Dick’s Sporting Goods Launches Concept Store As Competition Increases With Nike And Other Big Brands

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Dick’s Sporting Goods Inc. DKS, + 0.37% said Monday that it will launch a new store concept, Dick’s House of Sport, in Victor, NY on April 9. With a 17,000-square-foot outdoor grass field, a climbing wall, batting cage, health and wellness section to help those recovering from injury, and more, the store focuses on experiences.

A second Sports House will open in Knoxville, TN, later this year. Experiential Dick’s soccer stores will hit select locations starting April 5. The soccer stores will offer services from experienced sales associates of the sport and their team, an upgraded cleat store and more. See: H&M, Nike and other clothing brands boycotted in China by Xinjiang sanctions. Dick’s has redesigned its Golf Galaxy locations to provide a custom fit, hitting bays, and access to advanced golf technologies. And Dick’s is also adding two warehouse sales locations, offering deep discounts. With its new stores, Dick’s will have 730 locations in 47 states. The latest enhancements come as some of the biggest names in the athletic category are increasingly taking steps to sell in-demand merchandise directly to consumers. Baird noted in a March 26 update from Nike Inc. NKE, + 1.64% that the next phase of the company’s “Consumer Direct Offense” strategy will include 150 to 200 small-form stores in the US. Europe and technology investments that improve seamless transactions between stores and their digital channels. “Direct-to-consumer / digital advertising is also generating margin today and should drive further expansion, especially on a larger scale in the coming years,” analysts said. Baird rates Nike’s stock as top performer with a price target of $ 150. Look: 3 Ways Television’s Role Changed In The Pandemic AND Adidas AG ADS, + 1.71% Just Launched A New Collaboration With The Rapper Bad Bunny that requires a download of the company’s Confirmed app to buy it. The app features collaborations with other big names like Pharrell and Prada. In a Stifel sports report from late February and early March, analysts found that product shipping delays had led to inventory shortages at several retailers. Meanwhile, the lawsuit skyrocketed due to tax refunds and the NBA All-Star Game. “Store inventories are severely depleted, the shortage of popular products is palpable in conversations with store employees, and consumers are turning to digital channels for the best availability,” the analysts said. “We believe this scarcity dynamic is perpetuating both consumer appetite for in-demand styles and adoption of digital channels. App data suggests this acceleration to digital has favored Nike, with an average daily SNKRS app users increasing 139% year-over-year. “In its most recent earnings report for March 9, Dick’s said that its capital allocation plan includes between $ 275 million and $ 300 million in store-focused spending, including the concept store, and technology investments. Stores accounted for more than 70% of the retailer’s fourth-quarter online sales , and the company says it’s focused on the overall customer experience, whether it’s digital or in-store. Dick’s stock has risen 35% in the last three months and soared 334% over the last year. S&P 500 SPX benchmark index, + 1.29% has risen 63.6% in the last 12 months.