5 Reasons to Buy Big 5 Sporting Goods By StockNews

5 Reasons to Buy Big 5 Sporting Goods

Stock MarketsApr 08, 2021 12:30PM ET

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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.

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5 Reasons to Buy Big 5 Sporting Goods

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