DICK'S Sporting Goods Inc.
) is aggressively continuing with the expansion strategy as it
announced the opening of yet another store at a prime location. The
new store will be located at The Maxwell shopping zone at Canal
Street in Chicago, IL.
This store will be DICK'S Sporting's 24th outlet in Illinois and
increase the overall tally in the country to 571. The celebrations
to mark the opening of the store will commence from Jun 13 and
extend over the weekend. Also, the store will remain open for
longer hours over the same time frame.
The store offerings will include over 40 in-store services provided
by DICK'S Sporting's certified PROS in sports and outlook
specialties including, Bike, Golf and Fishing.
Moreover, in order to enhance footfall at its new store during the
celebration, DICK'S Sporting announced a range of lucrative
giveaways. The company will distribute free Reebok Play Dry®
T-Shirts to the first 100 people in queue on the opening day. Also,
the customers who reach early will get an opportunity to open the
DICK'S Sporting Goods Gift Locker, on all 3 days. Further, on
Saturday and Sunday, it plans to give free Mystery Gift Cards worth
$5-$500 to the first 100 adults in line.
Apart from these alluring offers, the company has invited Brandon
Marshall, a popular football player, to make a special appearance
at the store on the final day.
We believe that DICK'S Sporting's strategic measures of
consolidating its store base and the use of technology to provide
better services are likely to strengthen its relationship with
present customers while attracting new ones. These initiatives are
expected to effectively promote its products. We believe that the
company will benefit from its in-store action and online growth
DICK'S Sporting currently carries a Zacks Rank #5 (Strong Sell) as
it recently posted lower-than-expected first-quarter fiscal 2014
results and lowered its fiscal guidance.
The company's adjusted earnings of 50 cents per share not only
missed the Zacks Consensus Estimate of 53 cents but also came below
its own guidance range of 51-52 cents. Management blamed the miss
on the unfavorable weather, which negatively impacted its golf and
For fiscal 2014, management now anticipates earnings per share to
be between $2.70 and $2.85, down from the previous forecast of
$3.03-$3.08. Currently, the Zacks Consensus Estimate stands at
$2.78 per share.
Other Stocks to Consider
Some better-ranked stocks in the same industry include
Office Depot, Inc.
Five Below, Inc.
), each carrying a Zacks Rank #2 (Buy).
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