At a time when retailers are ramping up their digital capabilities to stay relevant and capitalize on the recent online boom,
DICK’S Sporting Goods, Inc. ( DKS Quick Quote DKS - Free Report) has joined its counterparts to offer same-day delivery service to more than 150 stores across the United States by collaborating with Instacart. Customers in Connecticut, Delaware, Georgia, Maryland, New Jersey, New York, Ohio, Pennsylvania, Virginia and Washington D.C. can now avail this service by visiting Instacart or DICK’S Sporting’s website. Topping it, Instacart will deliver orders as per customers’ scheduled time or within an hour of ordering. Other notable retailers partnering with Instacart to improve delivery facilities include Rite Aid Corporation ( RAD Quick Quote RAD - Free Report) , Big Lots ( BIG Quick Quote BIG - Free Report) and Bed Bath & Beyond ( BBBY Quick Quote BBBY - Free Report) . Coming back to DICK’S Sporting, this move is in sync with consumers’ increasing preference for workout gear, sporting goods and outdoor equipment during the coronavirus situation. Encouragingly, the company remains focused on improving its omni-channel capabilities by strengthening store network and expanding e-commerce presence. As a result, strong online demand along with curbside pickup services and BOPIS led to a solid online show during third-quarter fiscal 2020. E-commerce sales soared 95%, accounting for nearly 21% of net sales. Moreover, mobile sales penetration grew more than 50% with an uptick in mobile app downloads. Also, its stores fulfilled roughly 70% of online sales to meet customers’ growing online demand. Sources believe that the company witnessed a solid online show during the Black Friday sale, which started earlier this November and spanned for 10 days. The company gained from a spike in demand for active lifestyle apparel, outdoor and at-home fitness items. Also, its newly launched omnichannel services, including mobile checkout and return stations, a Shop/Click/Pay app at a few locations and a store management plan bode well. With flexible pickup and fast shipping facilities in place, DICK’S Sporting is likely to benefit in the near and long term. Apart from strength in online sales, favorable customer demand and a solid product portfolio contributed to better-than-expected fiscal third-quarter results, wherein both top and bottom lines improved year over year. Strength in hardlines, apparel and footwear acted as key growth drivers. Notably, consolidated same-store sales (comps) grew 23.2%, driven by a 19.6% rise in average ticket and a 3.6% increase in transactions. Going forward, the company noted that this strong momentum continued in the fourth quarter. In fact, consolidated comps grew in the high teens in the first three weeks of the fourth quarter. Shares of this Zacks Rank #1 (Strong Buy) company have gained 7.8% year to date, outperforming the industry’s growth of 9.2%. You can see . the complete list of today’s Zacks #1 Rank stocks here Biggest Tech Breakthrough in a Generation
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