Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

5 Reasons to Buy Big 5 Sporting Goods

Published 04/08/2021, 10:54 AM
Updated 04/08/2021, 12:30 PM
© Reuters.  5 Reasons to Buy Big 5 Sporting Goods

© Reuters. 5 Reasons to Buy Big 5 Sporting Goods

The demand for sports apparel has increased during the COVID-19 pandemic as people recognize the importance of staying fit while locked in at home to meet social distancing needs. As a result, Big 5 Sporting Goods (BGFV) has been witnessing increased demand for its athletic apparel and equipment. With that, we believe it could be wise to bet on the stock now based on its strong financials and dominant market position.Operating for more than six decades, Big 5 Sporting Goods Corporation (BGFV) is an established player in the sporting goods retail space. It has gained 128.5% over the past three years and 53% over the past five years. This can be attributed to its strong market presence—both online and offline—and impressive brand strength.

Because team sports were widely suspended amid the worst of the COVID-19 pandemic, the company’s revenue was affected slightly as the demand for related products fell. However, this was more than offset by strength in its other product categories. BGFV reported impressive total revenue growth in its last-reported quarter.

As people have recognized the importance of staying fit while spending most of the time at home, the demand for BGFV’s athletic apparel has increased. This led to the stock’s 95.8% gain over the past six months. So, we think it is wise to bet on the stock now because this trend is expected to continue in the coming months.

Continue reading on StockNews

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.