DICK'S Sporting Goods Inc. (DKS - Analyst Report) remains committed toward its strategy of store expansion and enhancement of store productivity for continued improvement. In line with its efforts to strengthen store base, the company announced plans to inaugurate two new stores – one each in California and Neveda. While the California store is slated to open doors on Oct 14, the Neveda store will be accessible to shoppers from Oct 7. The grand celebrations for the inauguration of these stores will extend over the weekend.
Additionally, the company announced that it will open a relocated store in Ohio on Oct 15. Celebrations for the opening of this relocated outlet will continue through Oct 16.
The new California store will be located at The Oaks Mall in Thousand Oaks, bringing the company’s store count in the state to 46. Further, the Neveda outlet will come up at the Meadowood Mall in Reno, making it the company’s third store in Neveda. These new stores will take DICK’S Sporting’s countrywide store base to 664.
Finally, the relocated store in Ohio will be housed at Sycamore Plaza in Cincinnati, just a few doors away from its previous location in the same mall.
The new stores will offer over 40 in-store services provided by DICK'S certified PROS in sports and outdoor specialties like golf, bike and fishing. Additionally, these locations will house Under Armour Inc. (UA - Analyst Report) and Nike Inc. (NKE - Analyst Report) shops. The outlets will also accommodate athletic clothing and footwear, along with the latest equipment for team sports, fitness, camping, hunting and fishing.
The relocated store will incorporate various upgrades such as a Women's Studio Apparel Department, a Soccer Shop, expanded Brand shops, Lacrosse and Baseball Shops in shop-in-shop format. A newly expanded footwear section will also be added to enhance shopping experience. The store will be appealing with wider aisles and clearly visible destinations for the brands’ shops, providing customers with an improved experience and the flexibility to browse through the offerings.
In order to attract customers to these stores during the celebration period, DICK’S Sporting has announced a range of lucrative giveaways.
At all the three stores, the company will distribute free Adidas Go-To Performance T-shirts from Adidas AG (ADDYY - Snapshot Report) to the first 100 people in queue on the opening day. The early birds (only adults), at the new California and Neveda stores, will also get an opportunity to open the DICK'S Sporting Goods Gift Locker on all three days of celebrations. Additionally, on Saturday and Sunday, the company plans to give away Mystery Gift Cards to the first 100 adults in line.
Similarly, at the relocated Ohio store, the first 100 people will be entitled to receive a free DICK’S Sporting Stadium Bag on Sunday. Further, the early birds (only adults) will get an opportunity to open the DICK'S Sporting Goods Gift Locker on both days.
Additionally, at the new stores various celebrities have been invited to make in-store appearances on Saturday. Moreover, those coming to the stores first will be handed out a wristband for autograph, while stocks last.
We believe that this full-line sporting goods retailer will benefit from its in-store action and online growth strategies. The company has been aggressively expanding its store base and eCommerce capabilities to achieve its long-term revenue target of over $10 billion by the end of fiscal 2017.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>