Officials also gave an update on the company's $362 million acquisition of competitor Galyan's Trading Company, on which it closed in July and gave the company an additional 47 stores. Dick's will convert all of the Galyan's units under its nameplate by next year's second quarter.
During the Q3 the company opened 14 stores and entered four new markets, Bangor, ME; Lafayette, IN; Madison, WI; and Muskegon, MI. This year, 60% of the stores the retailer has opened have been in new markets. The retailer has already opened the four stores it had planned for the current quarter. Dick's, based here, plans to close nine stores, three of them Galyan's, and six Dick's.
Among the company's strong-selling items this year was World Series champion Boston Red Sox merchandise, company officials said. They said the company has opportunities to sell more game-related items, such as poker accessories, as well as women's outdoors clothing.
During the quarter, Dicks' same-store sales were up 1.5% from the same year-ago period. Due to costs from its Galyan's merger, the company posted a net loss of $1.8 million. Total sales increased 60% over the last year's Q3, to $541 million.
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