Dick's Sporting Goods Drops 18% After $5.59 Billion Q2 Miss
Updated
Updated · Yahoo Finance · Aug 25
Dick's Sporting Goods Drops 18% After $5.59 Billion Q2 Miss
3 articles · Updated · Yahoo Finance · Aug 25
Summary
Dick's Sporting Goods fell 18% after posting a second straight quarterly miss, with Q2 earnings of $3.53 a share missing the $3.78 consensus and revenue of $5.59 billion trailing the $5.64 billion estimate.
Footwear weakness drove the shortfall, with the report tying softer consumer spending to pressure from Foot Locker, the chain Dick's acquired nearly a year ago.
The selloff deepened an already weak year for the stock, which had been down 9% before Tuesday's premarket drop.
Earlier reports said Dick's also cut its full-year outlook, underscoring broader concerns about the athletic footwear market and the integration drag from Foot Locker.