Dick’s Sets Lofty Sales Goals (DKS)
Dick’s Sporting Goods (DKS) detailed a long-term plan for its sales and profit growth for the next five years.
Fiscal 2012 saw sales of $5.8 billion for the sports-retailer, but the firm expects that to be $10 billion by the end of 2017. This would require compounded annual growth of around 11% through the end of 2017.
The firm hopes that its brick and mortar stores as well as eCommerce growth will be two of the biggest drivers of this growth. Currently operating 581 locations (at the end of 2012), Dick’s hopes to have as many as 800 up and running by the end of 2017, allowing it to better serve its consumers.
Dick’s shares were up a massive $1.84, or 3.49%, at Wednesday’s close. The stock is up nearly 16% this year.
The Bottom Line
Shares of Dick’s Sporting Goods (DKS) are currently yielding 0.95% based on Wednesday’s closing price of $52.71.
Dicks Sporting Goods (DKS) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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