There seems to be no stopping full-line omni-channel sporting goods retailer Dick's Sporting Goods, Inc. DKS as the company forges ahead with the expansion of its All-American Sports Center store model. Notably, this particular model was first launched in Jul 2015 and it accommodates both the company’s namesake and Field & Stream stores under the same roof.
The company announced that it will open All-American Sports Center at The Parke in Cedar Park, TX on Mar 3, 2017. The grand opening celebrations for the store will continue for three days, through the weekend.
Following, the opening of the new store, the company’s store count in the U.S. will increase to 677 and Field & Stream store nationwide to 29. Further, this will be 33rd DICK'S store as well as third Field & Stream store in Texas.
The new store will offer customers the convenience to shop for all DICK’S Sporting and Field & Stream products at one location, thereby enhancing shopping experience. Additionally, this outlet will offer an all-new and improved collection of footwear. This includes casual footwear as well as shoes exclusively for sports performance.
In order to attract customers to the new store during celebration period, the company has announced of lucrative opportunity 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 32.5%, outperforming the Zacks categorized Retail-Miscellaneous/Diversified industry, which increased 11.5%.
Concurrent with the store opening announcement, the company also informed that it has hiked its dividend payout by nearly 12% to 17 cents from 15.125 cents per share. This brings its annualized payout to 68 cents per share, reflecting a dividend yield of nearly 1.3% based on the increased dividend and the last closing stock price of $51.75. The new dividend will be paid on Mar 31, 2017 to shareholders of record as of Mar 10, 2017.
Zacks Rank & Stocks to Consider
DICK's Sporting currently carries a Zacks Rank #3 (Hold). Better-ranked stocks worth considering in the retail sector include Barnes & Noble, Inc. BKS, Cabela's Incorporated CAB and Staples, Inc. SPLS. All these stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Barnes & Noble has an impressive long-term earnings growth rate of 10%.
Cabela's has a long-term earnings growth rate of 12.5%.
Shares of Staples have gained nearly 7% in the past three months.
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