In line with its strategic initiatives, full-line sporting goods retailer DICK'S Sporting Goods Inc. (DKS) recently unveiled its newly relocated store in Mentor, OH.
Spanning 55,000 square feet, the new DICK’S Sporting store will be housed at the Great Lakes Mall in Mentor. Prior to this, the retail outlet was located at Creekside Commons. The relocated store will open its gates for the masses from May 31.
The new outlet will feature various enhancements such as a Women's Studio Apparel Department, a Baseball Shop, a Soccer Shop, a Running Center with a local event agenda, a Lacrosse Shop, a newly expanded Youth Footwear section, and expanded Brand Shops along with an efficient checkout facility.
In order to attract customer traffic to its new store during the celebration period, DICK’S Sporting announced that early birds will get an opportunity to open the DICK'S Sporting Goods Gift Locker.
We believe that the full-line sporting goods and apparel retailer will benefit from its in-store action and online growth strategies. The company’s in-store remodeling efforts, launch of shop-in-shop facilities and recruitment of more competent sales personnel have continually boosted top-line growth. Furthermore, the company is aggressively enhancing its e-Commerce capabilities to increase its sales as well as market share in online retailing.
At its annual Analyst Day meet held in late September, DICK’S Sporting announced plans to increase its retail store count to 800 by the end of fiscal 2017 from 518 at the end of fiscal 2012. In addition, the company will also continue revamping its existing stores in order to keep them up-to-date and productive.
Moreover, DICK’S Sporting intends to increase its e-Commerce sales to nearly $1.1 billion by the end of fiscal 2017 from $292 million at the end of fiscal 2012.
We believe that the company’s strategic measures of consolidating its store base and the use of technology to provide better services will not only strengthen its relationship with present customers but also attract newer ones and effectively promote its products.
Other Stocks to Consider
DICK’S Sporting currently carries a Zacks Rank #5 (Strong Sell). Some better-ranked stocks in the industry include ITOCHU Corp. (ITOCY), Office Depot, Inc. (ODP) and Five Below, Inc. (FIVE), each carrying a Zacks Rank #2 (Buy).
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