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DICK'S Sporting on Expansion Spree, Plans 4 Store Openings

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DICK'S Sporting Goods DKS focuses on expanding global footprint by store expansion efforts. To this end, the company announced four store openings for March. This includes two namesake stores and two Golf Galaxy stores.

Celebrations for the opening of one of the namesake stores will take place from Mar 7 through Mar 8 in Chattanooga, TN. The opening of the other flagship store is scheduled for Mar 21 in Hagerstown, MD. Meanwhile, celebrations for the opening of the Golf Galaxy stores in Devon, PA, and Warwick, RI, will be held on Mar 14-15. The events will provide an opportunity for customers to participate in fun activities and win prizes for the same.  

Apart from serving customers efficiently in the respective communities and generating higher revenues, store openings usually result in increased job opportunities. In this regard, the company anticipates these store openings to create roughly 120 additional jobs, including full-time, part-time and temporary store associates, in the above-mentioned locations. 

Following the store openings, customers can avail exclusive apparel, equipment and footwear collections from the company’s private brands like DSG, Tommy Armour, CALIA by Carrie Underwood, Field & Stream and Fitness Gear. Additionally, they will be offered assortments from leading athletic brands like NIKE NKE, adidas ADDYY, YETI, The North Face, Callaway and TaylorMade.

With the recent additions, the company will have 727 DICK'S Sporting Goods stores and 96 Golf Galaxy stores across 47 states. Prior to this, two namesake stores were launched in Texas and Alabama along with one Golf Galaxy store in Alabama in February. In October 2019, the company inaugurated five namesake stores and two Golf Galaxy stores. Also, it launched two flagship stores in Washington and Pennsylvania in September. 

Apart from these, the company has been making significant investments in e-commerce, technology, store payroll, Team Sports and private brands. In third-quarter fiscal 2019, e-commerce sales grew 13% year over year. Moreover, e-commerce penetration improved to about 13% of net sales, up from roughly 12% in the prior-year quarter. 

Going ahead, DICK'S Sporting is poised on enhancing in-store experiences for athletes, improving e-commerce fulfillment capabilities and developing technology solutions to boost athlete experience and employee productivity. Additionally, the company is likely to gain from partnerships with Google and Facebook (FB - Free Report) as part of its digital marketing efforts.

Such efforts to enhance store and e-commerce business are likely to aid the company’s performance. Notably, this Zacks Rank #1 (Strong Buy) stock has gained 4.4% in the past six months against the industry’s decline of 2.5%. You can see the complete list of today’s Zacks #1 Rank stocks here.

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