We need to look no further than TaylorMade's marketing approach.
It worked for a few years. Increase product, increase product cycles, overwhelm competitors with saturating the market with more available in-store inventory. If you go back in the finances, you can see where the tide started turning against them. In 2009, shortly after the initial onslaught of the impacts of the global recession, they maintained course.
What they essentially did was no different than a fishing boat captain out in the Atlantic, who was being told well ahead of time - turn back - there's a major storm heading right for you - yet he ignored the warning.
The vital signs of the golf industry are essentially foretold in the number of rounds played per year, and the number of golf courses that are being built versus closed each year. Those numbers haven't been good for several years now, it's safe to say that despite people like us - fewer people are playing or buying equipment, more courses have closed than new ones opened.
Dick's might have a great reason behind purchasing Golfsmith, providing the rumors are true... but ultimately the short-term gains will be killed by long-term results. The data isn't predicting a looming storm any longer... the data is displaying an actual storm that has already reached landfall and everyone missed the opportunity to get out ahead of time. So you either ride it out and eat your losses or go down with the rising tide.
You don't build a bigger boat. That "ship" sailed a long time ago.