The $4 billion publicly traded Fortune 500 company plans to open its first New Mexico store next summer in the former Wal-Mart and American Home space at Cottonwood Commons near N.M. 528 and Ellison NW.
The Coraopolis, Pa.-headquartered company signed a 10-year lease in August to occupy 50,000 square feet of the 87,000-square-foot space at 3550 N.M. 528.
Dick’s Sporting Goods stores are typically staffed by athletes and packed with about 27,000 different items, and features stores within the stores such as a golf specialty section, according to published reports and the company website.
Dick’s currently has 10,000 employees and 456 stores in 42 states. It also owns 81 Golf Galaxy stores in 30 states, as well as e-commerce and catalog operations for Dick’s Sporting Goods and Golf Galaxy, the company’s website says.
Journal messages for comment were not returned by Dick’s Sporting Goods, but the company says in news releases that it becomes an active member of the communities it serves through the efforts of the company’s Community Marketing and Youth Sports programs.
“This year, through its Community Youth Sports Program, Dick’s Sporting Goods will donate thousands of coach’s equipment kits to youth sports organizations across select markets – reaching over a million athletes,” the company said in a news release.
At the company’s newest store grand opening in Layton, Utah, this week it scheduled a variety of product giveaways and athlete appearances including former BYU All-American and 2011 John R. Wooden Award winner Jimmer Fredette.
The Albuquerque property picked by Dick’s has been empty since it was purchased by Columbus Pacific Properties of Santa Monica, Calif., in December. Columbus will begin construction to improve the property in October, said Kino James, of Base 5 Retail Partners, which negotiated the deal.
Dick’s Sporting Goods will take possession in February and should open in June, said Phillip Duke, head of national acquisitions with Columbus Pacific Properties. Columbus is looking to fill the rest of the building with another retailer, Duke said.
Financial management firm Canaccord, which earlier this month initiated coverage of Dick’s, said the company could double its number of stores, based on how much it has grown.
Analyst Camilo Lyon initiated coverage of Dick’s Sporting Goods Inc. and a couple of competitors with a “Buy.”
Dick’s stock, which trades on the New York Stock Exchange, closed Tuesday at $34.42, up $1.53 for the day. Company stock was trading just under $27 a share about a year ago, and hit a high of more than $42 a share in May.
Top institutional stockholders include Wells Fargo, Vanguard Group, Manning & Napier Advisors, Blair & Co., Goldman Sachs, Rainier Investment Management, Invesco, State Street, JP Morgan Chase & Co. and Bamco Inc.
— This article appeared on page A1 of the Albuquerque Journal