DICK'S Sporting (DKS) Relocates 2 Stores, Furthers Growth

Underscoring its store optimization plans, DICK’S Sporting Goods Inc. (NYSE:DKS) announced that it will open two relocated stores, one each in Ohio and Michigan.

The relocated Michigan outlet, which was previously housed at Utica, will now be located in Sterling Heights. On the other hand, the store in Ohio will be relocated just a few doors away to Colerain Towne Center in Colerain. Both relocated outlets are slated to open doors on Jul 9, 2016, with celebrations continuing through Sunday.

These stores will incorporate various upgrades such as a Women's Studio Apparel Department, a Soccer Shop, expanded Brand shops, Lacrosse and Baseball Shops in shop-in-shop format. A newly expanded footwear section will also help enhance customers’ shopping experience.

The relocated stores will look attractive with wider aisles and clearly visible destinations for the brands’ shops, providing customers with an improved experience and the flexibility to easily move around.

Further, DICK’S Sporting has announced a range of lucrative giveaways in order to attract customers to its new stores during the celebration period.

The company will distribute free Reebok Play Dry T-Shirts to the first 100 people in queue on the opening day. Likewise, the first 100 people will be entitled to receive a free DICK’S Sporting Stadium Bag the next day. Additionally, the early birds (only adults) will get an opportunity to open the DICK'S Sporting Goods Gift Locker on both days.

We believe that this full-line sporting goods and apparel retailer 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. Also, DICK’s Sporting’s customer-oriented strategies and healthy financial status bode well, as evident from its constant shareholder-friendly moves.

DICK's Sporting currently carries a Zacks Rank #3 (Hold). Also, the stock was up 3.6%, closing at $41.51 on Jun 28.

Stocks to Consider

Better-ranked stocks in the same industry include Cabela's Incorporated (NYSE:CAB) and ULTA Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA) , each with a Zacks Rank #2 (Buy). Another well-ranked stock in the related textile-apparel industry is Delta Apparel Inc. (NYSE:DLA) , with a Zacks Rank #1 (Strong Buy).

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