Best Sporting Good Stocks to Invest In
March 15, 2022 (Investorideas.com Newswire) The pandemic has been hard on everyone. Bettors have been no exception. Moreover, if you are someone who enjoys watching sports and then bets on the winnings of a player, team or on the general scores of the match, times are really adverse for you. However, the growing online betting industry is here to help you out. At sites such as cybersport, you can do sports betting right from your home. So, you can check out sites and sportsbooks that suit you the best. However, the next best way of investing your money in sports would definitely be stocks. So, here is a list of some of the best sporting good stocks where you can invest in.
1. Dick's Sporting Goods
It is probably the most leading name in the sporting goods industry with around 854 stores including Golf Galaxy and Field & Stream locations. Prior to the pandemic, they were rather stagnant in the market owing to competition from online platforms. However, their tables turned during the pandemic with their sales increasing by 10% in 2020. To top it, in just the first 4 months of 2021, it increased by a whooping 37%. Moreover, the company is also investing in e-commerce and other technological advancements like baseball simulators. Its first retail superstore, House of Sport, has a running track and a climbing wall as well! However, with the recovery of the economy, if the demand for sports goods slackens, they might face a setback. Otherwise they are an indomitable force in the market now.
2. Big Five Sporting Goods
This is a famous chain of stores selling sporting goods all throughout the Western USA. Most of its stores are in California. These usually occupy strip malls. Like most companies in the sector, before the pandemic it was struggling to survive but with COVID-19 it has really ridden an upward spiral. In 2020, the net income will increase to an incredible 700% for revenue strength and initiatives in reducing costs. It is investing in e-commerce too but the chief revenue is still collected from the physical stores. It has raised its quarterly dividend payment from $0.05 pre-pandemic to $0.25 currently/ In fact, the company has also paid its shareholders twice a $1 special dividend in 2021. However, it still needs to prove that it is worth investing in a normal economic environment devoid of the pattern changes caused by the pandemic.
3. Hibbett Sports
They too have their stores mostly in strip malls. It has an interesting strategy to target underserved markets. They do this to give great cost benefits as they go through less competition. So, they get the benefits of comparatively cheaper real estate. It also wants to open the stores near to one another to improve the company's marketing as well as logistics. Its stores are mostly found in the Southern USA and it is based in Alabama. In the starting half of 2021, its sales soared by 30% and 63% from the 2019 levels.
Let us know your investment results then, if you do intend to follow our advice!
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