DICK’S Sporting Goods Inc. (DKS - Analyst Report) stands out with its strategy to remain focused on aggressively expanding its retail store base, alongside developing its eCommerce capabilities. In line with its efforts to strengthen store base, the company announced plans to inaugurate five new stores – including two in Ohio and one each in Washington, Florida and Tennessee. These stores are slated to open doors on Oct 28, with the celebrations extending over the weekend.
The new stores in Ohio will be located at Bechtle Crossing in Springfield and New Towne Mall in New Philadelphia, bringing the company’s store count in the state to 40. Further, the Washington outlet will come up at the Capital Mall in Olympia, making it the company’s 10th store in Washington. In Florida, the company will open its 36th store at Mission Bay Plaza in Boca Raton, while the Tennessee store opening at College Square Mall in Morristown will be the company’s 17th store in the state. These new stores will take DICK’S Sporting’s countrywide store base to 676.
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.
In order to attract customers to these stores during the celebration period, DICK’S Sporting has announced a range of lucrative giveaways.
The company will distribute free Adidas (ADDYY - Snapshot Report) Go-To Performance T-shirts to the first 100 people in queue on the opening day. Further, the early birds will 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.
Furthermore, at the new stores various celebrities have been invited to make in-store appearances on Saturday and Sunday. 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 by the end of fiscal 2017.
DICK’S Sporting currently sports a Zacks Rank #1 (Strong Buy). the complete list of today’s Zacks #1 Rank stocks here.
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