Today Dicks Sporting Goods announces a grand opening celebration next weekend at Fountains of Farrah in El Paso, Texas, making this their fifth store opening this month. Hall of Fame running back Tony Dorsett will make a two hour appearance on Saturday, and the market presence will increase to 40 stores in the state of Texas. The previous four store openings this month have included Gretna, LA, Columbia, SC, South Plainfield, NJ, and Duluth, MN.
Dicks incorporated two hour special appearances by former New Orleans Saints running back Deuce McAllister, New York Jets running back Chris Ivory and Minnesota Wild Goaltender Josh Harding in their grand openings. At the grand reopening in Columbia, SC, no appearances were made by sports figures, but included specialized personal for their bike, lodge and golf departments.
As a main competitor in the sporting goods industry, Dicks competes with Cabelas Inc. and Hibbett Sports. Dicks has grown their market operations and presence in sports this year. In addition to opening over 10 sporting goods stores nationwide, Dicks Sporting Goods Inc. added Field & Stream in July to their market operations of Dicks Sporting Goods and Golf Galaxy. In August, Dick’s Sporting Goods Films partnered with ESPN for their release of Hell Week which was previously featured last year through Dick’s Sporting Goods web site. In May, Dicks Sporting Goods Pittsburgh Marathon was held in their headquartered city.
Dicks Sporting Goods Inc. (NYSE:DKS) opened the market today at 50.18 and is averaging a stock price of 49.38 for the year. Dicks Sporting Goods experienced a cyclical pattern of peaking in the third quarter of last year with a stock price of 50.12 and lowest in the first quarter with 43.75. With a current average at this point in the third quarter of 49.98, Dick’s is on track to maintain a market performance for the third quarter, yet their market performance increased by five points for the first quarter. It appears the cyclical pattern will be maintained this year, but overall market performance is projected to increase three percent based on current performance.
For more on Dick’s Sporting Goods visit www.dickssportinggoods.com
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