DICK'S Sporting to Open 10th Kansas Store - Analyst Blog

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DICK'S Sporting Goods Inc. ( DKS ), in keeping with its aggressive store expansion strategy, is set to unveil another store in Kansas. The new store will be located at Schulman Crossing in Garden City, KS.

The opening of this store will mark DICK'S Sporting's 10th outlet in Kansas while it will increase the overall store count in the country to 577. The celebrations to mark the opening of this store will commence from Aug 29 and extend over the weekend. Also, the stores will remain open for longer hours over the same time frame.

The store offerings will include Nike ( NKE ), adidas ( ADDYY ) and Under Armour ( UA ) shops, athletic and outdoor apparel and footwear and the latest gear for team sports, fitness, camping, hunting and fishing. Additionally, the store will feature over 40 in-store services provided by DICK'S Sporting's certified PROS in sports and outdoor specialties including, Bike, Golf and Fishing.

Moreover, in order to enhance 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, customers who reach early will get an opportunity to open the DICK'S Sporting Goods Gift Locker, on all three 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 planned an attraction for the new Garden City store with hourly fishing shows on all three days with its 4,000 gallon bass tank on hand.

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 along with attracting new ones. These initiatives are expected to effectively promote its products. We believe that the company will also benefit from its in-store action and online growth plans.

DICK'S Sporting currently carries a Zacks Rank #4 (Sell) as it posted lower-than-expected first-quarter fiscal 2014 results and lowered its fiscal 2014 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 unfavorable weather conditions, which negatively impacted its golf and hunting businesses.

For fiscal 2014, management 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 $2.76 per share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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