DICK'S Sporting Goods Inc. DKS took another step toward fortifying its store base as it announced the introduction of five new stores, slated to open doors on Oct 23. These stores will be located at Joliet Commons in Joliet, IL; Metro Crossing in Council Bluffs, IA; Oshkosh, WI; The Marketplace in Marysville, WA; and Home Depot Plaza in North Haven, CT. Celebrations to mark the launch of these stores will continue over the following weekend.
The new Illinois outlet will bring the company’s store count in the state to 27; the Iowa store will be its seventh one in the state; while the store in Wisconsin will be its eleventh one. The fourth store will mark the opening of the seventh outlet in Washington and the fifth one will increase the company’s store count in Connecticut to 11. Together, these stores will expand DICK'S Sporting’s store base in the U.S. to 640.
The new stores will offer over 40 suitable in-store services provided by DICK'S Sporting’s certified PROS in sports and outdoor specialties like Golf, Biking and Fishing. Moreover, all the five locations will house Under Armour Inc. UA and Nike Inc. NKE shops. These stores will also accommodate 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 Sporting 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. The early birds will also get an opportunity to open the DICK'S Sporting Goods Gift Locker on all three days. Moreover, on Saturday and Sunday, the company plans to give away Mystery Gift Cards worth $5–$500 to the first 100 adults in line.
Apart from store openings, DICK’S Sporting announced that it will be opening one of its relocated stores on Oct 24 at Liberty Center in Liberty Township, OH. This store was originally located at Springdale, at Tri-County Commons. The new outlet will incorporate various upgrades such as a Women’s Studio Apparel Department, a Soccer Shop, expanded Brand shops, Lacrosse Shop, Baseball Shop and a new, full service footwear deck.
We believe that this full-line sporting goods and apparel retailer will benefit from its in-store actions and online growth strategies. The company’s in-store remodeling efforts, launch of shop-in-shop facilities and recruitment of competent sales personnel have consistently boosted its top line. Furthermore, the company is aggressively enhancing its eCommerce capabilities to increase sales as well as market share in online retailing.
Zacks Rank
DICK’S Sporting currently has a Zacks Rank #2 (Buy). 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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