#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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