Dick's Sporting Goods craters on earnings miss and guidance cut
-30.68% to $124.31 from $179.33
What moved DKS
- Q2 adjusted earnings of $3.53 per share missed the $3.76 analysts expected, and revenue of $5.59 billion fell short of the $5.65 billion consensus.
- Management cut full-year guidance, citing a “challenging” athletic footwear market weighing on the recently acquired Foot Locker business.
- The company is reviewing “unproductive” Foot Locker assets and expects pre-tax charges of up to $750 million from the process, including $200 million in fiscal 2026.
- Shares fell about 30%, the stock’s worst single-day drop since 2023.
Sources: CNBC · Bloomberg · The Motley Fool