DICK'S Sporting Fortifies Store Network With 2 New Outlets
Zacks Investment Research | Apr 10, 2018 10:58PM ET
DICK'S Sporting Goods Inc.’s (NYSE:DKS) growth endeavor of strengthening store network and expanding e-commerce business is commendable. In a move to widen its footprint in Texas and Arkansas, the company has announced the launch of two flagship stores in April. With the accretion of these stores, the company will operate 727 DICK'S Sporting Goods stores across 47 states.
As of Feb 3, 2018, the company operated 716 DICK'S Sporting Goods stores across 47 states, 94 Golf specialty stores in 32 states and 35 Field & Stream stores in 16 states.
Grand opening celebrations for these stores will be held between Apr 27 and 29. While the store in Texas is expected to open doors at Richland Mall in Waco, that in Arkansas will be located at McCain Plaza in Little Rock. The gala opening events will include lucrative opportunities to win prizes. To lure customers, special guests are also invited to make in-store appearances.
We believe that the opening of stores benefit the employees and respective community. Hiring about 135 staffs in the new stores, the Waco and Little Rock communities can avail high-class services, with exclusive apparel and footwear collections from the company’s private brands like Tommy Armour, Field & Stream and more. Customers will also be offered assortments from leading players like NIKE, Inc. (NYSE:NKE) , Under Armour, Inc. (NYSE:UAA) and Adidas (DE:ADSGN).
Earlier, DICK'S Sporting had announced the opening of four namesake stores in March. These stores opened doors at Tyrone Square (NYSE:SQ) Mall in St. Petersburg, FL; Pace Crossroads in Pace, FL; Shoppes at Belmont in Lancaster, PA; and Town East Mall in Mesquite, TX.
Amid an evolving retail backdrop, where retailers are resorting to store closures and enhancing digital capabilities, players like DICK'S Sporting and Nordstrom, Inc. (NYSE:JWN) are aggressively opening stores to enhance shopping experience.
Further, DICK'S Sporting’s investments in e-commerce, technology, store payroll, Team Sports HQ and private brands bode well. Also, the company’s unique strategy of offering exclusive branded merchandise, sourced from leading manufacturers, provides it with a platform to better compete with other players. Notably, it is progressing well with its merchandising strategy (announced in fourth-quarter fiscal 2016), which is all about optimizing inventory in order to make shelves available for popular and private label brands.
Going ahead, the company plans to invest in the supply chain to improve in-stock levels and speed up delivery. These investments will not only improve customer satisfaction and inventory turnover but also boost merchandise margin rates.
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These laudable efforts have aided this Zacks Rank #3 (Hold) company’s shares to surge 38.5% in the last six months, cruising ahead of its Zacks Investment Research
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