Full-line sporting goods retailer
DICK's Sporting Goods Inc.
) remains focused on driving growth through the expansion of its
store base and incorporation of technological advancements to
better serve its clients. In line with its strategic initiatives,
the company recently declared the opening of one store each in
the states of New York and Delaware.
In New York, the new DICK's Sporting store will be located at
Towne Center in Batavia and will mark the company's 37th outlet
in the state. In Delaware, DICK's Sporting's new store will be at
Dover Mall in Dover city and mark the 3rd outlet in the
The celebrations to mark the opening of the store in New York
will commence on Nov 1 and extend over the weekend while at
Delaware the celebrations will begin on Nov 8 and continue
through Nov 10. The store offerings will include over 40 suitable
in-store services provided by DICK's certified PROS in Golf,
Bike, Hunting, Fishing, Team Sports and more. As of Oct 25,
DICK's Sporting was operating over 540 stores in 45 states.
In order to attract customer traffic into its new stores
throughout the celebration period, DICK's Sporting has announced
a range of lucrative giveaways. The company will distribute
Mystery Gift Cards in the range of $5-$500, give out free Tech
T-Shirts manufactured by
Under Armour Inc.
) and free Scratch & Win cards to the first 100 adults in
Apart from the announcement of these two stores, the company
last week announced the opening of one new store each in the
states of New York, North Carolina, Florida, Wyoming, Missouri
and Texas and 2 new stores in Kentucky, plus a relocated store in
We believe that the full-line sporting goods and apparel
retailer will benefit from its in-store action and online growth
strategies. The company's in-store efforts such as the remodeling
of stores, launch of shop-in-shop facilities and recruitment of
additional sales personnel have boosted top-line growth.
Furthermore, the company is aggressively enhancing its
e-Commerce capabilities to increase its sales as well as market
share in online retailing.
At its annual Analyst Day meet held last month, DICK's
Sporting announced its plans to increase the retail store count
to 800 by the end of fiscal 2017 from 518 stores at the end of
fiscal 2012. Further, the company will remodel its existing
stores from time to time in order to keep them up-to-date and
Additionally, the company will stay focused on maintaining
strong relations with its vendors, introducing fashionable
products and concentrating on high growth categories such as
Women and Youth.
Moreover, DICK's Sporting intends to increase its e-Commerce
sales to nearly $1.1 billion by the end of fiscal 2017, from $292
million at the end of fiscal 2012. For this, the company will
directly control its e-Commerce platform beginning with Golf
Galaxy and Field & Stream in 2014, and DICK's Sporting from
Apart from expanding its store base, DICK's Sporting is
concentrating on customer needs in order to boost sales. Further,
to make customers' shopping experience a convenient one, the
company has introduced a new mobile application for iPhones and
Android Smartphones that enables customers to locate DICK's
Sporting stores in any particular area and buy goods directly,
using the application.
We believe that the company's strategic measures of
consolidating its store base and the use of technology to provide
better services will enhance its relationship with present
customers, attract new customers and effectively promote
Other Stocks to Consider
DICK's Sporting currently carries a Zacks Rank #3 (Hold).
However, other stocks in the retail sector that are worth a look
Five Below, Inc.
). Both of these carry a Zacks Rank #2 (Buy).
DICKS SPRTG GDS (DKS): Free Stock Analysis
FIVE BELOW INC (FIVE): Free Stock Analysis
MARINEMAX INC (HZO): Free Stock Analysis
UNDER ARMOUR-A (UA): Free Stock Analysis
To read this article on Zacks.com click here.