DICK’S Sporting Goods, Inc. DKS is firing on all cylinders with regard to store expansion, alongside enhancing its e-Commerce capabilities. In this regard, the company announced plans to inaugurate three new stores – one each in Florida, Arizona and California. The gala opening celebrations for these stores will take place from Mar 24 through Mar 26.
The new Florida store will be located at the Jensen Beach, marking the first store in the community, thereby taking the company’s store count in the state to 37. Further, the Arizona outlet will be housed in the North Scottsdale area of Phoenix, making it the company’s ninth store in the state. The California store will come up in the city of Fresno, taking the company’s store count in the state to 49. In fact, these stores will take DICK’S Sporting’s countrywide store base to 685.
In order to lure in customers during the celebration period, the company has announced attractive opportunities to win prizes. Additionally, special guests like Arizona Safety Tyrann Mathieu and Running Back Latavius Murray are invited to make in-store appearances in Phoenix and Fresno, respectively. On the other hand, the Jensen Beach location will feature 4,000-gallon Field & Stream bass tank, where customers can avail professional bass-fishing tips.
Prior to the opening of the aforesaid stores, DICK’S Sporting announced to inaugurate two new stores, one each in the states of Connecticut and California. Furthermore, the company had earlier announced its plans to open five new stores in three states − Davenport, IA, Queens, NY, and Hinesville, GA.
Dick's Sporting Goods Inc Price
Dick's Sporting Goods Inc Price | Dick's Sporting Goods Inc Quote
Recently, DICK’S Sporting came out with its stellar fourth-quarter fiscal 2016 results, wherein both sales and earnings surpassed expectations and improved year over year, with earnings marking its fourth successive beat. Results continued to gain from consolidation in the sporting goods space, and opportunities arising from the liquidation of rivals The Sports Authority, Sport Chalet and Golfsmith. Further, the company largely benefited from robust e-Commerce performance. (Read more: Why is DICK'S Sporting (DKS) Stock Down Despite Solid Q4?)
Going forward, the company expects to solidify its market position, by improving shoppers’ experiences at its stores; strengthening its brand value and e-Commerce growth. For fiscal 2017, the company expects adjusted earnings per share to range from $3.65–$3.75. Further, it envisions adjusted earnings in the band of 50–55 cents for the first quarter. The Zacks Consensus Estimate for the first quarter and fiscal 2017 are currently pegged at 55 cents and $3.71, respectively.
The company’s share price movement reveals that this Zacks Rank #3 (Hold) company has outperformed the Zacks categorized Retail – Miscellaneous/Diversified industry in the past one year. While the stock rallied 7.7%, the industry inched up by 0.4%.
We believe that this full-line sporting goods retailer will benefit from its in-store action, online growth and powerful marketing strategies. Further, the company’s customer-oriented efforts and healthy financial status bode well, as evident from its constant shareholder-friendly moves.
Better-ranked stocks in the Retail-Wholesale sector include The Children's Place, Inc. PLCE, Big 5 Sporting Goods Corporation BGFV and MarineMax, Inc. HZO, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Children's Place, with a long-term earnings growth rate of 10.3% has surged 71.1% in the past one year.
Big 5 Sporting, with a long-term earnings growth rate of 12% has increased nearly 28% in the past one year.
MarineMax has posted an impressive average beat of 131.2% in the trailing four quarters. In addition, the stock rose 25.1% in the past one year.
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