DKS

Dicks Sporting Goods

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-$22.30 -17.55%
$NKE sees inventory up 44% YoY!!!!

Adding to the pain, Nike's biggest growth market, China, has seen double-digit declines in sales. With Zero COVID lockdowns and rising nationalism in China, Nike investors can rest assured that they're not the only American company that's struggling in China.

With retailers like Walmart and Target reportedly canceling billions in orders from vendors, I wouldn't be surprised if companies like Footlocker or Shoe Carnival are also canceling orders with Nike. Maybe that's why Nike has highly bloated inventories.

In the meantime, Dick's Sporting Goods seems to be doing well in the stock market. Being a big client of Nike, it will be interesting to see whether $DKS will do well in the stock market throughout the rest of the year, or not.
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Yikes! Hopefully that means I could get some new shoes at a discount :p
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Weekly Review
Some nice gains over the past few days after a rough start to the week.

Income Portfolio: Opened new positions in $AMLP and $TSN . Increased holdings in $ARCC $OZK $AFG $DKS $HRL and $LCII . Collected dividends on $INTC $KR $CMI $RDN $RS $JNJ $PCAR and $TSCO .

Growth Portfolio: Increased holdings in $ENPH and took partial profits on $PINS leaving a small holding remaining

Speculative: Nil
Weekly Watchlist Results

$SPY +4%
$QQQ +4.18%
$DE - No Trade - Continuation to the upside
$DKS +5.3%
$SBUX - No Trade - Continuation to the upside
$COIN +18.28%
$SHOP +15.16%
$CRWD - Hit Price Target 1 at $169 from prior weekly watchlist
August Portfolio Performance
Income Portfolio
Down 0.5% for the month, but slightly outperformed the SPY. Biggest gainer was $DKS up 17% for the month. Biggest loser was $SCI down 15% over the course of August.

Growth Portfolio
Choppy month once again, a few adds, a few sells and $SSO hit the SL. Overall portfolio just up 0.4% against the SPY down 1%. Biggest gainer was $NVTA up 65%. Biggest loser was $SPCE down 18% for the month.
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Paul Cerro's avatar
$36.4m follower assets
It's All About "Perspective"
Just because some retailers have beat sales estimates recently does not mean they're out of the woods yet.

Take a look at 12 companies in this week's "Chart of the Week" that shoes how dire the inventory situation has become.


PMIs, New Home Sales, Earnings: Daily Contrarian, Aug. 23
Good morning CommonStock! Commodities are moving higher in the pre-market, with natural gas in the U.S. at 14-year highs…

We have PMIs at 0945 and new home sales at 1000. Also earnings: $M, $JD, $SJM, $DKS, $JWN, $URBN, and others.

More about today’s activity and sentiment here:
$WMT earnings highlights
Looking at both Walmart and Sam's Club merchandise highlights, I gain a better gauge on which retail niches are doing well and which aren't.

Here are Walmart's quarterly merchandise highlights:

And here are Sam's Club's merchandise highlights:

From looking at the two brands, here are a few highlights we can gather:
  • grocery sales grew by low double digits
  • health and wellness products grew by single digits (people prefer to buy smaller containers of those products than in bulk)
  • technology, office and entertainment product sales continue to see declining sales
  • back to school spending has provided some growth for retailers in areas like merchandise and apparel

Overall, this earnings report makes me slightly bullish on $NKE $VFC $FL $DKS $JNJ $ABT while making me bearish on $WSM $BBY $ETD $RH $W $YETI $MLKN.

Being the bellwether of the retail sector, $WMT tells us what consumers are shopping for and what they aren't in the market for.
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When you say you are bearish/bullish on these adjacent companies, is that more of a short to medium term outlook?
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Patience Child🤦‍♂️
I’ve mentioned before that I don’t trade, but will do relatively short-term swing trades if I believe something is undervalued, but don’t love it enough to give it permanent residence in my portfolio Just wanted to put on display my lack of patience and what it cost me this time.

I bought $DDS mid-July @ ~$197/share. Sold $DDS around August 5th ~$250. Took a peek the other day and noticed it had shot up to $300 already. I saw my other retail got a little pop today so checked on Dillard’s again; it’s up to $324 already🤯. Nice 70% gain in 30-35 days if I’d held. I’m okay with 25% in 3 weeks; but patience, at least in this case, would’ve rewarded me.

I just wanted to make note here to track my decisions live.

Seems a little crazy looking at the price of these retail companies now compared to pre-Covid levels and how high they’ve got. Specifically the ones I’ve dabbled with recently; $WSM , $DKS , $DDS , $SCVL , and $BKE.
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