Prediction: Dick's Sporting Goods Stock Will go Parabolic After Aug. 25. Here's Why.
Dick's Sporting Goods saw sales rise 67% year over year in Q1.
Overview
The stock for Dick's Sporting Goods (NYSE: DKS), a leading sporting goods retailer, is primed for a big move after it releases its fiscal second-quarter earnings on Aug. 25. The reason has to do with performance trajectory.
Dick's looks like an even better buy, in part, because of a stock sell-off it experienced on Aug. 20 on news that its Britain-based rival JD Sports reported a comparable-store sales decline in the summer quarter and lowered the retailer's outlook. The thing is, JD Sports also had a weak first quarter, with comp sales dropping, so I donʻt expect Dickʻs to suffer the same results, given its momentum.
Details
In the first quarter, Dickʻs posted blowout results with net sales spiking 67% year-over-year to $5.16 billion. Overall comp sales were up 6%. Including Foot Locker, which Dick's bought last September, comp sales were up 4.1%.
Source
Originally published at www.fool.com.