Impressive Grand Opening for Dick's Sporting Goods in Tulsa Metro Area
As a sports enthusiast and investor, DKS probably provides me the ultimate junction of hobby and professional life of any stock worth owning.
The grand opening was complete with one of the biggest media blitzes that I've seen or maybe just noticed. Possibly its just that I listen to the sports show on the radio or read the local sports section that I happened to notice the advertising by DKS more than say a women's clothing store or the Chipotle Mexican Grill (CMG) when it arrived.
Most people have probably witnessed grand openings of DKS prior so this is already first hand knowledge, but the grand opening ordeal was complete with autograph sessions of OKC Thunder players, past local football greats like Barry Sanders and Thurmon Thomas, not to mention OU legendary coach Barry Switzer.
The ordeal also included fishing demonstrations via a portable outside tank and several other promotions.
Within a weekend, DKS probably already owns the sporting goods market in Tulsa. The competition is already out gunned by the store numbers with Sports Authority and Academy only claiming 2 stores each. On top of that neither store provides a compelling or interesting reason to visit the store other than by default.
As an investor, I've always been impressed by the consistently strong results of this stock. DKS has dominated the sector by providing a better retailing experience and a dominating marketing presence. Now I know something new. As somebody that has only shopped at a few stores outside Oklahoma over the years, I never experienced the overwhelming marketing blitz.
From the outside, I've noticed how it made impressive buyouts in California and the NW during the financial collapse. The company is strong and makes moves on strength to take advantage of weaker competitors. This weekend just solidified the investment thesis. A new store probably hardly known by consumers now owns the market.
Good job Dicks!
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Stone Fox Capital
Stone Fox Capital holds an allocation of 4.6% in $DKS in his Opportunistic Arbitrage Covestor Model
Disclosure: Long DKS. Please review disclaimer page for more details.