The market went wild last week after a number of analysts either initiated coverage or upgraded a number of stocks in the sporting goods industry, sending many companies near or to their 52-week highs. The indices tracked by Sports Executive Weekly on the cover page of each issue are comprised of the top 100 publicly-traded companies that impact the sporting goods, athletic footwear and/or athletic apparel markets.
While the S&P 500 index has gained 13.0% since the end of November last year, the Industry index, which includes all 100 stocks we track has risen just 9.3%, due entirely from a Department Store sector that rose just 3.7% in the last year.
Conversely, the Specialty stocks, which are made up of the retailers in the Sporting Goods and Mall Specialty guys, has jumped nearly 73% since month-end November 2002. The index is driven by Finish Line, which has jumped 187% in value in the last year; Dicks, which has gained 150%; and Foot Locker, which has risen 66%, but has the most impact on the index due to its market cap. PSUN was another key driver, with shares jumping 92.2% since last year at this time.
In Sporting Goods, The Sportsmens Guide led all other percentage gainers with a 148% increase since last year at this time. HIBB shares have risen 86%, TSA shares are up 65% and BGFV shares have gained 61% since the end of November last year.
The Apparel index, which has increased 16.8% since the end of November last year, was held back in large part to the inclusion of Champions parent company, Sara Lee Corp., which declined almost 10%. The only other decliner in the group was Mossimo, with a 31% decrease in market cap value in the last year.
Nike, Reebok and Columbia, with their large caps, were the main drivers for the index increase as NKE rose almost 52%, RBK nearly 41%, and COLM grew more than 34%. TBL was the other key contributor, with shares rising nearly 48% since the end of November last year.
The four companies had a similar effect on the Footwear index that has increased 40% in the last year. Skechers was the lone drag on the index, as SKX shares declined almost 40% in value since the year-ago measurement, but did not have the market cap strength to impact the index.
The big winner here in percentage gain was Deckers, with DECK shares jumping an incredible 335% since the end of November last year. The other triple-digit gainers included Rocky Shoes & Boots, up 213% since last year; Vans, which gained 113%; and LaCrosse Footwear, which saw a 111% increase in value since last year at this time.
Saucony was also knocking on the triple-digit gain door with a 98% increase in SCNYA share price in the last year.