Full-line sporting goods retailer DICK'S Sporting Goods Inc.’s (DKS) expansion strategy is on a roll as the company announced 3 new store openings, one each in Culpeper, VA, Arden, NC and Lawrence, KS.
The new Culpeper store will be housed on Montanus Drive, at Culpeper Colonnade and serve Virginia’s 26th outlet. The company’s store in Arden will be on The Landing location, making it its 30th store in the state. Lastly, the new DICK’S Sporting store located at lowa Street in Lawrence will be Kansas’ 9th outlet. The addition of these 3 stores brings the total store count in the country to 570.
The celebrations to mark the opening of these stores will commence from Jun 6 and extend over the weekend. Also, the store will remain opened for additional hours over the same time frame.
The store offerings 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.
In order to attract customer traffic to its new store during the celebration period, DICK’S Sporting announced a range of lucrative giveaways. The company will distribute free Reebok Play Dry® T-Shirts and T-Shirts manufactured by Under Armour Inc. (UA) to the first 100 people in queue on the opening day. Also, the customers who reach early will get an opportunity to open the DICK'S Sporting Goods Gift Locker, on all 3 days. Moreover, on Saturday and Sunday, it plans to give free Mystery Gift Cards worth $5–$500 to the first 100 adults in line.
Additionally, to lure visitors, the company has invited celebrities like Danny Manning, Pierre Garcon and Tyler Hansbrough to make special appearances at the stores.
We believe that the company 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 efficient sales personnel have boosted top-line growth. Furthermore, the company is aggressively enhancing its e-Commerce capabilities to increase sales as well as market share in online retailing.
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 newer ones. These initiatives are expected to 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) and Five Below, Inc. (FIVE), each carrying a Zacks Rank #2 (Buy).
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