Plans are still in the works to operate 800 Dick's stores throughout the country, up from its current 409, said Edward Stack, the retailer's chairman and chief executive officer, during his company's second-quarter earnings call. "We're not changing our store count right now," he said.
But many of those stores could go into existing spaces since developers are having trouble coming up with capital to build new projects. "We think the new development piece is going to be difficult," Stack said.
But even if that is the case, Dick's does not plan to change its store formats. On the upside for the retailer, landlords are asking for cheaper rents.
Same-store sales during the second quarter, though declining 4.1% year over year, were much better than the 6% to 9% decline that executives had previously forecast. Its namesake locations fell 3.2%, while the 91 Golf Galaxy stores dropped 11.1%.
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