Full-line sporting goods retailer DICK'S Sporting Goods Inc. (DKS) remains focused on driving growth through the expansion of its store base. In line with its strategic initiatives, the company recently announced the opening of a new Field & Stream store in Erie, Pennsylvania.
The specialty retail concept store, which offers a wide variety of outdoor equipment, accessories and services for fishing, camping, hunting, archery and many more will be located at Millcreek Marketplace, 2075 Interchange Road in Erie. The store is scheduled to open on June 13 with celebrations extending over the weekend.
Apart from enjoying giveaways and activities during the celebration weekend, the company’s customers will get the opportunity to learn tips and techniques from proficient anglers at the 4,000 gallon Field & Stream bass tank, and practice at the Field & Stream archery trailer.
Offerings at the Field & Stream store will include outdoor equipment, accessories and services in hunting, fishing, archery, camping and more. Additionally, the store will cater to a large collection of leading national outdoor brands, including Hoyt, Remington, Sitka, Sage, Simms and Yeti and provide first class in-store services.
Apart from this, Dick’s Sporting also announced that it is looking for anglers, campers, hunters and outdoor enthusiasts to join the company as associates. The interested candidates may apply at Jobs.Field&StreamShop.com. Selected candidates will be provided training on equipment and apparel enabling them to assist customers.
We believe that this full-line sporting goods and apparel retailer will benefit from its in-store action and online growth strategies. The company’s in-store remodeling efforts, launch of shop-in-shop facilities and recruitment of more talented sales personnel have boosted top-line growth. Furthermore, the company is aggressively enhancing its e-Commerce capabilities to increase its sales as well as market share in online retailing.
At its annual Analyst Day meet held late last September, DICK’S Sporting announced its plans to increase its retail store count to 800 by the end of fiscal 2017 from 518 at the end of fiscal 2012. At the end of fiscal 2013, the company was operating 558 stores. Further, the company will continue remodeling its existing stores in order to keep them up-to-date and productive.
Moreover, DICK’S Sporting intends to increase its e-Commerce sales to nearly $1.1 billion by the end of fiscal 2017 from $292 million at the end of fiscal 2012. At the end of fiscal 2013, sales from e-commerce increased to $491 million.
We believe that the company’s strategic measures of consolidating its store base and the use of technology to provide better services will enhance its relationship with present customers while attracting new ones and effectively promote its products.
Other Stocks to Consider
DICK’S Sporting currently carries a Zacks Rank #3 (Hold). Other better-ranked stocks in the shoe/apparel retail sector that are worth a look include Skechers USA Inc. (SKX), Carter’s Inc. (CRI) and Brown Shoe Co. Inc. (BWS). Of these, Skechers has a Zacks Rank #1 (Strong Buy) while Carter’s and Brown Shoe carry Zacks Rank #2 (Buy).