Why Dick's Sporting Goods Is Seeing a Rebound
Dick's Sporting Goods (NYSE: DKS), the largest U.S. sporting goods retailer, has a lot of things going for it right now -- like strong demand for sporting goods -- supporting its revenue growth. Here are a few reasons why investors should consider Dick's Sporting Goods.
Dick's comparable store sales for the fiscal first quarter (ended May 4) decreased by 29.5% due to coronavirus-driven store closures, but revenue has strongly recovered since then, thanks to reopenings, pent-up demand, and interest in sporting goods. On June 12, Dick's announced "strong early sales" from its reopened stores. The sporting goods and apparel retailer is reinstating previously reduced salaries for staff, as well as its briefly suspended dividend program, and reopened all of its stores by the end of June.
Image source: Dick's Sporting Goods.
Source Fool.com
