"Depending on market opportunities, and the size and attractiveness of the properties, we will continue to look," said Joseph H. Schmidt, president and COO. "If they arise, we will continue to acquire the properties and possibly grow beyond our 2009 levels."
Most new units likely will be in the 35,000-square-foot to 55,000-square-foot range, versus older, two-level units that exceeded 100,000 square feet. The slowdown in new development is resulting in a greater reliance on redeveloped stores, which usually are smaller, the company explained. Southern California does not currently factor into expansion, though that could change. And the region is definitely being eyed for 2010 and 2011.
Net sales for the third quarter were $989.8 million, up 7.1% vs. the same quarter of 2008. Consolidated comparable-store sales rose 1.9%. Earnings were $18.9 million, compared with net income of $8.0 million for the prior-year quarter.
Dick's Sporting Goods operates 420 Dick's Sporting Goods stores in 40 states primarily throughout the eastern half of the United States, and 91 Golf Galaxy stores in 31 states.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
