Dick's Sporting Goods, Dollar Tree, and Stocks
How the Pandemic Impacted These Businesses
The COVID-19 pandemic has had a significant impact on businesses worldwide, and Dick's Sporting Goods and Dollar Tree are no exception. Here's an overview of how the pandemic has affected these companies:
Dick's Sporting Goods
Dick's Sporting Goods is a leading sporting goods retailer with over 850 stores in the United States. The pandemic forced the company to temporarily close all of its stores in March 2020, which led to a significant decline in sales. However, the company was able to partially offset these losses by increasing its online sales.
In the third quarter of 2020, Dick's Sporting Goods reported a 20.3% decrease in sales compared to the same period in 2019. However, the company's online sales increased by 116.3% during the same period.
Dollar Tree
Dollar Tree is a discount retailer with over 15,000 stores in the United States and Canada. The pandemic also forced Dollar Tree to temporarily close all of its stores in March 2020. However, the company was able to reopen most of its stores by the end of May 2020.
In the second quarter of 2020, Dollar Tree reported a 30.1% decrease in sales compared to the same period in 2019. However, the company's online sales increased by 106.7% during the same period.
How the Pandemic Impacted Their Stocks
The pandemic has also had a significant impact on the stock prices of Dick's Sporting Goods and Dollar Tree.
Dick's Sporting Goods stock price fell by over 50% in March 2020, but it has since recovered and is now trading at around $35 per share.
Dollar Tree stock price also fell by over 50% in March 2020, but it has since recovered and is now trading at around $120 per share.
Conclusion
The pandemic has had a significant impact on Dick's Sporting Goods and Dollar Tree. However, both companies have been able to partially offset their losses by increasing their online sales.
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