Full-line sporting goods retailer DICK'S Sporting Goods Inc. (DKS) is leaving no stone unturned when it comes to store expansion. Last week, the company announced the opening of three renovated stores and the introduction of one new store.
DICK'S Sporting announced the opening of a remodeled store each in Toledo, OH; Gaithersburg, MD and Wilkes-Barre, PA, spanning 50,000, 100,000 and 45,000 square foot respectively, on Oct 12.
These new stores 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.
Also, in order to attract customer traffic to its new stores during the celebration period, DICK’S Sporting announced that early birds will get an opportunity to open the DICK'S Sporting Goods Gift Locker.
Coming to the new store introduction, the company announced that it will add a new store in Richmond, IN, marking the state’s 19th and the country’s 588th store. The celebrations to mark the opening of the new store will commence on Oct 10 and extend over the weekend.
The store offerings will include over 40 suitable in-store services provided by DICK'S Sporting certified PROS in sports and outlook specialties including Golf, Bike and Fishing. Moreover, the new locations will be highlighted by Under Armour, Inc. (UA) and Nike, Inc. (NKE) shops. It will also include other 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, DICK’S Sporting announced a range of lucrative giveaways during the celebration period.
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 free Mystery Gift Cards worth $5–$500 to the first 100 adults in queue.
Additionally, to lure customers, the company has invited Anthony Castonzo to make a special appearance at the new store on Saturday.
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 competent sales personnel have continually boosted its top line. Furthermore, the company is aggressively enhancing its eCommerce capabilities to increase sales as well as market share in online retailing.
DICK’S Sporting currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the same industry is Barnes & Noble, Inc. (BKS), which carries a Zacks Rank #1 (Strong Buy).
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