DICK'S Sporting To Open Store, Strategic Efforts In Place

In line with its store-expansion efforts, DICK'S Sporting Goods, Inc. (NYSE:DKS) has announced the inauguration of an additional outlet in Eastvale, CA, in mid-July. Including the new store, the company will now operate 729 DICK'S Sporting Goods domestic stores across 47 states.

The grand opening of this store will take place on Jul 12 through Jul 14, at Limonite Ave. The event will provide an opportunity for customers to win prizes alongside special guest appearance.

Generally, store openings are beneficial for the employees and respective community. Also, it helps in generating robust sales and boosts the company’s profitability. DICK'S Sporting new store will serve customers with top brands and high-class services. The communities can avail exclusive apparel, equipment and footwear collections from the company’s private brands like Tommy Armour, Field & Stream and more. Additionally, they will be offered assortments from players like NIKE, Inc. (NYSE:NKE) and adidas AG (OTC:ADDYY) .

In the last reported quarter, the company opened a Golf Galaxy store apart from relocating one namesake store and closing two. As of May 24, 2019, DICK'S Sporting operated 727 namesake stores across 47 states, 95 Golf Galaxy stores in 32 states and 35 Field & Stream stores in 16 states.

In fiscal 2019, the company plans to open seven namesake and two Golf Galaxy stores. Of these, it expects to inaugurate six stores in the third quarter of fiscal 2019. Meanwhile, the company plans to relocate three namesake stores and one Golf Galaxy store.

Notably, DICK’S Sporting has been gaining from continued focus on developing every possible avenue to generate increased sales. As part of its long-term plan, the company plans to make significant investments in e-commerce, technology, store payroll, Team Sports HQ and private brands. Impressively, e-commerce sales grew 15% (excluding the calendar shift) in first-quarter fiscal 2019.

Investments throughout fiscal 2019 will be focused on enhancing in-store experiences for athletes, improving e-commerce fulfillment capabilities, and developing technology solutions to boost athlete experience and employee productivity. Additionally, DICK’S Sporting is making efforts to improve its digital marketing efforts by strengthening partnerships with Facebook (NASDAQ:FB) .

Backed by these strategic initiatives, this Zacks Rank #2 (Buy) stock has gained 12.2% year to date, outperforming its industry’s 11.8% growth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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