California Centers

SEP 2017

California Centers Magazine serves retailers, developers, shopping center owners, investment sales brokers and tenant representation firms throughout the state of California.

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Page 16 of 56

14 California Centers Magazine | September 2017 C C D ICK's Sporting Goods an- nounced the opening of six new stores in May 2017, among which were units opened in Chula Vista and San Jose. In mid- June, the company announced the grand opening of two new stores in two states, one of which was a store at The Great Mall of The Bay Area in Milpitas, California. "We're excited to expand our presence in Milpitas, California and Oak Ridge, Tennessee in the coming weeks," stated Lauren Hobart, presi- dent of DICK's Sporting Goods. "The love for sports and outdoors in these markets provides us with a great op- portunity to serve residents in a way only we can. The new stores will car- ry a wide range of apparel, equip- ment and accessories, and offer top- of-the-line in store services tailored to the needs of each community." During each grand opening, cus- tomers have the chance to obtain prize giveaways, take advantage of introductory promotions and brand activations, and meet several special guests (such as San Jose ice hockey forward Patrick Marleau in Milpitas). Founded in 1948, DICK's Sport- ing Goods, Inc. has demonstrated remarkable staying power over its nearly 70 years of operation as a om- ni-channel sporting goods retailer. Ed Stack, Dick's son, is the current CEO and Chairman of the company. He and his siblings bought the store from their father and are responsi- ble for taking two stores and grow- ing the company to the powerhouse it is today. The chain has expanded rapidly over the last two decades, and last year bought the intellectual property of its bankrupt competitor, Sports Authority. DICK's brought in $7.0 billion in 2016, up 9 percent from its 2015 revenue figures. The addition of the most recent locations (two new store openings were just announced in early August) brings the compa- ny's store count to 704 DICK's loca- tions operating throughout the Unit- ed States. An undisputed leader in the sport- ing goods category, the company at- tributes its distinctive position in the industry to a passion for the business and agility in managing market chal- lenges. Among primary strategies for achievement have been driving mar- ginal growth through inventory man- agement, private brand sales, unique vendor relationships, store enhance- ments, and operating leverage. The other key strategies are maintaining a competitive e-commerce channel and expanding its store network. In- deed, the sporting goods retailer has demonstrated consistent growth in store units each year, with dozens of new locations opened annually. The company also owns and operates Golf Galaxy and Field & Stream spe- cialty stores, and DICK's Team Sports HQ, an all-in-one youth sports digital platform supporting league manage- ment, mobile apps for scheduling, communications, uniforms, score keeping, and access to donations and sponsorships. Despite the effects of a sluggish economy on the retail specialty seg- ment overall, DICK's has continued to pull ahead. Through in depth evaluation of its business strengths, as well as industry trends and re- gionalized demographics, corporate executives have been able to identify opportunities that enable the compa- ny to achieve its expansion targets. The company has continually up- graded its e-commerce platforms to DICK'S SPORTING GOODS Full-line Specialty Store Demonstrates Staying Power. DICK's Sporting Goods has been in business for nearly 70 years and has more than 700 locations nationwide.

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