The store expansion plans of the full-line sporting goods
DICK's Sporting Goods Inc.
), is gaining pace as evident from the company's announcement of
3 new stores located in Florida, Alabama and Oklahoma. The
celebrations to mark the opening of these stores will commence on
Apr 25 and extend over the weekend.
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In Florida, the new DICK's Sporting store will be located at
Westshore Plaza in Tampa, marking the opening of the company's
27th store in the state. The newest store in Alabama will come up
at the Colonial Promenade Alabaster, a lifestyle center located
at 200 S. Colonial Drive. This store will mark the company's 11th
outlet in the state of Alabama. The company's third store
announcement in Oklahoma will be positioned at the Lawton Town
Center in Lawton and will mark the company's 8th store in the
Including these new outlets, DICK's Sporting's store count has
now increased to 566. As of Feb 1, 2014, DICK's Sporting operated
more than 550 stores in 46 states, 79 Golf Galaxy stores in 29
states and e-Commerce websites and catalog operations.
Offerings at these new outlets will include over 40 suitable
in-store services provided by DICK's certified PROS in sports and
outlook specialties including Golf, Bike, Fishing and Team
In order to attract customer traffic to its new stores during the
celebration period, DICK's Sporting announced a range of
lucrative giveaways. The company will distribute free Tech
T-Shirts manufactured by
Under Armour Inc.
) to the first 100 people in queue on the opening day and free
Mystery Gift Card of value between $5 and $500 for the first 100
people queuing on Saturday and Sunday. Also, the customers who
reach early will get an opportunity to open the DICK's Sporting
Goods Gift Locker.
Additionally, to entice visitors, the company has invited local
celebrities to make special appearances at the new store on the
DICK's Sporting has been taking store augmentation initiatives
for a long time. In fiscal 2013, the company introduced 44 new
stores and closed 3. To date, the company has opened 5 new
outlets in the current fiscal, including 2 in Florida and 1 each
in Wisconsin, California and Louisiana. Additionally, the company
opened a relocated store in Pennsylvania.
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 remodeling efforts, launch of
shop-in-shop facilities and recruitment of more talented 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 in late Sep 2013, DICK's
Sporting announced its plans to increase its retail store count
to 800 by the end of fiscal 2017 from 518 at the end of fiscal
2012. Further, the company will continue remodeling its existing
stores in order to keep them up-to-date and productive.
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.
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
while attracting newer ones and effectively promote its products.
Other Stocks to Consider
DICK's Sporting currently carries a Zacks Rank #3 (Hold). Other
stocks worth a look in the related industry include
Barnes & Noble Inc.
), carrying a Zacks Rank #1 (Strong Buy) and
Tractor Supply Company
) holding a Zacks Rank #2 (Buy).