Full-line sporting goods retailer,
Dick's Sporting Goods Inc.
), takes its store expansion program a step ahead with its plans
to open a new store at the East Washington Place in Petaluma,
Calif. Celebrations to mark the store's opening will begin on Jun
7, with offers extending over the weekend.
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Located at the new East Washington Place, 401 Kenilworth Drive,
Suite 1030, this store will be Dick's Sporting's 28th store in
Calif. and its 523rd store across the country. This latest
store's offerings will include over 40 convenient in-store
services carried out by DICK'S certified PROS in Golf, Bike,
Hunting, Fishing, Team Sports and more.
During the first quarter of fiscal 2013, Dick's Sporting opened 2
namesake stores. This brought the company's count of DICK's
Sporting Goods stores to 520, located across 44 states, and Golf
Galaxy stores to 81 in 30 states.
During fiscal 2013, the company plans to open 40 new namesake
stores and relocate 1 of them. Of the total DICK's Sporting
stores to be opened, 7 are scheduled to open in the second
quarter. Additionally, the company hopes to complete the
remodeling of 4 DICK's Sporting Goods stores, while partly
remodeling 75 stores. It also intends to open 1 new Golf Galaxy
store and relocate 1 Golf Galaxy store in fiscal 2013.
In the long term, the company aims at opening nearly 400 stores,
targeting a total store count of about 900 in the United States.
We believe Dick's Sporting continues to progress well with its
growth initiatives, which include expanding its store base and
bringing in technological advancements to better serve its
patrons. The company leverages an extensive network of stores to
effectively penetrate into its target markets, which in turn,
enables the company to generate healthy sales and gain a
competitive advantage over its rivals, including
Foot Locker Inc.
Big 5 Sporting Goods Corp.
Wal-Mart Stores Inc.
Apart from expanding its store base, Dick's is also focusing on
buyers' needs to generate growth opportunities that will augment
sales. The company aims to provide topnotch shopping experience
to its customers and has introduced a new mobile application for
iPhones and Android Smartphones that enables the consumers to
locate the company's stores in any particular area and buy goods
directly using the application.
We believe that the company's strategic measures of solidifying
its store base and using technology to provide better customer
services will enhance its relationship with clients and help
attract and retain customers as well as promote its offerings.
Currently, Dick's Sporting has a Zacks Rank #3 (Hold).