Dicks Sporting Goods Partners With First Insight To 'Make Faster And More Accurate' Buying And Pricing Decisions

Dicks Sporting Goods Inc DKS announced on Wednesday a new agreement with First Insight, a provider of consumer-driven predictive analytic solutions.

As part of the agreement, First Insight will offer its analytic tools to help Dicks Sporting Goods make faster and more accurate product design, merchandise buying and pricing decisions.

Dicks Sporting Goods noted that it stands to gain "strategic guidance" on thousands of its products and designs. The company added that First Insight will enable management to gather real-time consumer preference and pricing data on candidate products months before the products are introduced to the market.

"First Insight is now a critical element in our product decision-making process," said Lee Belitsky, Executive Vice President, Planning, Replenishment, Allocations, and Product Development, DICK'S Sporting Goods. "By using First Insight to test items -- both branded and private label -- before making our buys, we are increasing speed to market of the right items. After evaluating the solution for an extended period, we have projected the solution will deliver a strong return on investment."

Shares of Dicks Sporting Goods were trading lower by more than 2 percent at $34.56 mid-Wednesday afternoon.