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DICK'S Sporting Goods Fortifies Store Network, 7 Openings Lined Up

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DICK'S Sporting Goods, Inc. (DKS - Free Report) consistent efforts to build the best omni-channel experience by strengthening store network and e-commerce presence are commendable. In sync with this, the company intends to inaugurate five namesake stores and two Golf Galaxy stores in October. With this, it will complete its planned store openings for third-quarter fiscal 2019. The company had earlier announced plans to open seven stores in the fiscal third quarter.

With the accretion of these stores, the company will operate 732 DICK'S Sporting Goods stores and 95 Golf Galaxy stores across 47 states.

The grand opening of these stores will take place from Oct 11 through Oct 13, at Miami, FL, Waterbury, CT and West Jordan, UT. The inauguration at Conroe, TX will take place on Oct 25 through Oct 27. At Downers Grove, IL and Dallas, the grand opening will take place on Oct 26 through Oct 27. These events will provide an opportunity for customers to win prizes alongside witnessing special guest appearances.

Store openings benefit the employees and the respective community. Apparently, the latest openings will bring about 400 collective jobs in these communities. Also, store opening helps in generating robust sales and boosts the company’s profitability. DICK'S Sporting’s new stores will serve customers with top brands and high-class services.

The communities can avail exclusive apparel, equipment and footwear collections from the company’s private brands like Tommy Armour, Field & Stream and more. Additionally, they will be offered assortments from leading athletic brands like NIKE (NKE - Free Report) and adidas (ADDYY - Free Report) .

In September, the company opened two flagship stores in Washington and Pennsylvania. As of Aug 3, 2019, DICK'S Sporting operated 727 namesake stores across 47 states, 95 Golf Galaxy stores in 32 states and 35 Field & Stream stores in 16 states. In fiscal 2019, management plans to open eight namesake and two Golf Galaxy stores.

Apart from store expansion, the company has been making significant investments in e-commerce, technology, store payroll, Team Sports HQ and private brands. It opened two dedicated e-commerce fulfillment centers in New York and California. Additionally, it is making efforts to improve its digital marketing efforts by strengthening partnerships with Google and Facebook (FB - Free Report) .

Impressively, e-commerce sales grew 21% in second-quarter fiscal 2019. E-commerce penetration improved to about 12% of net sales, up from roughly 11% in the prior-year quarter. Robust omni-channel initiatives are likely to enrich customers’ experience, and augment the company’s top and bottom lines.


 

We note that shares of this Zacks Rank #2 (Buy) stock have increased approximately 25% year to date against the industry’s 1.9% decline. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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