We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
DICK'S Sporting Opens 2 Stores, Strategic Plans On Track
Read MoreHide Full Article
In sync with its expansion plans, DICK’S Sporting Goods, Inc. (DKS - Free Report) recently announced the opening of a store each, in California and Tennessee.
Grand events related to the opening of the California store were held between Jun 16 and Jun 18. Further, the store in Tennessee is anticipated to open on Jun 30, with celebrations extending till Jul 2. The company opened its California outlet at Milpitas, while the one in Tennessee will be located at Oak Ridge. With the opening of these new stores, the store count of DICK’S Sporting Goods will reach 704.
Moreover, in order to lure customers during the celebration, the company announced various lucrative deals and giveaways. Additionally, special appearances by sports celebrities are likely to attract shoppers even further.
The company has been undertaking store expansions for a long time now, as through opening of stores management hopes to serve consumers better, offering a wider array of products. Evidently, in the first quarter of fiscal 2017, DICK’S Sporting inaugurated 15 namesake stores, two Field & Stream outlets, and eight Golf Galaxy stores.
However, given the challenges looming over the retail space, many retailers like Macy’s, Inc. (M - Free Report) and American Eagle Outfitters Inc. (AEO - Free Report) and J. C. Penney Company, Inc. are concentrating on optimizing store fleet. Following suit, DICK’S Sporting also announced plans to bring a slowdown in its store growth plan. The company plans to reduce its store openings significantly from 43 namesake openings expected in fiscal 2017 to 15–20 in fiscal 2018 and narrowing down from five to no store openings in fiscal 2019.
In the last six months, the company’s shares have underperformed Zacks categorized Retail-Miscellaneous/Diversified industry, with its shares down 30.5% compared with the industry’s decline of 9.7%.
Nevertheless, DICK’S Sporting strategies of constant product and service upgradation within its stores, along with dedicated initiatives to improve e-Commerce sales are expected to benefit over the long run. Let’s see if these endeavors can help the stock revive.
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.See the pot trades we're targeting>>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
DICK'S Sporting Opens 2 Stores, Strategic Plans On Track
In sync with its expansion plans, DICK’S Sporting Goods, Inc. (DKS - Free Report) recently announced the opening of a store each, in California and Tennessee.
Grand events related to the opening of the California store were held between Jun 16 and Jun 18. Further, the store in Tennessee is anticipated to open on Jun 30, with celebrations extending till Jul 2. The company opened its California outlet at Milpitas, while the one in Tennessee will be located at Oak Ridge. With the opening of these new stores, the store count of DICK’S Sporting Goods will reach 704.
Moreover, in order to lure customers during the celebration, the company announced various lucrative deals and giveaways. Additionally, special appearances by sports celebrities are likely to attract shoppers even further.
The company has been undertaking store expansions for a long time now, as through opening of stores management hopes to serve consumers better, offering a wider array of products. Evidently, in the first quarter of fiscal 2017, DICK’S Sporting inaugurated 15 namesake stores, two Field & Stream outlets, and eight Golf Galaxy stores.
However, given the challenges looming over the retail space, many retailers like Macy’s, Inc. (M - Free Report) and American Eagle Outfitters Inc. (AEO - Free Report) and J. C. Penney Company, Inc. are concentrating on optimizing store fleet. Following suit, DICK’S Sporting also announced plans to bring a slowdown in its store growth plan. The company plans to reduce its store openings significantly from 43 namesake openings expected in fiscal 2017 to 15–20 in fiscal 2018 and narrowing down from five to no store openings in fiscal 2019.
In the last six months, the company’s shares have underperformed Zacks categorized Retail-Miscellaneous/Diversified industry, with its shares down 30.5% compared with the industry’s decline of 9.7%.
Nevertheless, DICK’S Sporting strategies of constant product and service upgradation within its stores, along with dedicated initiatives to improve e-Commerce sales are expected to benefit over the long run. Let’s see if these endeavors can help the stock revive.
DICK’S Sporting currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>