Over the past three weeks, the Big 5 Sporting Goods (NASDAQ:BGFV) stock has emerged as a major gained and has climbed by 115%. The rally in the stock continued this morning as it jumped by another 13%.
The stock soared after the company continued to impress in its latest earnings report. Big 5 Sporting Goods benefitted significantly due to the rising demand for sporting and outdoor equipment among consumers during the coronavirus pandemic.
Big 5 Sporting Goods recorded same-store sales growth of 31.8%, which was significantly higher than its own projection of 20%. The revenues surged to $272.8 million, which reflected a massive rise of 25%, and on the other hand, gross margins also soared to 35.9%. Profitability surged as well and the earnings per share for the quarter stood at $0.96, which was significantly higher than the $0.22 per share in the year-ago period. Investors could consider keeping an eye on the stock over the coming days.