Why Dick's Sporting Goods Stock Missed the Mark Today
Shares of Dick's Sporting Goods (NYSE: DKS) were running out of breath Tuesday after the retailer posted underwhelming results and lowered its guidance in its second-quarter earnings report. The stock was down 18.5% as of 11:22 a.m. EDT.
The nation's largest sporting goods retailer said same-store sales increased just 0.1%, well below the company's guidance of 2% to 3%.
Overall revenue, meanwhile, increased 9.6% to $2.157 billion as total store count increased by 12% over the past year to 833, and online sales improved 19%. The top-line result was slightly below estimates at $2.161 billion.
Source: Fool.com
Dick's Sporting Goods Inc Stock
€204.25
5.070%
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