The stock’s up 200% since March. Online sales in the most recent quarter were up 194%. A hot cloud computing company? No, we’re actually talking about that strip-mall staple for soccer cleats and golf clubs: Dick’s Sporting Goods.
The sports retailer, like many of its peers, was hit hard by the pandemic amid shutdowns and store closures, and even announced it would suspend its dividend when things were looking especially bleak in March.
But now, Dick’s stock has not only clawed its way back for its trough at around $16 per share in March, but has soared to just under $54 as of the market close on Wednesday, nearing its all-time high of $62 in 2016.
“I don’t think people would have seen it as a pandemic winner,” Morningstar’s David Swartz tells Fortune.
On Wednesday, Dick’s reported 2nd quarter earnings up 148% from the quarter a year prior. … Read More