DICK’S Sporting Goods Supports Supplier Diversity by Offering Early Payments
Jul 28th, 2022 9:07 EST
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.
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:[email protected]
SOURCE DICK'S Sporting Goods, Inc.