Full-line sporting goods retailer DICK'S Sporting Goods Inc. 's ( DKS ) expansion strategy is on a roll as the company announced two new store openings, one each in Clermont, FL and Seabrook, NH.
The new Clermont store will be housed at Sandhill Commons, at 1325 Sandy Grove Ave and will be Florida's 28th outlet. The company's store in Seabrook located at the Seabrook Town Center will be its 5th store in New Hampshire.
The celebrations to mark the opening of these stores will commence from Jun 27 and extend over the weekend. Also, the stores will remain open for additional hours over the same time frame.
Offerings at these stores 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 Sports.
Moreover, in order to increase footfall at its new stores 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 early-birds 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 customers in line.
Additionally, to lure visitors, the company has invited celebrities like Jared Sullinger and Charlie Davies to make special appearances at the Seabrook Town Center store.
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 effectively. We believe that the company will benefit from its in-store actions and online growth plans.
DICK'S Sporting currently carries a Zacks Rank #5 (Strong Sell), reflecting lower-than-expected first-quarter fiscal 2014 results and trimmed guidance followed by downward revision in the Zacks Consensus Estimate.
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 unfavorable weather, which negatively impacted its golf and hunting businesses.
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, down 10% in the past 30 days.
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