Sports Stock News and Investing Ideas: #PlaybyPlay Episode 24; DICK’s (NYSE: $DKS) Reports Q2 2020 Sales and Earnings, and Fitbit (NYSE: $FIT) Announces Advanced Health Smartwatch

#PlaybyPlay Episode 24; DICK’s (NYSE: $DKS) Reports Q2 2020 Sales and Earnings, and Fitbit (NYSE: $FIT) Announces Advanced Health Smartwatch

Athletes Across Various Leagues Sit Out in Protest and Messi Wants to Leave Barcelona

Point Roberts, WA, Delta BC August 28, 2020 - Investorideas.com, a leader in investor news and research issues today’s edition of Play by Play covering what’s new in sports and e-sports headlines and recent news from publicly traded companies in the sector.

Listen to the podcast :

https://www.investorideas.com/Audio/Podcasts/2020/082820-PlayByPlay.mp3

Read this in full at http://www.investorideas.com/news/2020/play-by-play/08281DKS-FIT.asp

Stocks discussed: (NYSE:DKS) (NYSE:FIT)

DICK’s Sporting Goods, Inc. (NYSE:DKS) has reported its sales and earnings results for the second quarter ended August 1, 2020. Highlights include a consolidated net income of $276.8 million, up from the $112.5 million reported in Q2 2019. The company also saw net sales increase 20.1 percent in the quarter to approximately $2.71 billion. DICK’s CEO Edward W. Stack said:

"We had an exceptionally strong Q2 in which we delivered our highest ever quarterly sales and earnings. These results are a testament to the hard work and dedication of our teammates, who reacted quickly to favorable shifts in consumer demand throughout the quarter. During this pandemic, the importance of health and fitness has accelerated and participation in socially distant, outdoor activities has increased. There has also been a greater shift toward athletic and active lifestyle products with people spending more time working and exercising at home. The majority of our assortment sits squarely at the center of these trends, and while mindful of the uncertainty in the current environment, we are in a great lane right now."

Fitbit, Inc. (NYSE:FIT) has announced its health smartwatch Fitbit Sense, which features: an electrodermal activity (EDA) sensor, advanced heart rate tracking technology, new ECG app, and an on-wrist skin temperature sensor. James Park, co-founder and CEO, Fitbit, explained:

"Our mission to make everyone in the world healthier has never been more important than it is today. COVID-19 has shown us all how critical it is to take care of both our physical and mental health and wellbeing. Our new products and services are our most innovative yet, coupling our most advanced sensor technology and algorithms to unlock more information about our bodies and our health so you can be in control. We are breaking new ground with our wearables, helping you better understand and manage your stress and heart health, and pulling your key health metrics together in a simple and digestible way to track things like skin temperature, heart rate variability, and SpO2 so you can see how it’s all connected.³ Most importantly, we are making health accessible, surfacing new data that you may only get once or twice a year at the doctor’s office that you can use to focus on your holistic health and wellness, at a time when it’s needed most."

Athletes Across Various Leagues Sit Out in Protest and Messi Wants to Leave Barcelona

Professional athletes in various sports are boycotting or delaying play in protest over racial injustice associated with police brutality. A report from the Associated Press today outlines this trend, now seen across many professional sports leagues, and its beginning with the NBA on Wednesday and Thursday. First, the Milwauckee Bucks sat out from their Wednesday playoff game against the Orlando Magic, which led to two other playoff games on that day, and three scheduled for Thursday, being postponed.

The MLB called off three games on Wednesday, as well, and postponed seven on Thursday. In the NFL, which is set to start a new season on September 10, nine teams cancelled their practices on Thursday. The NHL also announced the cancellation of two days of scheduled playoff games on Thursday.

The AP reports that soccer (football) superstar Lionel Messi has told Barcelona that, after almost 20 years, he wants to leave the team. According to the piece, Messi had “grown unhappy after a trophy-less season ended with a humiliating loss to Bayern Munich in the Champions League.” An excerpt from the AP piece outlines the potential legal consequences of his departure:

Barcelona said the document sent by Messi referenced a clause allowing him to leave for free at the end of the season. However, the club said the deadline for triggering that clause expired in June and that it would seek legal advice. Messi’s contract also includes a 700 million euro ($826 million) buyout clause.

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