Full-line sporting goods retailer
DICK'S Sporting Goods Inc.
) remains focused on driving growth through 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 new store each
in the states of New Mexico, Washington, Arizona and
In New Mexico, the new DICK'S Sporting store will be located
at the Coronado Mall in Albuquerque and will be the company's 3
outlet in the state. In Washington, DICK'S Sporting new store
will be at Grandridge Plaza in Issaquah and mark the 4
outlet in the state. The company opened its 7
store in Arizona, which is located at Prescott Valley Crossroads
in Prescott. Moreover, the newly opened DICK'S Sporting store at
Prien Lake Mall in Lake Charles is the company's 6
store in Louisiana.
Including all these new outlets, DICK'S Sporting store count
is now 538. The celebrations to mark the opening of these stores
will commence on Oct 11 and extend over the weekend. 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.
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 to the first 100
adults in line on Friday and Saturday. Moreover, on Saturday, it
plans to give free Under Armour Tech T-Shirts manufactured by
Under Armour Inc.
) to the first 100 adults in line. On Sunday, it will distribute
free Scratch & Win cards to the first 100 adults in line.
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-shops facilities and recruitment of
more 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
In its recent annual Analyst Day meet, DICK'S Sporting
announced its plans to increase 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 productive.
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
control its e-Commerce platform beginning with Golf Galaxy and
Field & Stream in 2014, and DICK'S Sporting from fiscal
Apart from expanding its store base, DICK'S Sporting is
concentrating on customer needs in order to boost sales. Further,
to make the shopping experience a convenient one, the company has
introduced a new mobile application for iPhones and Android
Smartphones that enable customers to locate DICK'S Sporting
stores in any particular area and buy goods directly, using the
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 #4 (Sell).
Other stocks in the retail sector that are worth a look include
Five Below, Inc.
). Both of these carry a Zacks Rank #2 (Buy).
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