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Full-line sporting goods retailer DICK'S Sporting Goods Inc. (DKS - Analyst Report) remains focused on driving growth through the expansion of its store base and incorporation of technological advancements to better serve its clients. In line with its strategic initiatives, the company recently declared the opening of three new stores, of which, two will come up in the state of California and one in Kansas. Additionally, the company announced the opening of its specialty Field & Stream retail store in Kentucky.
In California, the two new DICK’S Sporting stores will each be located at the Redding Hilltop Center in Redding and The Mall of Victor Valley in Victorville. The opening of these stores will take the company’s store count in the state to 31. In Kansas, DICK’S Sporting’s new store will be at the Midstate Plaza in Salina and will mark the 8th outlet in the state.
Including these new outlets, DICK’S Sporting store count is now 541. The celebrations to mark the opening of these stores will commence on Oct 18 and extend over the weekend. The store offerings will include over 40 suitable in-store services provided by DICK'S certified PROS in Golf, Bike, Hunting, Fishing, Team Sports and more.
In order to attract customer traffic into its new stores throughout the celebration period, DICK’S Sporting has announced a range of lucrative giveaways. The company will distribute Mystery Gift Cards in the range of $5–$500 to the first 100 adults in line on Friday and Saturday. Moreover, on Saturday, it plans to give free Under Armour Tech T-Shirts manufactured by Under Armour Inc. (UA - Snapshot Report) to the first 100 adults in line. On Sunday, it will distribute free Scratch & Win cards to the first 100 adults in line.
On the other hand, the company’s Field & Stream store will be located at Buttermilk Towne Center in Crescent Springs. The store is scheduled to open to public on Nov 1 with celebrations extending over the weekend. This will mark the company’s second store in Crescent Springs. Apart from giveaways and activities during the celebration weekend, the company’s customers will get the opportunity to learn tips and techniques from proficient anglers at the 4,000 gallon Field & Stream bass tank, and practice at the Field & Stream archery trailer.
Offerings at the Field & Stream store will include outdoor equipment, accessories and services in hunting, fishing, archery, camping and more. Additionally, the store will cater to a large collection of leading national outdoor brands, including Hoyt, Remington, Sitka, Sage, Simms and Yeti and provide first class in-store services.
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 efforts such as the remodeling of stores, launch of shop-in-shop facilities and recruitment of more sales personnel have boosted top-line growth. Furthermore, the company is aggressively enhancing its e-Commerce capabilities to increase its sales as well as market share in online retailing.
In its recent annual Analyst Day meet, DICK’S Sporting announced its plans to increase retail store count to 800 by the end of fiscal 2017 from 518 stores at the end of fiscal 2012. Further, the company will remodel its existing stores from time to time in order to keep them up-to-date and productive.
Additionally, the company remains focused on maintaining strong relations with its vendors, introducing fashionable products and concentrating on high growth categories such as Women and Youth.
Moreover, DICK’S Sporting intends to increase its e-Commerce sales to nearly $1.1 billion by the end of fiscal 2017, from $292 million at the end of fiscal 2012. For this, the company will control its e-Commerce platform beginning with Golf Galaxy and Field & Stream in 2014, and DICK’S Sporting from fiscal 2017-end.
Other Stocks to Consider
DICK’S Sporting currently carries a Zacks Rank #4 (Sell). Other stocks in the retail sector that are worth a look include Five Below Inc. (FIVE - Snapshot Report) and Cabela’s Incorporated (CAB - Analyst Report). Both of these carry a Zacks Rank #2 (Buy).