Play ball

Investors cheered Dick’s Sporting Goods’ announcement that it would reinstate its dividend and open all its stores by June 30.

Pennsylvania-based Dick’s cited strong early sales at stores that have re-opened and said it has returned workers from furlough while restoring previously reduced salaries for all employees, except certain executives.

One of the largest national sporting goods chains, Dick’s closed all its stores on March 19 due to the coronavirus outbreak and furloughed a “significant number” of its 41,600 employees in early April.

Dick’s reported earlier this month that while sales at established stores fell 29.5% in the first quarter, they are only down 4% through the first four weeks of the second quarter.

Dick’s Sporting Goods, which have been inching back toward pre-coronavirus levels, rose 9% to close at $39.41 on Friday.