Sporting goods retailers rebound, along with Dick's

Big 5 Sporting Goods

25/05/2022 16:44

(Updates stock activity)
    ** Shares of sporting goods firms reverse course and climb
on Weds, tracking a broader bounce in the retailing space
    ** S&P Consumer Discretionary index  .SPLRCD  up 2% and
leading all major S&P sectors higher ahead of Fed minutes  .N 
    ** The SPDR S&P Retail ETF  XRT.P  rising ~6% on Weds,
stemming a 5-session slide
    ** Dick's Sporting Goods Inc's  DKS.N  stock, which had been
down >10% premarket, now up 9.9%, even after co slashed full-yr
forecast profit and same-store sales forecast  urn:newsml:reuters.com:*:nL3N2XH2CA
 urn:newsml:reuters.com:*:nPn5pV1y0a
    ** Academy Sports and Outdoors  ASO.O  up 7.9%
    ** Big 5 Sporting Goods  BGFV.O  gaining 6.0%, and Hibbett
Inc  HIBB.O  surging 17.0% ahead of its Q1 report due on Fri
    ** Vista Outdoor Inc  VSTO.N , which earlier this month said
it plans to spin off its outdoor products business from its
ammunition segment, up 9.7%. Stock also getting a boost as Texas
elementary school massacre re-ignites calls for stricter gun
control  urn:newsml:reuters.com:*:nL2N2XH1G4
    ** U.S. retailers have been beaten down recently as
inflation-induced profit hits unnerve investors  urn:newsml:reuters.com:*:nL3N2XB2ML
 urn:newsml:reuters.com:*:nL2N2XC1F7

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))