Over the past three weeks, the Big 5 Sporting Goods (NASDAQ: BGFV) stock has proven to be a significant gain, up 115%. The stock’s rally continued this morning, rising another 13%.
The stock rose after the company continued to impress in its latest earnings report. Big 5 Sporting Goods benefited significantly from increasing consumer demand for sports and outdoor equipment during the coronavirus pandemic.
Big 5 Sporting Goods posted sales growth of 31.8% in the same store, well above their own forecast of 20%. Revenue soared to $ 272.8 million, a massive 25% increase, and gross margins, on the other hand, also increased to 35.9%. Profitability also rose, and earnings per share for the quarter were $ 0.96, significantly higher than $ 0.22 per share for the same period last year. Investors might consider keeping an eye on the stock for the next few days.
Finance and Tech Workers