Dick's Sporting Goods Opens Big Lead Over Competition, Could Double Current Store Base
Dick's Sporting Goods, which operates 511 stores nationwide and has "enjoyed 17% sales growth, on average, for the past 10 years," is "leaving the competition in the dust," according to Christopher Williams of the WALL STREET JOURNAL. The company "has an 8.5% market share, ahead of rival Foot Locker, with 6%." Dick's stock "trades at around $50, but the shares could reach $60 in the next 12 months, as earnings grow." The company expects to "operate 900 stores before reaching saturation, almost double its current store base." Some analysts think that Dick's could "open at least 36 new stores this year, which would help power earnings growth" (WSJ.com, 3/3). At presstime, Dick's Sporting Goods shares were trading at $50.40, down .24% from Friday's close of $50.52 (THE DAILY).