DICK'S Sporting Goods Inc. (DKS - Free Report) is set to open two sporting goods stores in July at Richmond, VA and Fort Collins, CO. Post the launch of these stores, DICK'S will operate 728 stores across 47 states.
The grand celebration of its store opening in Richmond will take place between Jul 13 and 15, while the other store at Fort Collins will hold an inaugural fest between Jul 20 and 22. Notably, the events will provide an opportunity to the customers to win prizes, alongside special guest appearances.
The company will offer exclusive apparel, equipment and footwear collections from its private brands like Tommy Armour, Field & Stream along with other key brands like NIKE (NKE - Free Report) , Under Armour (UAA - Free Report) and adidas (ADDYY - Free Report) to its customers.
With the opening of new stores, the company will be able to better-serve the athletes and outdoor enthusiasts belonging to these locations through their wide range of products and in-store experts. Also, this move will generate around 130 employment opportunities in these regions.
The company is on track with its store-expansion plans even in times when customers prefer online shopping. Earlier, the company opened four stores in May and two in April in a bid to build the best omni-channel experience for athletes.
As of May 5, 2018, DICK'S Sporting operated 724 namesake stores across 47 states, 94 Golf Galaxy stores in 32 states and 35 Field & Stream stores in 16 states.
Moreover, DICK’s Sporting intends to make significant investments in e-commerce, technology, store payroll, Team Sports HQ and private brands, which are likely to boost the top line. It is also progressing well with its merchandising strategy (announced in fourth-quarter fiscal 2016), which is all about optimizing inventory in order to make shelves available for popular and private label brands.
Going forward, the company is keen on investing the supply chain to improve in-stock levels as well as the speed and reliability of online delivery. These investments will not only improve customer satisfaction and inventory turnover but also boost merchandise margin rates. Also, the company plans to introduce 19 stores and relocate four flagship stores in fiscal 2018.
Backed by these strategic efforts, this Zacks Rank #3 (Hold) company’s shares have rallied 4.1% in the past six months against the industry’s decline of 0.1%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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