Moving ahead with its expansion strategy, DICK'S Sporting Goods Inc. DKS unveiled the plan to open two new stores on Aug 7. The celebrations for the launch of these stores, located at Porter's Vale in Valparaiso, IN; and Hay Creek Shops in Bismarck, ND, will continue over the following weekend.
The new Indiana outlet will bring the company’s store count in the state to 20, while the North Dakota store will mark the opening of the first DICK’S Sporting outlet in the state. These stores will expand the company’s store base in the United States to 620.
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, the new 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 free Mystery Gift Cards worth $5–$500 to the first 100 adults in line.
We believe that this 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, the company is aggressively enhancing its eCommerce capabilities to increase sales as well as market share in online retailing.
DICK’S Sporting currently has a Zacks Rank #4 (Sell). A better-ranked stock in the same industry is Five Below Inc. FIVE, carrying a Zacks Rank #2 (Buy).
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