Recently, full-line sporting goods retailer
DICK's Sporting Goods Inc.
) took its store expansion plan forward with the declaration of a
store opening in Tallahassee, FL. The celebration to mark the
store opening will commence on Aug 23 and extend over the
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Located at the Tallahassee Shopping Center -- 1729 Apalachee
Parkway, the store will be the company's 23rd outlet in the state
of Florida and 528th store across the United States. 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 its last earnings release, DICK's Sporting reiterated its
plans to open 40 new namesake stores and relocate 1 of them
during fiscal 2013. Of the total DICK's Sporting stores slated be
open, 7 have already been opened in the second quarter while 20
will be opened in the third quarter. Additionally, the company
hopes to complete the remodeling of 4 DICK's Sporting Goods
stores, while partly renovating 75 stores.
The company also intends to open 1 new Golf Galaxy store and
relocate 1 Golf Galaxy store in fiscal 2013. Furthermore, DICK's
Sporting wants to open 1 True Runner store and 2 new Field &
Stream stores in 2013.
We believe that DICK'S Sporting continues to progress well with
its growth initiatives, which include expanding the store base
and incorporating technological advancements to serve its clients
better. The company leverages an extensive network of stores to
effectively penetrate into target markets, which in turn, enable
the company to generate healthy sales and gain a competitive
Apart from expanding its store base, DICK'S Sporting is focusing
on customer needs to generate opportunities that will boost
sales. In order 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 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 products.
Other Stocks to Consider
Dick's Sporting currently carries a Zacks Rank #4 (Sell). Other
stocks in the retail sector worth considering include
Five Below, Inc.
Steiner Leisure Ltd.
Tractor Supply Company
). All these carry a Zacks Rank #2 (Buy).