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DICK'S Sporting Converts 8th TSA Store, Reopens in California
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In line with its expansion efforts, DICK'S Sporting Goods, Inc. (DKS - Free Report) announced plans to inaugurate a store in California. The new store will take the store count to 50 in the state. Notably, this will be the eighth The Sports Authority (TSA) location, which DICK’S Sporting is converting and reopening in fiscal 2017.
Located at Encinitas Ranch in Encinitas, the new store will take DICK'S Sporting’s nationwide store count to 687. The 50th California store is slated to open doors on Apr 7, with the grand celebrations extending over the weekend.
DICK’S Sporting has availed every opportunity to acquire intellectual property and store leases from the recent wind down of rivals The Sports Authority (TSA), Sport Chalet and Golfsmith. Evidently, DICK’s Sporting bought intellectual property assets of TSA in Jul 2016, along with the right to buy 31 store leases – out of which it plans to retain 22 leases in order to convert them into its own stores.
Progressing on these lines, the company opened three TSA locations under DICK’s banner in fourth-quarter 2016. In fiscal 2017, the company intends to open about 43 new DICK’S Sporting stores, 19 of which will be former Sports Authority stores. The aforementioned store in California forms part of this plan. Other than California, these reopening are expected to take place in Florida, Texas and the Pacific Northwest, where DICK’S Sporting has limited presence.
Coming back, the new store will accommodate a variety of apparel, accessories and equipment, alongside providing top-of-the-line in-store services as per the requirements of the community. Furthermore, the Encinitas location will house a fresh and improved footwear division in a bid to offer a wide selection of sports performance and casual footwear.
DICK'S Sporting has been aggressively expanding its store base and e-commerce capabilities to achieve its long-term revenues target of $8.7–$9.0 billion by the end of fiscal 2017. Apart from strengthening its store network, DICK’S Sporting is also focused on developing every possible avenue to generate incremental sales.
This Zacks Rank #3 (Hold) stock has outperformed the Zacks categorized Retail – Miscellaneous/Diversified industry in the past one year. While the stock rose 4.1%, the industry fell 1.2%.
Moving ahead, we believe that this full-line sporting goods retailer will benefit from its in-store actions, online growth and powerful marketing strategies. Further, the company’s customer-oriented efforts and healthy financial status also bode well, which is evident from its constant shareholder-friendly moves.
Children's Place has an average positive earnings surprise of 39% in the trailing four quarters. The stock also has a long-term growth rate of 10.3%.
Big 5 Sporting with long-term earnings per share growth rate of 12%, has delivered positive earnings surprise in the last three quarters.
MarineMax has posted an impressive average beat of 131.2% in the trailing four quarters. In addition, the stock rose 18.4% in the past one year.
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DICK'S Sporting Converts 8th TSA Store, Reopens in California
In line with its expansion efforts, DICK'S Sporting Goods, Inc. (DKS - Free Report) announced plans to inaugurate a store in California. The new store will take the store count to 50 in the state. Notably, this will be the eighth The Sports Authority (TSA) location, which DICK’S Sporting is converting and reopening in fiscal 2017.
Located at Encinitas Ranch in Encinitas, the new store will take DICK'S Sporting’s nationwide store count to 687. The 50th California store is slated to open doors on Apr 7, with the grand celebrations extending over the weekend.
DICK’S Sporting has availed every opportunity to acquire intellectual property and store leases from the recent wind down of rivals The Sports Authority (TSA), Sport Chalet and Golfsmith. Evidently, DICK’s Sporting bought intellectual property assets of TSA in Jul 2016, along with the right to buy 31 store leases – out of which it plans to retain 22 leases in order to convert them into its own stores.
Progressing on these lines, the company opened three TSA locations under DICK’s banner in fourth-quarter 2016. In fiscal 2017, the company intends to open about 43 new DICK’S Sporting stores, 19 of which will be former Sports Authority stores. The aforementioned store in California forms part of this plan. Other than California, these reopening are expected to take place in Florida, Texas and the Pacific Northwest, where DICK’S Sporting has limited presence.
Coming back, the new store will accommodate a variety of apparel, accessories and equipment, alongside providing top-of-the-line in-store services as per the requirements of the community. Furthermore, the Encinitas location will house a fresh and improved footwear division in a bid to offer a wide selection of sports performance and casual footwear.
DICK'S Sporting has been aggressively expanding its store base and e-commerce capabilities to achieve its long-term revenues target of $8.7–$9.0 billion by the end of fiscal 2017. Apart from strengthening its store network, DICK’S Sporting is also focused on developing every possible avenue to generate incremental sales.
This Zacks Rank #3 (Hold) stock has outperformed the Zacks categorized Retail – Miscellaneous/Diversified industry in the past one year. While the stock rose 4.1%, the industry fell 1.2%.
Moving ahead, we believe that this full-line sporting goods retailer will benefit from its in-store actions, online growth and powerful marketing strategies. Further, the company’s customer-oriented efforts and healthy financial status also bode well, which is evident from its constant shareholder-friendly moves.
Key Picks
Some better-ranked retail stocks include The Children's Place, Inc. (PLCE - Free Report) , Big 5 Sporting Goods Corporation (BGFV - Free Report) and MarineMax, Inc. (HZO - Free Report) . While Children's Place sports a Zacks Rank #1 (Strong Buy), Big 5 Sporting and MarineMax carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Children's Place has an average positive earnings surprise of 39% in the trailing four quarters. The stock also has a long-term growth rate of 10.3%.
Big 5 Sporting with long-term earnings per share growth rate of 12%, has delivered positive earnings surprise in the last three quarters.
MarineMax has posted an impressive average beat of 131.2% in the trailing four quarters. In addition, the stock rose 18.4% in the past one year.
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>