DICK'S Sporting Goods, Inc. (DKS - Free Report) is gaining momentum on the back of its growth initiatives, including unique merchandising strategy and constant store-expansion endeavors. In a recent move, the company announced plans to inaugurate four stores this month, two namesake and two Golf Galaxy stores.
The company’s flagship stores are slated to open doors at Northpointe Plaza in Spokane, WA and at Southridge Mall in Greendale, WI. Its Golf Galaxy stores will open at Fallon Gateway, Dublin, CA and the other at the same location in Wisconsin, where the second flagship outlet is slated to open. The grand opening celebration of the Spokane outlet will take place between Oct 12 and 14, while that for Dublin it will be held between Oct 13 and 14. Notably, the opening celebrations for both the stores in Greendale will be held between Oct 26 and 28. The opening events will have lucrative opportunities for customers to win prizes, besides special guests’ appearances.
Apart from serving customers efficiently in the respective communities and generating higher revenues, store openings usually result in increased job opportunities. These new stores will offer top brands and high-class in-store services. In addition, customers can avail exclusive apparel, equipment and footwear collections from the company’s private labels like Tommy Armour, Field & Stream and more. Assortments from leading players including, NIKE, Inc. (NKE - Free Report) , Under Armour, Inc. (UAA - Free Report) and adidas AG (ADDYY - Free Report) will also be available.
As of Aug 4, 2018, DICK'S Sporting Goods operated 729 namesake stores across 47 states, 94 Golf Galaxy stores in 32 states and 35 Field & Stream stores in 16 states. Following the latest addition of stores, the company will operate 733 DICK'S Sporting Goods stores, 96 Golf Galaxy stores and 35 Field & Stream stores.
Last month, management announced the inauguration of four namesake stores. Two of these stores will open in Florida, and one each in Arizona and Indiana. In August, it inaugurated a flagship store in Raleigh, NC, in the company’s existing Golf Galaxy location.
Additionally, the company remains focused on boosting its e-commerce operations, which fueled the company’s second-quarter fiscal 2018 performance. In the reported quarter, the company registered e-commerce growth of 12% year over year, after adjusting the calendar shift due to the 53rd week in fiscal 2017. Notably, e-commerce penetration improved to about 11% of net sales compared with 9% in the prior-year quarter.
Solid omni-channel efforts coupled with other growth strategies have lifted the company’s share price performance. This Zacks Rank #2 (Buy) stock has rallied 18.5% year to date, outperforming the industry’s 8.6% growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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