Why Shares of Dick's Sporting Goods Soared This Week
Shares of Dick's Sporting Goods (NYSE: DKS) were soaring this week, according to data from S&P Global Market Intelligence. The sports apparel and equipment retailer is posting strong comparable sales growth yet again, driving its earnings to new heights. It has been on a tear in recent years, up over 500% in the last five years alone.
As of 1:26 p.m. ET, shares of the stock are up 17.2% this week. Here's why.
In the quarter ending May 4, Dick's Sporting Goods posted 5.3% comparable sales growth and 6.2% overall revenue growth. Comparable sales growth measures the revenue growth from existing stores. A 5.3% positive reading shows investors that Dick's is driving traffic and more spending at its stores with its focus on sports retailing.
Source Fool.com
