DICK'S Sporting Goods Inc. DKS remains on track with its store expansion strategy alongside enhancing eCommerce capabilities. Keeping pace with its efforts to strengthen store base, the company announced plans to inaugurate five new stores in three states − Davenport, IA, Queens, NY and Hinesville, GA. These stores will be opened during the second week in March with celebrations occurring from Mar 10 through Mar 12.
The outlet to be located at Glendale area of Queens, will take DICK'S Sporting Goods store count to 678 in the U.S. and 41 in the state of New York. Moreover, this will be the second location in Manhattan, following an opening on Staten Island in 2011. This store will be among the few Sports Authority locations that DICK'S acquired as part of the ongoing industry consolidation.
The store slated to be opened in Hinesville, GA, will take DICK'S Sporting Goods store count to 679 in the U.S. and 20 in Georgia.
There seems to be no stopping full-line omni-channel sporting goods retailer, as it forges ahead with the expansion of a new concept store, the third of its kind in the country. The company will inaugurate DICK'S Sporting Goods, Field & Stream and Golf Galaxy all under one roof in Davenport.
Following the openings, DICK'S Sporting Goods store count will increase to 680 in the U.S., Field & Stream store numbers will jump to 29, while Golf Galaxy store count will shoot up to 92. Further, this will be eighth DICK'S store, first Field & Stream store and second Golf Galaxy store in Iowa.
In order to attract customers to the new store during celebration period, the company has announced lucrative opportunities to win prizes. Further, several special guests are invited to make in-store appearances throughout the weekend to cheer customers.
We believe that DICK’s Sporting will benefit from its in-store action and online growth strategies. The company has been gaining from the expansion of its omni-channel network, and powerful marketing and merchandising strategies. Further, the company’s customer-oriented strategies and healthy financial status bode well, as evident from its constant shareholder-friendly moves.
The stock’s movement in the past one year also bears testimony to the company’s reasonably good performance. In the above-mentioned time frame, the company’s shares have gained 24.4%, outperforming the Zacks categorized Retail-Miscellaneous/Diversified industry, which increased 8.6%.
DICK'S Sporting Goods carries a Zacks Rank #3 (Hold). Better-ranked stocks in the retail sector include Burlington Stores, Inc. BURL, Kate Spade & Company KATE and The Children's Place, Inc. PLCE. All three of these stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Burlington Stores delivered an average positive earnings surprise of 25.6% in the trailing four quarters and has a long-term earnings growth rate of 19.9%.
Kate Spade delivered an average positive earnings surprise of 14.6% in the trailing four quarters and has a long-term earnings growth rate of 28.3%.
Children's Place delivered an average positive earnings surprise of 36.3% in the trailing four quarters and has a long-term earnings growth rate of 10.3%.
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