Full-line sporting goods retailer,
Dick's Sporting Goods Inc.
), continues to progress on its store expansion strategy with the
announcement of plans to open a new store at Parkway Shops in
Jacksonville, Fla. The store's opening ceremony will take place
today evening, and will commence its operation from Mar 27.
BIG 5 SPORTING (BGFV): Free Stock Analysis
DICKS SPRTG GDS (DKS): Free Stock Analysis
FOOT LOCKER INC (FL): Free Stock Analysis
WAL-MART STORES (WMT): Free Stock Analysis
To read this article on Zacks.com click here.
Located at the Parkway Shops at 14964 Max Leggett Parkway, Suite
300, this store will be Dick's Sporting's 21st store in Fla. and
520th store across the country. This latest store's offerings
will include over 40 convenient in-store services carried out by
DICK'S certified PROS in Golf, Bike, Hunting, Fishing, Team
Sports and more.
During the fourth quarter of fiscal 2012, Dick's Sporting opened
7 namesake outlets, while relocated 1 store. Additionally, the
company moved 1 Golf Galaxy store to a new location. This brought
the company's total Dick's Sporting Goods stores to 518, spread
across 44 states and Golf Galaxy stores to 81, in 30 states, at
the end of fiscal 2012.
For fiscal 2013, Dick's Sporting targets to open 40 new namesake
stores and relocate 1 of them. Additionally, the company expects
to complete the remodeling of 4 Dick's Sporting Goods stores,
while 75 stores are expected to be partially remodeled. Moreover,
the company plans to open 1 new Golf Galaxy store and relocate 1
Golf Galaxy store in fiscal 2013.
In the long-term, the company aims at opening additional 400
stores, targeting a total store count of about 900 in the United
We believe Dick's Sporting continues to progress well with its
growth initiatives, which include expanding its store base and
bringing in technological advancements to better serve its
patrons. The company leverages an extensive network of stores to
effectively penetrate into its target markets, which in turn,
enables the company to generate healthy sales and gain a
competitive advantage over its rivals, including
Foot Locker Inc.
Big 5 Sporting Goods Corp.
Wal-Mart Stores Inc.
Apart from expanding its store base, Dick's is also focusing on
buyers' needs to generate growth opportunities that will augment
sales. The company aims to provide topnotch shopping experience
to its customers and has introduced a new mobile application for
iPhones and Android Smartphones that enables the consumers to
locate the company's stores in any particular area and buy goods
straight away using the application.
We believe that the company's strategic measures of solidifying
its store base and using technology to provide better customer
services will enhance its relationship with clients and will help
attract and retain customers as well as promote its offerings.
Currently, Dick's Sporting has a Zacks Rank #3 (Hold).