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DICK'S Sporting's Store Expansion on Track, To Add 2 Outlets

Zacks Equity Research

DICK'S Sporting Goods, Inc. DKS has been aggressively expanding its store base, along with enhancing eCommerce capabilities. In sync with its store expansion strategy, the company recently announced plans to inaugurate two new stores, one each in the states of Connecticut and California. The store openings will take place from Mar 17 through Mar 19. These stores will accommodate a variety of apparel, accessories and equipment, alongside exclusive brands like CALIA by Carrie Underwood, Field & Stream and Walter Hagen.

The new Connecticut store will be located in the city of Norwalk, making it the company’s 12th store in the state. Further, the California outlet will come up in the city of Sunnyvale, marking the first store in the city, thereby bringing the company’s store count in the state to 47. In fact, these stores will take DICK’S Sporting’s countrywide store base to 682.

Furthermore, in order to attract customers to the new stores during celebration period, the company has announced lucrative opportunities to win prizes. Further, special guests are invited to make in-store appearances throughout the weekend to cheer customers.

Prior to the opening of the aforesaid stores, the company had announced plans to inaugurate five new stores in three states − Davenport, IA, Queens, NY, and Hinesville, GA. Moving ahead, these stores are slated to open doors during the second week of March.

Dick's Sporting Goods Inc Price

Dick's Sporting Goods Inc Price | Dick's Sporting Goods Inc Quote

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. This Zacks Rank #3 (Hold) stock has considerably outperformed the Zacks categorized Retail – Miscellaneous/Diversified industry in the past one year. While the stock climbed up 15.9%, the industry gained 2.5%.

Key Picks

Investors looking for better-ranked stocks in the Retail-Wholesale sector may opt for The Children's Place, Inc. PLCE, Big 5 Sporting Goods Corporation BGFV and MarineMax, Inc. HZO.

The Children's Place, with a long-term earnings growth rate of 10.3%, has surged 48.7% in the past one year. The stock currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Big 5 Sporting, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 12 %. The stock rose nearly 26% in the past one year.

MarineMax, a Zacks Rank #2 stock has increased 20.2% in the past one year. Also, the stock has outpaced the Zacks Consensus Estimate with an average of 131.2% in the past four quarters.

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