DICK'S Sporting Goods Announces the Grand Opening of Two New Concept Stores

Rhea-AI Summary

DICK'S Sporting Goods (NYSE: DKS) is set to enhance its market presence by launching two new store concepts: OVERTIME by DICK'S Sporting Goods and DICK'S Sporting Goods Warehouse. These stores will provide significant discounts on popular athletic brands, offering up to 75% off at OVERTIME locations and up to 90% off at Warehouse Sale sites. The first OVERTIME stores will open on June 17, 2020, in Connecticut, Maryland, and Pennsylvania, while five Warehouse locations debut on June 15, 2020. This expansion brings the total number of outlet and clearance centers to 11 across nine states.

Positive

• Expansion of retail footprint with new store concepts.
• Opportunity for increased revenue through discounted athletic brands.
• Currently operating 11 outlet and clearance centers in nine states.

Negative

• None.

PITTSBURGH, June 16, 2020 /PRNewswire/ -- DICK'S Sporting Goods (NYSE: DKS), the largest U.S.-based, full-line omni-channel sporting goods retailer, will be expanding its nationwide footprint with the opening of two new concept stores – OVERTIME by DICK'S Sporting Goods and DICK'S Sporting Goods Warehouse.

Following the opening of three clearance centers last year in in Utica, MI, Spartanburg, SC and Racine WI, DICK'S is expanding its footprint of outlet and clearance stores to provide access to some of the nation's most-popular athletic brands at great prices in additional communities across the country. With these openings, DICK'S will have 11 outlet and clearance centers open in nine different states. 

OVERTIME by DICK'S Sporting Goods locations will offer an expansive assortment of apparel, footwear and equipment at up to 75% off Nike, adidas, Under Armour and other brands customers have enjoyed shopping for at DICK'S locations for many years. New markdowns will be added throughout the year, keeping inventory at these outlet centers fresh for shoppers.

Three stores will be opening tomorrow in Connecticut, Maryland and Pennsylvania with plans to operate in these communities for the foreseeable future.

OVERTIME by DICK'S Sporting Goods
City/State	Store Location	Opening Date
Plainville, CT	Connecticut Commons 280 New Britain Avenue Plainville, CT 06062	June 17, 2020
Hagerstown, MD	The Center At Hagerstown 17780 Garland Groh Blvd. Hagerstown, MD 21740	June 17, 2020
Philadelphia, PA	Liberty Plaza 20 Franklin Mills Blvd. Philadelphia, PA 19154	June 24, 2020

OVERTIME stores will be open Monday – Saturday from 9 a.m. to 9 p.m. and Sunday 9 a.m. to 7 p.m. Visit dicks.com/Overtime for additional details and information.

In addition, the Company is also opening five DICK'S Sporting Goods Warehouse Sale locations, which will offer deeper discounts on customer-favorite footwear and apparel brands at up to 90% off. These clearance stores will provide a temporary pop-up-style shopping experience for customers in these communities over the next six months. Five Warehouse Sale locations are currently operational.

DICK'S Sporting Goods Warehouse
City/State	Store Location	Opening Date
Avon, IN	Gabel Crossing 214 Gable Crossing Drive Avon, IN 46123	June 15, 2020
St. Peters, MO	The Crossing at Mid Rivers 321 Costco Way St. Peters, MO 63376	June 15, 2020
North Olmstead, OH	Olmstead Plaza 4706 Great Northern Blvd. North Olmstead, OH 44070	June 15, 2020
South Hills, PA	Village Square Mall 4000 Oxford Drive Bethel Park, PA 15102	June 15, 2020
Brookfield, WI	18550 W. Bluemound Rd. Brookfield, WI 53005	June 15, 2020

Warehouse stores will be open Monday – Sunday from  10 a.m. to 7 p.m. Visit dicks.com/Warehouse for additional details and information.

About DICK'S Sporting Goods, Inc. 
Founded in 1948, DICK'S Sporting Goods, Inc. is a leading omni-channel sporting goods retailer offering an extensive assortment of authentic, high-quality sports equipment, apparel, footwear and accessories. As of May 2, 2020, the Company operated 726 DICK'S Sporting Goods locations across the United States, serving and inspiring athletes and outdoor enthusiasts to achieve their personal best through a blend of dedicated teammates, in-store services and unique specialty shop-in-shops dedicated to Team Sports, Athletic Apparel, Golf, Lodge/Outdoor, Fitness and Footwear.

Headquartered in Pittsburgh, PA, DICK'S also owns and operates Golf Galaxy and Field & Stream specialty stores, as well as GameChanger, a youth sports mobile app for scheduling, communications and live scorekeeping.  DICK'S offers its products through a content-rich eCommerce platform that is integrated with its store network and provides customers with the convenience and expertise of a 24-hour storefront.  For more information, visit the Investor Relations page at dicks.com.

CONTACTS: DICK'S Sporting Goods, 724-273-5552, press@dcsg.com

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SOURCE DICK'S Sporting Goods

FAQ

What new store concepts is DICK'S Sporting Goods launching?

DICK'S Sporting Goods is launching two new store concepts: OVERTIME by DICK'S Sporting Goods and DICK'S Sporting Goods Warehouse.

When are the new OVERTIME stores opening?

The new OVERTIME stores are scheduled to open on June 17, 2020.

What discounts can customers expect at OVERTIME stores?

Customers can expect discounts of up to 75% off on popular athletic brands at OVERTIME stores.

Where are the new Warehouse Sale locations being opened?

The new Warehouse Sale locations are opening in Avon, IN; St. Peters, MO; North Olmstead, OH; South Hills, PA; and Brookfield, WI.

What is the stock symbol for DICK'S Sporting Goods?

The stock symbol for DICK'S Sporting Goods is DKS.