DICK'S Sporting Goods Inc. DKS is on an expansion spree as apparent from its latest announcement of opening a store at South Park Mall in Moline, IL. Slated to open doors on Apr 24, the celebrations for the launch will continue through the weekend.
The new store will mark the company’s 25th store in Illinois and expand its store count across the United States to 612.
This store will offer over 40 suitable in-store services provided by DICK'S certified PROS in sports and outdoor specialties like Golf, Bike and Fishing. Moreover, the new location will house Under Armour Inc. UA and Nike Inc. NKE shops. It will also include athletic clothing and footwear along with the latest equipment for team sports, fitness, camping, hunting and fishing.
In order to attract customers to its new stores during the celebration period, DICK’S has 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 three days. Moreover, on Saturday and Sunday, it plans to give away free Mystery Gift Cards worth $5–$500 to the first 100 adults in line.
Further, the company has invited former professional running back, Roger Craig to make a special appearance at the Illinois store on Saturday.
In line with its store expansion strategy, last week the company announced that it will open a new store at Burlington Commons in Burlington, IA and re-open a relocated store at The Shoppes at Parma in Parma, OH. While the new store will open doors on Apr 17, with celebrations slated to continue over the weekend, the relocated store will be inaugurated on Apr 19.
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 competent sales personnel have continually boosted its top line. Furthermore, this Zacks Rank #3 (Hold) company is aggressively enhancing its eCommerce capabilities to increase sales as well as market share in online retailing.
A better-ranked stock in the same industry is Build-A-Bear Workshop Inc. BBW, sporting a Zacks Rank #1 (Strong Buy).
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