplier-diversity.
C2FO's mission is to ensure every business has the capital
needed to thrive. In 2021, diverse- owned businesses utilized the
C2FO platform to secure funding 3.2 times more than other
businesses. So far in 2022, C2FO has accelerated more than
$2 billion in early payments to
diverse-owned businesses worldwide.
About DICK'S Sporting Goods, Inc.
DICK'S Sporting Goods (NYSE: DKS) creates confidence and
excitement by personally equipping all athletes to achieve their
dreams. Founded in 1948 and headquartered in Pittsburgh, the leading omnichannel retailer
serves athletes and outdoor enthusiasts in more than 850 DICK'S
Sporting Goods, Golf Galaxy, Field & Stream, Public Lands,
Going Going Gone! and Warehouse Sale stores, online, and through
the DICK'S mobile app. DICK'S also owns and operates DICK'S House
of Sport and Golf Galaxy Performance Center, as well as
GameChanger, a youth sports mobile app for scheduling,
communications, live scorekeeping and video streaming.
Driven by its belief that sports make people better, DICK'S has
been a longtime champion for youth sports and, together with its
Foundation, has donated millions of dollars to support
under-resourced teams and athletes through the Sports Matter
program and other community-based initiatives. Additional
information about DICK'S business, corporate giving, sustainability
efforts and employment opportunities can be found on dicks.com,
investors.dicks.com, sportsmatter.org, dickssportinggoods.jobs and
on Facebook, Twitter and Instagram.
About C2FO
C2FO is the world's largest platform for working
capital. We serve over 1 million businesses representing
$10.5 trillion in annual sales across
more than 160 countries. Our online platform connects more than
$110 billion of daily accounts
payable and accounts receivable. Whether you need working capital
or have excess working capital, Name Your Rate®, and the C2FO
platform will match your request in seconds. You can accelerate AP
or AR on demand, providing you, your customers and your suppliers
greater control over cash flow. You can also utilize AR financing
and other data-driven funding options.
C2FO is working capital, working for everyone. Our
mission is to deliver a future where every company in the world has
the capital needed to thrive. To learn more, visit C2FO.com.
Media Contact:
press@dcsg.com
View original content to download
multimedia:https://www.prnewswire.com/news-releases/dicks-sporting-goods-supports-supplier-diversity-by-offering-early-payments-301595196.html
SOURCE DICK'S Sporting Goods, Inc.